Paytm has announced a new feature under its Paytm Wallet service. The new feature is called as Paytm Cash and is aimed at preventing misuse of its cashback service.
The new Paytm Cash is being rolled out and will eventually replace future cash back. As per reports, it can be used anywhere where Paytm App is being used but will be non-transferable – neither to other Paytm accounts or to the bank.
As of now, all balance is being shoed under the Paytm wallet but now reports claimed that there will be a new Paytm Cash tab in the app apart from the Wallet option, said Gadgets 360. The new feature is being rolled out to both Android and iOS users.
Though Paytm has its reasons to issue a new feature, it remains to be seen how the Paytm Cash is being allowed to use. If it will turn out to be something like MobiKwik’s Supercash, then Paytm Cash will be a huge letdown.
Just recently, Paytm said that its app has crossed the 100 million download mark in Google Play store. The app has been integrated to Bhim app and Paytm Bank too. Also, Paytm is offering fixed deposit service.