Paytm – the Indian e-wallet and digital payment service provider is currently setting a global footprint and a massive one at that. It is available for the people of the Philippines although the default currency is still Indian Rupees (INR) instead of the Philippine Peso (PHP).
In India, apart from being popular as a payment method proper, Paytm has also found an extensive userbase in iGaming. Those who fancy placing a bet online on the go, prefer using it to make deposits and request withdrawals.
According to casino reviewer website GamblingBaba, the best mobile casinos in India support deposits via UPI-enabled apps such as Paytm.
This makes Paytm one of the most frequently used payment methods for gambling in the country. It is yet to make waves in the Philippines. However, it is only a matter of time as the company continues to grow from strength to strength.
Furthermore, it is not just about the fierce and fast market penetration. Paytm offers such conveniences that make transacting money a breeze. Its secured payment environment and high success rate of transactions are the top reasons this digital payment system is every punter’s favourite in India.
Here are the top 5 reasons Paytm makes for a great banking method for mobile casino banking:
Most casinos restrict users from using the welcome bonus if they make payments with e-wallets such as Skrill and Neteller. Paytm is currently free from such restrictions. You can make a deposit and claim the bonus as well.
Additionally, deposits with Paytm are free. Although casinos generally do not charge you for making payments, exceptions are always there. Paytm simply doesn’t add to that inconvenience by charging you money when you fund your gaming account.
Multiple Modes of Payment
Paytm lets players pay and receive money in multiple ways. It supports the Indian-borne Unified Payments Interface (UPI), which facilities instant payments in real-time via inter-bank networks. All you need is a virtual payment address, which you can easily set up once you have the app installed.
Additionally, it also allows payment via debit and credit cards such as VISA and MasterCard. Net banking is another mode the app facilitates. Last, but not least is the Paytm Wallet which you can fund to store money online and make payments without directly involving your local bank.
Mobile casino players love this feature using which they can make deposits anytime, anywhere. The need to carry bank cards and take them out every time you want to make a payment is automatically dismissed.
Gambling involves money, which involves risks. This is why the payment method you use needs to be extremely secured, especially if you are using your phone to play games. Paytm is a winner here because of the following:
- Anti-fraud technologies
- Advanced Encryption Standard (AES)
- Data Security Standards (PCI-DSS) compliance
- 128-bit encryption
- Secure Socket Layer (SSL) Protocol
- Secure Electronic Transaction (SET) Protocol
- Tokenization of data
The last pointer is of vital importance. Paytm leverages tokenization to replace sensitive data with illegible characters to hide it. This, in turn, safeguards your privacy from third-party and unauthorized access.
Additionally, a team of 200 cybersecurity experts makes sure each transaction on the payment system is safe. Artificial Intelligence is used to monitor suspicious activities and prevent them.
Fun fact: You cannot use Paytm for transactions if you have malicious apps installed on your phone. The payment app will scan your device and block all such transactions unless you uninstall them.
Cashbacks and Rewards
This is one of the major reasons mobile gamblers want to play at casinos that accept Paytm. They are generously and regularly rewarded with cashbacks, deals, discounts coupons and other offers for paying and receiving money.
Imagine hitting a jackpot with a certain amount and getting a part of your invested amount back! Wouldn’t that be the cherry on the cake?
High App Speed
Paytm is one of the fastest loading payment apps that are also easy to use. Its great navigability and the speed at which it processes monetary transactions are reasons why punters on the move in India prefer using it to other casino banking apps.
So, are you a gambler in the Philippines? Would you want mobile casinos in the country to start supporting this awesome Indian payment app, too?