The Indian casino market is rapidly growing right now, and we are seeing many worldwide companies target players in India. To do this, they have to tailor their service to provide Indian players what they want and one area we have seen this is with the payment methods they accept.
This is where the relationship between PayTM and casinos has been formed. This Indian internet payment system is one that many people in India will have heard of before, and many will have used it for other aspects of their life. Casinos have seen this, and they are now accepting PayTM from their players. This gives anyone who wasn’t sure before, a level of confidence and something they already know and trust to use.
What is PayTM?
PayTM is a digital payment platform for users to send and receive money with others, both people and companies. They have an integrated wallet, which can have money sent to and from via debit cards, credit cards and even cash with selected banking partners.
The beauty of PayTM is that many businesses have jumped onto this, making it a big part of their service and the casino industry has been one of those to do that. With so many industries and businesses on board, using PayTM is becoming second nature for some people, and whenever it comes to anything regarding money, familiarity and trust is key.
Why Should You Use PayTM to Deposit With?
PayTM is an incredibly convenient way to deposit funds into a casino account, which will be at the top of the list for many people as to why you should use it. But there is also a security aspect that will help some people.
If you have multiple casino accounts and deposit using your card on each one, you are given your card details to many different companies. If you use PayTM then payments transfer from your PayTM wallet, and that is all the company sees. Rather than giving your card details, you are giving your wallet details, which nothing can be done with.
The PayTM wallet can be funded with your card, so your funds still come from the same place, but by adding in this additional step and move, it adds an additional layer of security.
The Best PayTM Casino Sites
In a bid to appeal to Indian players, many casinos have decided to accept PayTM from players, and here are some of those.
Big Boost
The Big Boost Casino is one of the newer players on the market and one that accepts players from India. They are putting together an impressive service for players, and one of the key areas of that service is the payment methods they accept. This includes PayTM, so if you are looking for somewhere to play and use PayTM, Genesis is an option for you.
10Cric
10Cric are known for offering a service involving both casino gaming and sports betting, and also one that is really tailored towards the Indian market, this is their biggest area. With that in mind, it should be no surprise to you that they accept PayTM, as well as other Indian based payment methods from players, making this a great site for those in India.
Parimatch
Parimatch are a worldwide gambling brand, who are now targeting the Indian market and part of that has been to offer Indian players the chance to play with local elements to their service. This includes local games in the casino but also payment methods, allowing you to deposit and play with PayTM plus many more.
Summary
BetJungle is a new and exciting online casino and sportsbook which allows deposits with PayTM. It's impossible to overlook BetJungle if you are looking to use PayTM as your preferred payment method.How to Deposit Using PayTM?
Making a PayTM deposit is very simple and easy to do.
- Open an account with PayTM to create your own wallet
- Fund your wallet, either by sending money via a card or depositing cash
- When you log into your casino account, choose to deposit via PayTM
- The casino details will now be on your screen, enabling you to send to the right place
- These deposits are instant, the cash will be with your casino straight away
The deposit goes from your wallet to the recipient, so how you fund your wallet will never be revealed, an added layer of security for those using credit and debit cards.
How to Withdraw Using PayTM?
What is great about PayTM is that you can receive money back from people using the service, a vital aspect of using this with a casino, because you need a way to make withdrawals.
To withdraw funds from your casino account, you must request a PayTM withdrawal in your account. This will transfer the funds from the casino balance into your PayTM wallet. When cleared and sent by the casino, these funds will appear instantly in your PayTM wallet with no delay.
From here you can decide whether you want to add the funds back to your card, or alternatively, leave them in your wallet and use them to spend money elsewhere. This can be for gambling somewhere else, or with one of the many companies from other industries that accept PayTM as a payment method.
PayTM Update: Can PayTM be trusted?
In recent weeks of February 2024, PayTM has been thrown into the spotlight not for its innovative services but due to a regulatory crackdown that puts its trustworthiness into question. As online casinos continue to gain popularity in India, with many players turning to digital wallets for their transactions, the reliability of these payment methods becomes crucial.
A Setback for a Digital Payments Giant
The Reserve Bank of India (RBI) in January 2024, halted services offered by PayTM’s banking division, citing “persistent non-compliance” with its rules. This directive includes accusations of financial crimes such as falsifying customer information and money laundering – allegations that PayTM has denied.
While the PayTM app remains operational for facilitating quick payments between bank accounts, it can no longer accept direct deposits into Paytm wallets. For online casino enthusiasts, this news is particularly disconcerting. The wallet service’s suspension means users cannot directly deposit funds from their PayTM wallet into their casino accounts – a feature that was previously celebrated for its convenience and speed.
Implications for Online Casino Deposits
The RBI’s actions have significant implications for those using PayTM as a deposit method at online casinos. While existing balances can still be used for transactions until depleted, the inability to replenish these wallets directly affects players’ ability to use PayTM seamlessly for gambling activities.
Seeking Alternatives
As a result of these developments, both small businesses and individual users have begun shifting away from PayTM in search of more stable alternatives. With rival apps seeing an uptick in downloads and traditional banks stepping in to offer alternative payment solutions, it is clear that confidence in PayTM has been shaken.
For online casino players, this means exploring other deposit methods that offer similar levels of convenience without the shadow of regulatory issues. Options like UPI (Unified Payments Interface), direct bank transfers, and other e-wallets are likely to gain traction while PayTM addresses the RBI’s concerns.
FAQ
Is PayTM safe?
Yes, PayTM is a fully secure payment service that people in India and around the world can use with confidence. The wallets where funds are stored have passed a variety of safety checks, so you can spend knowing you are safe, and also that you are not revealing your card details to anyone.
Can you withdraw with PayTM?
Yes, if you want to use PayTM with a casino then you can deposit and withdraw funds with them. After making a deposit, if you want to take funds out of your account then you can simply withdraw them back into your wallet.
Can you use Rupees with PayTM?
Yes, when making payments and receiving them, this is completed in Rupees so there are no currency conversion measures in place, unless you want to use a different currency.
Can I spend money in my PayTM wallet?
Yes, many companies accept PayTM as a payment method, and if you choose to pay with this, the money in your PayTM wallet is the funds you will use.
