Patym launches Paytm Cash feature: Cashbacks are now non-transferable

Digital payment solutions provider Paytm has been adding a lot of new features to its platform in the last couple of months. Besides the company is aiming to make the user experience better on its platform and at the same time provide hassle free services to its users. With that in mind, Paytm has now launched 'Paytm Cash' feature which is basically to prevent misuse of cashback offers. Further, the new feature has been added to bring some changes in the existing cashback model on the mobile wallet platform.

The new system is being added to Paytm accounts and Gadgets360 reports that it has been designed to be accepted everywhere while making payments using the Paytm app. Unfortunately, Paytm Cash is non-transferable meaning user will not be able to transfer the amount to other Paytm users or to any bank account. It will remain in the account holders wallet.

The new feature is being rolled out for both Android and iOS version and devices and it will come with a dedicated Paytm Cash tab which should be under the Passbook option. Notably, the new tab will display all the details about the cashback that a user has received whether it is from various online or offline deals.

Previously, the app displayed the information below the existing wallet balance under the Wallet tab. However, even with the update Paytm app will display all the transactions made using Paytm Cash under the Wallet tab only. And as mentioned above users cannot transfer the amount. It basically looks like the new addition is specifically aimed to allow users use their cashbacks only for transactions made via Paytm.

How to send money using Paytm Inbox

While things will be limited for consumers in terms of conducting transactions, the company's move will prevent misuse of cashback offers that usually pop up during the sale seasons. In any case, what do you think of this new addition? Do let us know in the comments.

Meanwhile, digital payment solutions provider Paytm has recently announced that its app has crossed the 100 million milestones on Google Play Store in the second week of December 2017. With this Paytm became the country's first payments app to cross the 100 million downloads mark.