India’s largest mobile-first financial services platform PayTm has announced a new feature ‘Paytm Cash‘, that makes cashbacks on the platform non-transferable to Other Users, Bank Accounts. This new feature is specifically aimed to allow users use their cashbacks only for transactions made via Paytm and preventing misuse of its cashback service.
As TelecomTalk reports, it is a server-side change which means users should have already received the feature by now. The feature essentially locks your cashback amount to be used only while making payment at Paytm accepting merchants. This makes the cashback non-transferable to fellow users or to any bank.
Previously, The cashbacks are added to the customer’s Paytm wallet. Now, With this new Paytm cash, all cashbacks are converted as paytm cash. Paytm Cash is a ‘new avatar’ of Paytm Cashback that has been rolled out to both iOS and Android users. Paytm Cash will have a dedicated tab under the Passbook option. This new tab will list the details about the cashback you’ve received through various online and offline deals.
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