Paytm ads address KYC myths; focus on direct bank transfer

We are living in times when money transfers can be done with a click with any of the available digital payment platforms. These include Google Pay, Paytm, PhonePe, MobiKwik and others. There are, however, many concerns regarding instant money transfer on Paytm without KYC.

Myths like money can't be transferred if KYC of your Paytm account has not been done, still exist in the market.

To address these, Paytm has launched three new ads on social media, as part of its new #MoneyTransferHuaEasy campaign.

The ads aim to raise awareness about how instant money transfer through the Paytm app is a quick, safe and easy way to directly send and receive money into one's bank accounts. The films, targeted at millennials, highlight how by choosing the recipient's mobile number, users can transfer money directly from their bank account at zero charge, without the need for wallet KYC.

The films feature Internet sensations Saloni Gaur and Danish Sait, and Paytm's very own Abhinav Kumar, who was popularly known as the ‘Trivago guy’.

Prior to this, the company had launched multiple TV ads that portrayed episodes from people’s daily lives. These included a scene from a wedding ceremony where the groom transfers money to his sister-in-law’s bank account by just using mobile number and, in return, gets back his shoes from her. Another featured a young female tenant paying her rent, through the Paytm app, to her landlord's shy son.

With the latest series of ads, the company has now released six films as part of its initiative to highlight the ease of making digital payments without the need of completing one’s wallet KYC. Apart from the highlighted benefits, users are also assured of sturdy security architecture, the best success rate for transactions in the industry and a chance to win assured cashbacks, the brand claims.

Speaking about the campaign, Abhinav Kumar, vice president at Paytm, in a press release issued by the brand, said, "We believe that digital payment solutions are not only a great enabler in addressing daily challenges, but also help improve the quality of lives of our fellow countrymen. Consumers now have the option of instantly making payments directly from their bank accounts, by simply entering the recipient’s mobile number on the Paytm app."

"No other steps such as wallet KYC are required, while transaction charges are also absent. The new marketing campaign reflects that and is geared around taking forward this message to the consumers, making them aware of the digital payments options they have. It also aims to further promote our mission to increase seamless digital transactions across the country," Kumar added.