New payment app helps you earn cash rewards just for paying your bills

Do you have that one friend who always forgets their wallet? As annoying as it might seem when it comes time to pay the bill, they might be onto something. They just haven’t figured out what it is yet. It’s time to introduce them to Paytm: the new way to pay your bills and repay your friends using your smartphone.  

Paytm Canada recently launched a free mobile application that gives you a secure way to pay your bills through your smartphone and earn rewards points. We aren’t just talking about your phone bill or your cable bill. We are talking about bigger budget items like your property taxes, utility bills, and credit cards. I can just see the points adding up right now!

You can also send cash to anyone with a Paytm account; making it easy for you to spot a friend some cash or collect money from those who might otherwise stiff you on the bill. 

So, how does it work? It’s super easy. Download the app to your smartphone. Add your billers from a list of more than 5,000 of Canada’s largest service providers then choose your payment option. Now this is the best part. You can use any payment method you want ̶ cash, direct debit, or credit card ̶ all without fees. Set your payment frequency to once, monthly, quarterly or annually and then sit back and be rewarded.

Now imagine you set up your Rogers bill and then paid it with your MasterCard through Paytm. You will collect 1 Paytm Point for every $1 spent on your Rogers bill, plus you will still earn any points you collect on your credit card. That’s double the points. If you turn around and pay off your credit card through the app, you get Paytm points again. And that’s what we call the triple-dip people!  

For a limited time, you will receive 10,000 welcome bonus points for just downloading the app. Ten thousand points can be redeemed for a $10 rewards cards from a growing list of over 65 merchants, including the Apple App Store and iTunes, Cineplex, Tim Hortons, Sephora, !ndigo, Uber, Lululemon, Amazon, Hotels.com, and Esso. 

You are literally earning rewards just for paying bills that you have to pay anyway. It seems like a no-brainer to me. So why are we just hearing about this now? Well, it turns out that Paytm is an internationally recognized mobile payments and financial services company with over 230 million users and 8 million merchants in India. Canada is their first foray into another market, and we are glad they chose us.

I spoke to company spokesperson who told me that Paytm is investing more than $50 million to grow their operation in Canada over the next decade. This means we can expect to see more billers and more reward merchants added to the already impressive payment application.

And remember that friend who never carries a wallet? If you refer them and they use your referral code to sign-up you will both receive 5,000 Paytm Points. Once they pay a bill of at least $50, they will receive the 5,000 Paytm Points and you will also receive 5,000 Paytm Points. Oh, it’s definitely payback time.

It’s also time to ditch the wallet and watch the rewards points pile up instead of the bills.