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24 Feb 2020Posted By: Mudit Handa


How to Register a Business with Paytm?

In the era of digitalization, Indian small businesses have, by now, overcome the problem of cash crunch with smart digital payment modes. The need for a cashless economy is now felt by all businesses in India.

Currently, there are 300 million+ users of Paytm wallet in India. Besides, over 40 million people have got their cards saved with the Paytm gateway for a one-click checkout. This enables the merchants to receive payments conveniently on a single click. So, we can see that there is a rapidly growing client base for the businesses, which is using the Paytm gateway. Hence, businesses can grow rapidly by registering themselves on the Paytm portal.

Here we will discuss how to get a business registered on the Paytm portal.

 

1. Documents required for registering business on Paytm

First of all, we must know what all documents are needed in order to get a business registered on the Paytm portal. Here is the complete list of the documents required for registering business on Paytm:

  1. Business Registration Proof:-

Any of the below Business Registration Proof is required, which must bear the name of the firm with its registered address:

  • MSME Registration 

  • Certificate of Incorporation (in case of a company)

  • Shop establishment Certificate

  • Municipal License

  • Electricity, Water or telecom Bill

 

  1. Tax registration proof:-

GST registration is mandatory for registering business on Paytm.

Note(s):

  • The GSTIN should be clear on GST registration certificate

  • Company name with business address should be clear 

  • Company name & address should match with Business Name on GST certificate

  • A declaration should be there on the company's letter-head with authorized signatory and company's stamp

 

  1. KYC of the Authorized Signatory:-

KYC in the name of Authorized Signatory is also needed. For this, any of the following documents can be furnished:-

  • Driving License

  • Passport

  • Aadhaar Card

  • Voter ID 

  • MNREGA Card

Note(s):

  • Both the front and back image of the ID-proof is needed. 

  • ID-proof must bear the Proprietor's name.

 

  1. Other documents:-


2. Which type of business entities can register with Paytm?

The following kinds of business entities in India can easily register with Paytm:-

  • Sole Proprietorship

  • Partnership & LLP

  • Private Limited and Public Limited Companies

  • Society

  • Trust and

  • Hindu Undivided Family (HUF)


3. What is the procedure to register a business with Paytm?

Given below is the procedure register a business with Paytm:-

#Step-1: Firstly, you need to submit the online application to the Paytm Merchant Onboarding Panel.

  • Sign up with your mobile number registered with Paytm Wallet.
  • Now, fill in the Business Details

#Step-2: Upload all required documents and click on “Accept Agreement”.

  • After the successful submission of the online application, a sales representative shall be assigned, who will assist with your daily queries.

#Step-3: All the documents & Website/ App will be verified.


4. When will my business get registered with Paytm?

After the final stage of verification of the documents & Website/ App, your business will be successfully registered with Paytm.

 

If you need any further guidance as regards the GST registration or the Paytm merchant registration process, please feel free to contact our business advisors at 8881-069-069.

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