My Experience with PayTM Canada

When PayTM Canada reached out to me with interest in sponsoring my podcast, I had never heard of them. They seemed like great people, and had an office in Toronto, but if I was going to promote their bill payment app, I needed to actually use it myself. Yes, I eat my own dog food. I drink Great Lakes Beer, I ate Chefs Plate, and if I ever move again, I'll be calling

Downloading the app from was as simple as it sounds (I use the Android version) and in no time I had created an account. The next test was to pay an actual bill.

To pay a bill, you need to connect a credit card or bank account. I'm a big fan of using my MasterCard as often as possible because I collect points I redeem at my local No Frills, so I connected that card. Then, I paid an $84 Toronto Hydro bill.

Because PayTM Canada had created a promocode for me (torontomike) I used that promocode for this payment and was gifted $10 from PayTM. So I was able to pay an $84 with only $74 coming out of my account. You can use this promocode as well if you like the idea of getting free money. This code has since expired, so use referral code PTM7841106 when you sign up to get 5,000 Paytm points.

This first test was a complete success, and started paying all of my bills via my PayTM Canada app by using my MasterCard. You can even do this for services that don't typically accept credit card payment. But then, it came time to pay my MasterCard bill.

That's when I connected my bank account. That was slick, so I was able to pay that off within the PayTM app. Keep in mind, there's no service charge or convenience charge here, and there are lots of cashback incentives where PayTM gives you money for using their app. This month, for example, they're giving 2% cashback for any bill payment, for any amount and using any payment method.

Oh yes, and there's cashback when you buy gift cards and handy bill payment reminders... essentially, they've managed to make paying bills rather convenient, fun and rewarding.

I managed to test their support as well. I initially thought my promocode was supposed to be entered in the "referral code" part when I first installed the app, but that wouldn't take, so I opened a ticket and was promptly helped.

Yes, they're a sponsor, but all of the above actually happened. If you have any questions, fire away... and you can email me if that's easier for you.

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Comments (19 - click here to join in!)

Mark H

I guess I can see this as an alternative if you don't have a bank account. It seems to be why they're doing well in developing countries. But I'm struggling to figure out why I'd need a middle man to pay my bills when I have a bank account and online banking. The security situation (ie giving them access to my bank accounts as well as bill accounts) makes me nervous as well.

And with all these incentives, where are they making their money? I'm just not getting it.

January 22, 2018 @ 11:03 AM

Toronto Mike Verified as the defacto Toronto Mike

@Mark H

To me it's the cashback and ability to pay everything with my credit card. If you have a Mastercard that earns you points, it makes sense to pay everything possible with that. PayTM lets you do that.

I could pay all my bills via my bank account, but then I'd miss out on those points and the free money from PayTM.

January 22, 2018 @ 11:08 AM

Mark H

I get the incentives that Credit Cards offer you...the majority of people hold balances so that's their money making vehicle there.

What I don't get is where PayTM is making their money. Are they selling client data somewhere?

I get the convenience, but it feels like an unnecessary middle man as you could contact all your vendors and have them automatically debit the same credit card you're giving PayTM each month and reap the reward benefits. This feels like it is putting a lot of information into the hands of a company that could be used for ill. I guess I'd need to know more about how they monetize their business and what sort of security steps are in place.

January 22, 2018 @ 11:27 AM

Toronto Mike Verified as the defacto Toronto Mike

@Mark H

No, nothing like that. They don't sell client data. Here's a Globe article about PayTM Canada that explains more:

I understand they make their money with the PayTM Marketplace. Alibaba recently invested. It's pretty damn interesting.

January 22, 2018 @ 11:44 AM

Aditya Mhatre

Hey Mike,

Thanks for writing about us. Really appreciate it.

Hi Mark,

That's a fair question! The classic "follow the money" to know about someone's intention. :-)

The way we make money is through the deals that you see in our app. We buy the deal from the brand in bulk and pass on most of the benefit to you keeping just a fraction. We will never sell or share your data with anyone and have bank grade security systems in place. In fact, we're a bank in India and follow the same data storage processes in Canada.

January 22, 2018 @ 1:43 PM


A part of me hopes that if you had any tech support questions for this bank in India, you'd be patched through to a tech support located in North America. The ironic humour is too strong here.

January 22, 2018 @ 3:57 PM

Toronto Mike Verified as the defacto Toronto Mike


Patched through to 220 Adelaide St W!

January 22, 2018 @ 4:08 PM


Interesting. I'd been on the fence about trying it, and now I think you've tipped me. Going to see if I can use the code. I had signed up in the past but hadn't connected any accounts. Hopefully that doesn't bar me from enjoying the referral code!

January 22, 2018 @ 8:25 PM

Toronto Mike Verified as the defacto Toronto Mike


Just use the promocode when you make your first bill payment... referral codes are something different. $10 is yours when you use the promocode 'torontomike'.

January 22, 2018 @ 8:29 PM

Aditya Mhatre

@kiara Hurray! Do this - use "Torontomike" promo code (on the check out screen) for the first bill payment that you make and get $10 and then pay another biller to get 2% cashback on the bill amount. The 2% cashback offer is until Jan 31st. So do take advantage of it.


January 23, 2018 @ 9:51 AM


Sounds interesting. I'd been on the fence about trying it.

February 7, 2018 @ 5:00 AM


So let me get this straight: If my bill is $80 and I pay it using Paytm and use the promocode TorontoMike, only $70 is going to come out of my account?

February 9, 2018 @ 8:52 PM


@Toronto Mike

I used the PayTM promo code for the very first time. My bill was $190 and my credit card was charged the full $190. Does the promo code not apply if you use a credit card?

February 14, 2018 @ 3:41 PM

Toronto Mike Verified as the defacto Toronto Mike


If you use 'torontomike' as the promocode when you make your first bill payment, you should instantly get $10 in PayTM cash that's applied to the bill. That's what happened to me.

Give me a moment while I chat with the guys and gals there. Stand by!

February 14, 2018 @ 3:45 PM

Aditya Mhatre

Hello Aidan,

Aditya from Paytm here. You'll get the $10 as cashback in your Paytm account once the amount get paid to your biller.

February 14, 2018 @ 6:19 PM


OK it appears I misunderstood, I thought $10 from PayTM would be applied to my bill. I didn't realize I'd get a PayTM credit.

February 14, 2018 @ 6:44 PM

Toronto Mike Verified as the defacto Toronto Mike


So you'll have $10 in PayTM Cash from using the promocode and you can apply it to any other bill payment.

You can pay any bill with PayTM Cash, credit card or bank account. I like to drain my PayTM Cash and then use my credit card, unless I'm paying my credit card bill in which that's illegal.

February 14, 2018 @ 8:15 PM


So I downloaded this app and used your code, and had success adding 2 of my bills. Went to add a 3rd and it wouldn't let me, then just tried paying it, and it was rejected with what seemed like an error with my account. I tried it a couple of times, and was just like 'oh well, at least I got $10 off a bill, and let PayTM know that sponsoring Toronto Mike is worthwhile'. I left it at that, and didn't follow up with either my bill or PayTM as to what the problem was.

Anyways, today I got an e-mail from PayTM saying that they had seen that my attempts to pay my bill had failed, and looked into it, and realized the error was on the other end (the service that I was attempting to pay).

Long story short, I was/am very impressed with this company's initiative to look into problems that occur without even being told to look into it, fixing the problem, and then notifying the user.

May 25, 2018 @ 2:24 PM

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