Basic Plus Wallet FAQ's



 

S. No.


 

Old Min KYC PPI


 

New Min KYC PPI


 

1


 

Existing PPIs
 enforce an expiry of 24 months from the date of issuance


 

New PPI does
 not have the concept of expiry


 

2


 

Existing PPI
permits topup using cash and through electronic means such as debiting bank
 account/debit cards/credit cards


 

New PPI does
not support loading through cash. Rest of the supported paymodes remain the
 same including P2P in.


 

3


 

Existing PPI
 limits debit/month to Rs. 10,000.


 

New PPI
limits loading/month to Rs. 10,000. There are no limits on debit. In such
 cases, there is a possibility that the debit can cross Rs. 10,000 in a month


 

4


 

Annual
 loading is restricted to Rs. 100,000/financial year


 

Annual loading
 is restricted to Rs. 120,000/financial year


The new users who were earlier issued Min KYC wallets will be issued Basic Plus wallets. In terms of user experience, nothing is going to change except for the differences highlighted in the table above. This is only a backend configuration and the user will not have any visibility.


There is a new state which will be reflecting at KYC panel / Wallet panel / Seller panel / BO panel and the state name is PAYTM_BASIC_PLUS.

The customer's whose KYC / wallet state will be PAYTM_BASIC_PLUS, these customers will enjoy the below mentioned benefits:

  • These are new min KYC users who do not have an expiry of 24 months.
  • Per month limit is same i.e. Rs 10,000 however, they have an annual limit of Rs 1,20,000

There's just one restriction:

  • New min KYC users will not be able to load money to their Paytm wallet with cash at BC points