Types of Paytm BC Agent

Generally these days the digital wallet system is increasing. So many companies are coming into the business of virtual wallets. Digital wallet systems creating trust between the general public and it's becoming part of people's daily life for piggy transactions. This way it attracting many fake transactions and also money laundering. So, RBI directs these types of companies to complete KYC of their customers to prevent money laundering. In this way, the BC Agent comes into existence. 

Types of BC Agent

Basically BC Agents two types -

  1. Fixed BC Agent
  2. Mobile BC Agent

Fixed BC Agent

Fixed BC Agent is authorized to do their activity in a fixed area. Fixed BC Agent provides many services like Add money into Paytm wallet, Money deposit and withdrawal also BC can generate a statement of Paytm Payment Bank customers and another feature is BC can pay loan behalf of customers. This all services have to do at one location. Paytm Ka ATM app fetches the location of the device. So, as per term and condition if fixed BC practice from multiple locations then Paytm can forfeit access of BC Agent. This type of BC Agent earns a fancy commission on completing a KYC of the customer. This time KYC commission is ₹40 for core (active) user and the non-core user is ₹10 and if that person will not active within next month then Paytm will deduct ₹20 from our commission. Fixed BC Agent provides many other services to Paytm customers and also they earn commission on that.

Mobile BC Agent

THE Mobile BC agent is authorized to do KYC of Paytm customers. But this type of BC has no restriction to do KYC in a fixed location. As per their name they can move anywhere and can do KYC. Mobile BC Agent also gets a commission like a fixed BC Agent. But they have not accessed to other services, So, this way it restricts to maximize the income of BC Agent.

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