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Paytm Canada Review: Earn Rewards While Paying Your Bills

Paytm Canada is revolutionizing how you pay your monthly bills. Have you ever dreamed about turning your bills into rewards? Well, it is here!

The landscape for loyalty rewards programs has been changing radically over the last few years. In exchange for cutting coupons, shoppers have quickly adopted the introduction of cash back rewards via mobile apps (like Checkout 51 and Caddle). With these cash back apps, all you need to do to earn rewards is to simply scan and upload your purchase receipts.

However, earning rewards on your bill payments has remained a no-go area until now. Bills have to be paid and Paytm Canada has defied conventional thinking by making it possible for you to earn rewards for paying your bills via their mobile platform. Even better, the service is FREE!

2022 Update: Paytm is shutting down in Canada and will no longer be operational by March 14, 2022.

February 2020 Update

Paytm has scaled back the ability to earn and redeem rewards using the app. Gift card redemptions now require that you make a part payment and you no longer have the option to redeem rewards using only your accumulated points. Also, you can no longer convert your points to Paytm cash and use it to pay your bills. This used to be a great way to monetize your Paytm points if you did not want to redeem for e-gift cards.

I will update this post if things change or go back to how they were. However, based on the current status as confirmed by me today, the benefits offered by this app no longer appear to be worth the hassle.

About Paytm Canada

Paytm Canada is a payment and financial services company based in Toronto. The company initially launched in Canada in 2014 and in 2017, its dynamic mobile payments app was introduced.

Paytm Canada is a subsidiary of the globally recognized parent fintech company, Paytm. Paytm was founded in India in 2010 and its platform is used by more than 230 million people worldwide. In 2015, Paytm secured $1.4 billion in funding from SoftBank and some of its other financial backers include Warren Buffet’s Berkshire Hathaway, Ant Financial, SAIF Partners, and many other investing greats.

The aim of Paytm in Canada is to make bill payments rewarding for Canadians. Bills need to be paid and earning rewards while doing so is a great bonus. As per Paytm Canada’s CEO, Harinder Takhar, “Every Canadian has a bill to pay and our new features and incentive program seamlessly rewards our customers for a tedious yet necessity (sic) part of our everyday lives.”

Paytm Canada

How Paytm Canada Works

First, let’s think about your monthly bills. If you are like the average Canadian, you need to pay for your mobile phone, utilities (hydro and water), credit card balance, insurance (home and car), internet, cable, rent, tuition, property taxes, and more. It’s a lot of things to pay for, and a lot of money leaving your wallet month after month.

This is where Paytm Canada comes to play. You will still pay these bills, however, when you do so using their app, you will be rewarded with points that can later be redeemed for a variety of gift cards and cash. In addition to earning rewards for paying your bills, the Paytm app also makes planning your financial life easier:

  • All your monthly bills show up in one place – well over 5,000 companies are represented on the app
  • You can pay your bills through all the major banks and credit unions in Canada (over 50 of them)
  • If you are finding it cumbersome to stay on top of your numerous monthly bills, Paytm Canada is for you. The app sends you email and in-app reminders so you no longer have to pay late fees

In addition to paying bills, Paytm also allows you to send money to friends and family who have an account.

How To Open a Paytm Canada Account

I found the onboarding process for the app to be a breeze. Simply download the FREE mobile app using your smartphone or tablet by visiting or get it on the iOS or Google Play stores. Following installation, you can choose to pay your bills using cash, credit/debit cards, or directly from your bank account.

Add a new biller, for example, Rogers Communications, Fido, Bell MTS, Enbridge Gas, BC Hydro, MB Hydro, Alectra Utilities, PC Mastercard, BMO Mastercard, Tangerine Mastercard, University of Manitoba, University of Toronto, Manitoba Public Insurance, TD Home and Auto Insurance, The Personal Insurance, City of Winnipeg and City of Toronto property taxes, Shaw Cable, Allstream, TenantPay, Questrade, and more!

When your bills are due, pay them using the app, and you are on your way to earning rewards.

How To Earn Points With Paytm Canada

There are many ways to earn points using the Paytm app:

1. Pay Bills: Earn 1 Paytm point for every $1 you pay. For example, say you pay your monthly property taxes at $300, you will earn 300 Paytm Points.

2. Refer Friends: Paytm rewards you with 5,000 points ($5) anytime someone signs up to the app using your referral promo code (e.g. PTM2477287) and pays their first bill of at least $50. Your friend will also collect 5,000 points. You can find your unique referral code under the profile section of the app.

3. Purchase Gift Cards: When you redeem your points for a gift card (or buy one), you earn 1 point for every $1 spend. This is an awesome way to ‘double’ up your rewards.

4. Bonus Points: Bonus points are plentiful with users earning additional points when they:

  • Download the app and sign-up: 10,000 points ($10).
  • Pay bills: Earn an additional 500 points when you pay 3 different bills in a month that are $25 or more, or 1,000 points when you pay 5 different bills of $25 or more.
  • Pay a new bill: Get 250 in bonus points when you pay a new bill.
  • Verify your account: Earn an additional 1,000 points when you verify your account.
  • Are Loyal: Earn 10% in bonus points when you pay the same bill for 12 months.
  • Are Social: Share Paytm with your friends on social media using the hashtag #paytmcanada and earn 250 bonus points per share, up to 1,000 points.

How To Redeem Your Paytm Points

There are numerous gift card options for redeeming your accumulated Paytm points. Some popular brands and retailers whose gift cards are redeemable via the app include:

Tim Hortons, Amazon, Uber, Starbucks, ESSO, Winners, Sport Chek, Hudson’s Bay, Boston Pizza,, Jack Astor’s, Instacart, Best Buy, Fairmont Hotels, Gap, Lululemon, Cineplex, Air Canada, Netflix, SkipTheDishes, Just Eat, Indigo, and more.

You can also redeem your points for Paytm Cash which can be used to pay your bills. When redeeming your points as cash, the following conversion rates apply: 15,000 Points = $10, 22,500 Points = $15, and 30,000 Points = $20.

To redeem Points for FREE rewards, you need to have accumulated a minimum of 5,000 points.

Paytm Canada – Set It and Forget It

Paytm has an exciting new “Set it and Forget it” feature which allows you to schedule all your bill payments in advance by pre-selecting the date, amount, and frequency that you want to pay them. This means that whether you are at home or travelling, you never have to worry about missing a bill payment again!

Is the Paytm App Secure?

The Paytm Canada mobile app uses security (encryption) similar to what your bank uses. That being said, it is advisable to ensure you protect your account with a strong password and to passcode-protect your phone as well.

Are There Fees For Using Paytm?

There are some convenience fees for using the app to pay your bills with a credit or debit card. Payments made using your bank account and/or Paytm cash are FREE!

  • Bank account: no fees
  • Paytm Cash: no fees
  • Mastercard: 1.75% convenience fee (starting Nov 1, 2019)
  • Visa Debit: 1.25% convenience fee (starting Nov 1, 2019)
  • American Express credit card: 3% convenience fee

Are there any limits on Paytm Points?

There are some limits to how many Paytm Points you can earn every month. Depending on the different categories of transactions, the limits are: 

  • Utility Bills = 500 points per month
  • Credit Card Payments = 2000 points per month
  • Tax Payment = 1000 points per month
  • Tuition = 500 points per month
  • Other Bill Payments = 500 points per month

Note that these limits reset every month, so you can earn points all year long!

Related Posts


Earning rewards for paying your everyday bills is a revolutionary idea. As of this writing, Paytm is the only app offering such an opportunity in Canada. In addition to saving, the app also makes your life easier by ensuring you remember to pay your bills when they are due.

Earn Rewards With Paytm. Do you know that you can get cash back when you pay your utility bills, tuition, insurance, credit card balance, and more? With the Paytm app, every time you pay your bills, you get a cash reward. #paytm #reward
Paytm Canada Ratings
  • Ease of Use
  • Rewards and Bonuses
  • Zero Fees
  • Participating Companies
  • App
  • Credibility


Paytm Canada rewards you when you pay your bills. Bills need to be paid, and earning rewards while doing so is a great bonus.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

12 thoughts on “Paytm Canada Review: Earn Rewards While Paying Your Bills”

  1. Gravatar for Leo

    Thank you for the detailed review. I think I’ll download it and give it a try.

  2. Gravatar for Holly

    I signed up and used your code! Awesome deal indeed!

    • Gravatar for Enoch Omololu

      @ Holly: Awesome, Great to hear. Thanks!

  3. Gravatar for Bobby D

    Im confuse, Is there a fee to use your credit card?


    • Gravatar for Enoch Omololu

      @Bobby: Yes, a convenience fee is charged when you pay your bill using a credit card. To avoid any fees, use the app to pay your bill using your chequing account.

  4. Gravatar for Orly

    Please read the comments about PayTM on the app stores BEFORE you download.

    Apparently, PayTM changed their business model quite awhile ago, and now it will cost you $9 of your own money for a $10 Amazon Gift Card (+1000 PayTM points). You can’t just redeem your 10,000-100,000 points anymore (for example).

    PayTM is totally irrelevant. Used to be great, but I guess they got greedy . . That or needed a way to pay that $1.4 billion back to SoftBank and Mr. W. Buffet.

    They also started charging these new ridiculous “Convenience Fees” as of Nov. 1, 2019.

    Please re-review this product.

    • Gravatar for Enoch Omololu

      @Orly: You can still redeem a $10 Amazon gift card using 10,000 points. Sometimes, the gift cards are sold out or not offered …or offered using the part-payment model you mentioned above for those who do not have adequate points to pay for the entire value outright. In this case, you can go for a lower denomination gift card and redeem as many as you have the points for. I know this because I just redeemed $110 worth of Amazon gift cards and had to redeem my points for 11 Amazon gift cards worth $10 each.

      I agree with your comment about the convenience fee for credit card payments. I only use my chequing account for payments when using the app. Not as lucrative as it previously was.

    • Gravatar for Enoch Omololu


      Apparently a lot can and do change in a matter of weeks or days with these Fintech companies. You are absolutely right about the new Paytm changes and the inability to redeem any free gift cards without paying. Total bummer! This was not the case when I redeemed the Amazon gift cards I spoke about in my earlier response.

      I will be editing the post to reflect the new changes. The app appears to be no longer worth the hassle, unfortunately.

  5. Gravatar for Nas

    Are there any other alternates to Paytm in Canada? Because now all the GC shows either sold out or just worth $1, so not useful anymore but just to keep track if payments.

    • Gravatar for Enoch Omololu

      @Nas: You are right. The service has gone downhill and it’s become almost impossible to redeem points. I haven’t come across a similar app that works in Canada, unfortunately.

  6. Gravatar for Brijesh Patel

    Very Bad way to shutdown the company. I have 170$ worth points that are useless now as they dont have any rewards cards available. Worst app as they did know that are shutting down so why they didnt add the gift cards to purchase.

    • Gravatar for Enoch Omololu

      @Brijesh: I agree and I am in the same boat as you with unredeemable points.

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  • Earn up to 225x more than other banks!
  • Get 2.25% interest rate* on every dollar.
  • No monthly fees & unlimited transactions.
Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.