Are there any no-kyc apps that allow you to create your own merchant UPI ID?

[PassiveBTC]

Hey everyone,

So recently I used my RuPay credit card to withdraw cash (at 0% for free) by paying to a friend's merchant UPI ID and it got me wondering... wouldn't it make my life 10 times easier if I just create my own merchant UPI ID and pay myself from the RuPay credit card I have for literally all the expenses I have to do like Rent, Food, Grocery etc..

But the problem is all the major business UPI apps requires hard KYC verification and they have reviewing processes in place.

So, before giving up on the idea I'd like to ask the technofino community if anyone here knows how to create your own business UPI ID without all the KYC hassle. At the end of the day it's just a QR code right? So why don't we have non-kyc alternatives by now?!

 

[sxchzy]

Hey everyone,

So recently I used my RuPay credit card to withdraw cash (at 0% for free) by paying to a friend's merchant UPI ID and it got me wondering... wouldn't it make my life 10 times easier if I just create my own merchant UPI ID and pay myself from the RuPay credit card I have for literally all the expenses I have to do like Rent, Food, Grocery etc..

But the problem is all the major business UPI apps requires hard KYC verification and they have reviewing processes in place.

So, before giving up on the idea I'd like to ask the technofino community if anyone here knows how to create your own business UPI ID without all the KYC hassle. At the end of the day it's just a QR code right? So why don't we have non-kyc alternatives by now?!

you can sign up for paytm merchant account without much hassle.
afaik you can use your ruapy card by scanning merchant qr only

 

[CC-Muncher]

you can sign up for paytm merchant account without much hassle.
afaik you can use your ruapy card by scanning merchant qr only

You mean no proof asked for merchant account? Ever?

 

[Arun Pratheep]

You mean no proof asked for merchant account? Ever?

I have Paytm Merchant account. They didn't ask for any proof

 

[CC-Muncher]

I have Paytm Merchant account. They didn't ask for any proof

So do you alone send money to it?
Whats is the process? Any criteria?

 

[Arun Pratheep]

So do you alone send money to it?
Whats is the process? Any criteria?

I don't exactly remember the process as I created it more than 1 year ago. Just clicked become merchant and gave my bank details.
Previously I used to send money from Gpay to get "send to Merchant" cashbacks.
Now not using much.

 

[sxchzy]

Yes

You mean no proof asked for merchant account? Ever?

 

[KingAAR]

someone in forum wrote, it might create issues in itr

 

[sxchzy]

someone in forum wrote, it might create issues in itr

my friend has a turnover of crs in a tier 3 city he has a merchant account it has never come in his ais.

 

[KingAAR]

they said it department takes time to send notices like 7 years or more

 

[sxchzy]

they said it department takes time to send notices like 7 years or more

he rotates 5-7 Lakhs every month thrugh his qr never showed up on his ais

 

[KingAAR]

he rotates 5-7 Lakhs every month thrugh his qr never showed up on his ais

bro it might take time thats what im saying and in few cases cards were closed as well
after maybe 8-9 years they might issue notice… who knows

 

[sxchzy]

bro it might take time thats what im saying and in few cases cards were closed as well
after maybe 8-9 years they might issue notice… who knows

Possible
But until then you cab justify your spends saying where the money came from shouldn't have to be a problwn

 

[RupayMan]

Paytm QR codes are not eligible to get RP in Tata Rupay Card. Not sure about others

 

[sxchzy]

whe

Paytm QR codes are not eligible to get RP in Tata Rupay Card. Not sure about others

re is this mentioned
because all upi spends are eligible for neu coins afaik and i have received coins for that as well

 

[RupayMan]

whe

re is this mentioned
because all upi spends are eligible for neu coins afaik and i have received coins for that as well

Because Paytm QR are not designed in a such a way to detect merchant account or normal account, yet Paytm allows to create a QR code. So.. search our forum as well

 

[sxchzy]

Because Paytm QR are not designed in a such a way to detect merchant account or normal account, yet Paytm allows to create a QR code. So.. search our forum as well

i have receievd coins for sending money through paytm qr

 

[bugmenot]

I think any app related to merchant payment asks for KYC. I used many apps for rotating. At min they ask any id proof for mini kyc. For full kyc, aadhaar and pan. Few also do video kyc.

@Abhishek012 @VISHESH_BANSAL may have more details on this.

 

[jack333]

I think it gets reported to ais if more than 30l per annum. To enable debit and credit cards in paytm merchant account it asks for gst number and shop photo or letter pad with stamp of office

 

[sxchzy]

I think it gets reported to ais if more than 30l per annum. To enable debit and credit cards in paytm merchant account it asks for gst number and shop photo or letter pad with stamp of office

My friend has a merchant account.
There is a limit which allows card payments without gst number.
Above that limit if you want to accept payment you require gst number.
Same with accepting money through merchant qrs