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?!

 

[jack333]

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

But we need shop photo and letter pad with gst exemption. Anyone can't open

 

[VISHESH_BANSAL]

But we need shop photo and letter pad with gst exemption. Anyone can't open

Now Paytm has strict rules for fresh DC/CC Activation.

Earlier koi bhi nalla berozgar Paytm merchant account khol ke baith jata thha Rozgar ke liye 🤣

 

[Deleted member 11974]

But we need shop photo and letter pad with gst exemption. Anyone can't open

For DC cc transactions may be requiring but for accepting through qr
Still not strict checks.
My friend told me
He rotates lakhs through his merchant qr using rupay cc

 

[PassiveBTC]

you can sign up for paytm merchant account without much hassle.

So, yes, I did sign up for a Paytm business account after completing all the necessary KYC norms they have, like 'click a selfie holding your PAN.' It took 24 hours for approval, but it is useless for me because when I scan the QR code, it's not allowing me to pay with my Rupay credit card. Only bank accounts are showing as UPI payment options. What am I doing wrong here? Or is the system smart enough to understand? I guess if it was that easy, then everyone would be doing it.

you can sign up for paytm merchant account without much hassle.

 

[Deleted member 5552]

So, yes, I did sign up for a Paytm business account after completing all the necessary KYC norms they have, like 'click a selfie holding your PAN.' It took 24 hours for approval, but it is useless for me because when I scan the QR code, it's not allowing me to pay with my Rupay credit card. Only bank accounts are showing as UPI payment options. What am I doing wrong here? Or is the system smart enough to understand? I guess if it was that easy, then everyone would be doing it.

Which UPI app you used to pay? Did you try BHIM app. Once I used BHIM to Paytm merchant QR and transaction was successful 👍

 

[PSC_Infinia]

Doing 12 lac transaction per annually can highlight in AIS? I have being doing 10-12 lac per annually from my rupay credit card to my own Paytm merchant QR

Will it be a problem?

 

[4uziaul]

Doing 12 lac transaction per annually can highlight in AIS? I have being doing 10-12 lac per annually from my rupay credit card to my own Paytm merchant QR

Will it be a problem?

Didn't you open a thread about this a few days ago? How much assurance do you need? Yes, it will be a problem for you unless you can justify the expenses when the income tax department sends you a notice.

 

[Tosh]

Why go through all this hassle. If you look around on the forum a bit there are ways to directly transfer funds from rupay credit card to bank without any fees and you get cashback too

Although I would still suggest steer away from doing it. Why open a Pandora's box at the end of the day these are all loop holes and can land you into trouble if you cannot justify it. Not worth few thousand points you earn in the process

 

[PSC_Infinia]

Didn't you open a thread about this a few days ago? How much assurance do you need? Yes, it will be a problem for you unless you can justify the expenses when the income tax department sends you a notice.

If I'm taking the credit card fund to my own saving account and from the same saving account I'm paying my credit card, can this justification be used?

 

[4uziaul]

If I'm taking the credit card fund to my own saving account and from the same saving account I'm paying my credit card, can this justification be used?

I am sorry, I am not a CA, but this entire thing is wrong in many ways. It's not like you are dealing with just a few thousands of rupees; lakhs are involved. My only advice to you is to tread carefully.

 

[CC-Muncher]

Doing 12 lac transaction per annually can highlight in AIS? I have being doing 10-12 lac per annually from my rupay credit card to my own Paytm merchant QR

Will it be a problem?

Jald hi pata chalega tumhe kya problem hone wali hai.. Just wait and watch

 

[PSC_Infinia]

Jald hi pata chalega tumhe kya problem hone wali hai.. Just wait and watch

Aab jo hoga vo toh hoga
Aur jab hoga tab solution be bata dena

 

[Pankhuri]

Aab jo hoga vo toh hoga
Aur jab hoga tab solution be bata dena

Not much difficult tbh, as long as you can justify all the income. You might need to pay tax on the amount you received as cashback/reward points though.