Paytm launches its All-in-One QR to empower 1 million merchants in Tamil Nadu & Kerala
- Targeting 2x business growth in Tamil Nadu and Kerala within a year;
- Unlimited payments acceptance from Paytm Wallet, UPI and Rupay cards;
- Instant settlement in bank accounts and single reconciliation for all payments;
- Launches 'Business Khata' to manage credit and cash sales;
- Introduces Paytm QR merchandising for merchant partners
January 22, 2020.
Chennai.
India's largest payments platform Paytm (owned by One97 Communications Limited)
has today announced that it will be onboarding 1 million merchants from Tamil
Nadu and Kerala in the next 12 months. The company has recently launched
All-in-One QR across the country that has enabled merchants in these states to
accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based
payment apps directly into their bank account at 0% fee. Further, it is
targeting to achieve a 2x business growth in these states within a year.
The
platform offers a single reconciliation of all payments through its 'Paytm for
Business' app. The company plans to invest in merchant solutions for a deeper
engagement beyond payments. Paytm
has also launched its All-in-One Paytm QR into various utility items such as
calculator, power bank, clock, pen stands and radio which merchants can use in
their shop for daily requirements. It has unveiled personalized QR codes with
merchants' names, logos, and pictures to strengthen their association with
digital payments. These QR codes can be ordered from the merchandise store on
the 'Paytm for Business' app with doorstep delivery. The soundbox is one of the
most popular QR merchandise that merchants love as it allows them to hear
confirmation of payment receipt. It supports all payment modes and multiple
languages. Paytm is making payments more convenient with its dynamic QR for
merchants where QR code specific to a single order can be generated which
merchants can integrate into any PoS system.
The
merchant only app 'Paytm for Business' is extensively used by over 10 million
Paytm partners. It has enabled them to manage their payments, view all their
transactions in one place, orderPaytm QR merchandise among various other
services. Merchants can also avail multiple business services & financial
solutions such as loans, insurance. Its innovative offering has empowered Paytm
merchant partners to transfer payments instantly into their bank accounts at
any time. To encourage wider acceptance of digital payments, Paytm offers
rewards and cashback to its long associated merchant partners.
Paytm
has also introduced a new important service 'Paytm Business Khata' that
complements the Paytm All-in-One QR. This further empowers Paytm merchant
partners to maintain digital ledgers of all their customer transactions
including cash and credit (udhaar). With 'Paytm Business Khata', merchants can
set payment due date for credit transactions and send automated reminders. The
customers will receive a notification with their billing history, and they will
be able to make payments through the same link.
Saurabh Sharma, Senior
Vice President- Paytm said,“Tamil Nadu and Kerala
have witnessed a 50% business growth in the last year and we expect significant
growth in digital adoption from this region in 2020 as well. Paytm for Business
app provides the complete digital retail infrastructure to our merchants and is
a must-have business tool. This app offers a superior user experience and any
merchant can get access to it, irrespective of the scale of his business. The
on-boarding process is free of cost and hassle-free. The merchant does not need
to get done any KYC procedure or provide extensive documentation. With the addition
of All-in-One QR to this app, we will support the merchants at every step of
their journey, right from accepting digital payments to availing various
services & products that will help them to grow their business. We will
continue to add new-age banking & financial products to our Paytm for
Business app to address the requirements of our merchant partners across the
length & breadth of the country."
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