New Delhi: Mobile payments and e-commerce company Paytm said on Tuesday that its mobile interface will be available in 10 Indian languages, besides English, to boost adoption across the country as people struggle to pay for amenities after Rs.500 and Rs.1,000 notes ceased to be legal tender on 8 November.
The initiative is aimed at making mobile payments accessible to millions of Indians who will now be able to transact in their preferred language, Paytm said in a statement. It expects to reach 100 million smartphone users in India through the multilingual interface.
The interface will go live on the mobile application and webpage by Wednesday or Thursday, a Paytm spokesperson said.
“With this new move, we are looking to push our share of customers from tier II and tier III cities from 40% to 70%. Our goal is to make payments and commerce more inclusive, and this new feature will help us expand the market to include those users who would prefer to engage online in their native languages,” said Deepak Abbot, senior vice president, Paytm.
On the Android platform, Paytm will be available in Hindi, Tamil, Telugu, Gujarati, Marathi, Bengali, Kannada, Malayalam, Oriya and Punjabi. Roll-out for Apple handset users will happen soon after.
Through its numerous merchant tie-ups, Paytm can be used to pay at petrol pumps, grocery shops, restaurants, multiplexes and hospitals. It is also used to make online payments for services like mobile recharges, movie tickets, travel bookings, food ordering and shopping.
Paytm and other e-payment companies are swiftly announcing new services to capture the potentially lucrative opportunity for cashless payments presented by the currency demonetization.
MobiKwik, another mobile payments and e-wallet firm, said it was allowing MobiKwik wallet users to transfer money to bank accounts without any additional fee, besides launching a round-the-clock call centre to help users with transactions and application downloads.
MobiKwik said transactions on its platforms had shot up 18 times since the government pulled Rs.500 and Rs.1,000 notes out of circulation.
Paytm said it will touch Rs.24,000 crores in total transaction value by March, more than any other payment network in the country. It registered record a five million transactions daily over Saturday and Sunday.
Since 9 November, the company claims it registered a 700% increase in overall traffic on the platform and 1000% growth in the value of money added to Paytm accounts. In addition, the average transaction value increased by 200% and the number of mobile app downloads by 300%.
One97 Communications-owned Paytm claims it has a user base of 150 million and 950,000 merchants on its platform.