Back5 innovative offerings that made Paytm a pioneer and a top choice for merchants
With nearly 50 lakh device deployments, Paytm is further strengthening its pioneership in the offline payments landscape and continues to be the leader in peer-to-merchant (P2M) transactions.Here are 5 innovative offerings that has made Paytm the top choice for merchants in the country:
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India has become a global leader in digital payments with millions of citizens now opting for online transactions instead of cash. In the initial days of India’s digital payments revolution, most fintechs focused on empowering consumers, while merchants remained reluctant about accepting payments online.
This is where Paytm, India’s leading digital payments and financial services company, played a crucial role and created a two-sided ecosystem that paved the way for merchants to seamlessly accept digital payments. Paytm has empowered nearly 3 crore merchants in the country, enabling them to grow their businesses with innovative payments solutions and devices.
With nearly 50 lakh device deployments, Paytm is further strengthening its pioneership in the offline payments landscape and continues to be the leader in peer-to-merchant (P2M) transactions. Here are 5 innovative offerings that has made Paytm the top choice for merchants in the country:
The revolutionary QR code
Paytm pioneered the QR code revolution in India, having introduced the iconic payments solution in 2015. The QR code revolutionized the way merchants accepted payments from customers and has been instrumental to India’s digital payments leadership; it was also the first solution that enabled online transactions at scale.
It has empowered millions of small and medium businesses to seamlessly accept payments from consumers within seconds. As far as Paytm’s role in popularising the use of QR code in India is concerned, the iconic blue and white Paytm QR code scanner stationed at shops in every alley, street and major market across the country speaks volumes.
The iconic Soundbox
Paytm founder and CEO Vijay Shekhar Sharma recently shared the story behind what led to the inception of the Paytm Soundbox, a device that provides instant sound alerts to merchants on receiving payments successfully from customers.
The company’s Soundbox has proved to be a revolutionary innovation for merchants in the country and is playing a vital role in empowering small and micro-businesses in India.
The Soundbox helps merchants to easily keep track of all payments received, with support for multiple payment methods such as Paytm Wallet, Postpaid, Paytm UPI and other BHIM UPI apps, net banking and cards. It also supports multiple languages such as English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi and Odia.
Merchant loans
Paytm also offers easy credit access to millions of merchants on its network, as part of its loan distribution business in partnership with top financial institutions. With this, Paytm has empowered millions of merchants by allowing them to meet working capital needs quickly to grow their businesses.
The volume and value of merchant loans availed by small businesses through Paytm are witnessing a sharp uptick, aided by the strong growth in its devices business.
Paytm Payment Gateway
Paytm Payment Gateway is one of the leading payment aggregators in India, powering some of the country's largest brands. It has empowered merchants with a wide variety of payment solutions under one platform.
Paytm Payment Gateway allows online and omni-channel merchants to reliably accept payments across all channels. Paytm offers merchants over 100+ payment sources, a powerful dashboard for data-driven insights, and industry-best success rates.
It also enables unique features like instant activation for quick onboarding (new merchants), access to all major payment instruments (Paytm Wallet, Paytm Postpaid, credit/debit cards, UPI etc.), next-day settlements, secure card tokenization, and more
Enabling commerce for merchants
Paytm also allows merchants to advertise or host their businesses on its platform, enabling them better visibility through its vast consumer base. Leveraging Paytm’s wide reach, many brands have been able to maximise their growth.
Merchants use the Paytm app to enable commerce such as selling tickets and deals, in addition to enabling advertisements. Paytm’s commerce and cloud services continue to witness a steady rise in demand among various brands, indicating that it is growing in popularity among merchants who want to expand their reach.
Disclaimer: This article has been produced on behalf of Paytm by HT Brand Studio.
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