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Business Economy


Paytm eyes to grow its merchants base to 25 million in year 2020

Chandigarh, Jan 20 (UNI) India's largest payments gateway Paytm has set target to add ten million more merchants to take its merchant base to 25 million during the current year under its All-in-One QR across the country.
Sharing this while interacting to media persons here on Monday Sajal Bhatnagar, Vice President of paytm said "currently we have about 15 million merchants onboard making financial transaction round the clock and eye on adding 10 million more merchants during the current as a part of expansion plans."
"Similarly, we have plan to bring half a million merchants onboard in Punjab and Haryana states during the period as a part of the drive that enables 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 zero per cent fee. Further, we are also targeting to achieve a 150% growth in digital transactions in these states during the year" Bhatnagar shared.
He said 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. The 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 with personalised QR codes, he added.
“Punjab and Haryana have been leading the wave of cashless payments in the country and we expect significant growth in digital adoption from this region in 2020. Paytm for Business app provides the complete digital retail infrastructure to our merchants and empowers them to grow their business. 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 quite simple and free of cost. 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 across the length & breadth of the country."
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