Ahmedabad, Jan 17 (UNI) India's largest payments platform Paytm on Friday said that by the end of the current financial year, its merchant base in the country is likely to almost double to reach 25 million.
It also announced that it would be onboarding half a million merchants in the next 12 months from Gujarat.
Addressing a press conference here, Vice President of Paytm, Ripunjai Gaur said that it has a merchant base of 14 million across the country of which 3.7 million was in the western region and a total of 30 per cent was from Gujarat.
He said that the company has recently launched All-in-One QR across the country that enable merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account at zero percent fee. The platform offers a single reconciliation of all payments through its 'Paytm for Business' app. The company further plans to invest in merchant solutions for a deeper engagement beyond payments.
'The company has set a target to almost double its merchant base in India at 25 million by the end of the current financial year from earlier 14 million. The figure for Gujarat would be 2.5 million and for the whole of west region at 7 million, he said.
Gaur said that 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. 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' used by over 10 million Paytm partners has enabled them to manage their payments, view all their transactions in one place, order Paytm QR merchandise among various other services. Merchants can also avail multiple business services and financial solutions such as loans, insurance. 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, he added.
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