Paytm has launched ‘All-in-One QR’ on Monday which enables merchants to accept unlimited payments through Paytm wallet, Rupay cards, any third party UPI, at zero % fee. Addressing a press conference held in Hyderabad on Monday, vice-president of Paytm, Saurabh Sharma, said that they have launched it concurrently in eight cities across the country.
“A customer has options to pay through Paytm wallet, Rupay cards, Paytm UPI and any other third-party UPI,” Mr Sharma said.
Out of the 210 million digital transaction users in India in 2019 (financial year), 150 million were through Paytm. The payment platform intends to bring on board 1.5 million merchants from Andhra Pradesh and Telangana in the next six-months.
The ‘Paytm Business Katha’ complements the All-in-One QR by giving an option to the payment platform’s merchant partners to maintain digital ledgers of customer transactions including cash and credit. Merchants can set payment due date for credit transactions and send automated reminders. Customers will receive a notification with their billing history.
Besides, ‘Paytm for Business’ was also introduced which can be used by merchants to view, manage all transactions. “Settlements can be triggered to merchant’s bank account instantly,” Mr Sharma said.
To deepen engagement with merchants, ‘Soundbox’ is provided.” There are times when merchants do not receive SMS confirming that a transaction is fulfilled owing to latency in network. This transaction will be in limbo. There will be times when four to five customers scan All-in-one QR concurrently. It will be difficult for merchants to reconcile the transactions. So we developed the ‘Soundbox’,” he said. After payment is completed, the device replays the payment advise in vernacular language.
