Paytm, India’s largest mobile-first financial services platform, announced that it has launched the ‘Paytm for Business’ app on Android Play Store. The app enables new merchants to sign up quickly and get a Paytm QR code to start accepting digital payments. Merchants can also manage their day to day payments and day-end reconciliations.
The app offers a complete suite of services allowing Paytm’s existing 6 million offline merchants along with new, to track payments, navigate through the past collections & trace settlements made to their preferred bank accounts. They can also generate a Paytm QR instantly through the app, print it, and start using it at their shops to accept unlimited payments directly into their bank accounts at 0% charge. Additionally, they can also share the Paytm QR with their customers through messaging platforms to receive payments. The app supposts downloading of daily, weekly and monthly transaction statements and gives access to critical information like estimated time of bank settlement, UTR numbers (Unique Taxpayer Reference) among others.
Available in 10 regional languages, the Paytm for Business App allows merchants to view their transaction details without the need to wait for a confirmation SMS or Email. The company aims to solve the everyday payments collection and reconciliation problems for merchants giving way to even higher accpetance of digital payments in the country.
Kiran Vasireddy, COO – Paytm said, “We are committed to building the best payments infrastructure for our Merchant partners. Our ‘Paytm for Business’ app is another step towards simplifying payments for the country’s vast & diverse business partner community. It will make managing day-to-day business operations simpler for our partner merchants & offer them the peace of mind that comes with having a dependable one-stop solution. All needs ranging from seamless acceptance of various payment modes to day-wise settlement summary have been taken care of. We are confident that new app will help millions of our existing & also new Merchant partners. We will continue to invest in our payments network to give every small & large merchant the power of digital payments with Paytm.”
Paytm pioneered QR-based payments in the country, allowing millions of small merchants to accept payments using their smartphones. Paytm QR now enables its merchant partners to accept Paytm, UPI & Card Payments directly into their bank accounts at no charges, as it aims at extending its support to all major payments instruments and help them grow their business. With ‘Paytm for Business’, the company now aims to offer merchants a go-to destination for all their payment-related information.