NE BUSINESS BUREAU
AHMEDABAD, NOV 27
To give thrust to digital payments, technology platform Paytm has announced that merchants can now receive unlimited payments through Paytm Wallet at a 0% fee, along with UPI and Rupay Cards. The move will benefit more than 17 million merchants who will enjoy a 0% fee on all their digital payments with direct settlement in their bank accounts, a release said.
This move by Paytm will provide merchants with a single point of reconciliation for all their payments. Merchants will no longer require multiple QRs at their counters. All they need is Paytm ‘All-In-One QR’ to accept payments from Paytm wallet, Paytm UPI, or any other UPI app, the statement added.
In recent months, Paytm has invested heavily in driving financial inclusion for merchants across India. The move will be a big boost for SMEs, Kirana merchants, wholesale traders, retailers, and freelancers in the quest to accelerate the growth of digital and mobile payments across the country. The total number of merchants who rely on Paytm for payment services has already crossed the 17 million mark.
Commenting on this initiative, Kumar Aditya, Senior Vice President, Paytm said, “We are empowering our merchant partners across the country to accept wallet payments and get them directly into their bank account without worrying about the charges. The move will help merchants save more with every transaction. Now they can transact without any limits, all through a single QR”
