Payments platform Paytm has launched an encompassing All-in-One QR for businesses across the country. This QR will enable all the merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account at 0% fee.
“We are dedicating 2020 to merchants. We will also continue investing in the payments business until 500 million Indian come into mainstream digital payments,” said Paytm founder Vijay Shekhar Sharma.
The company also launched an 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. Besides this, the company is unveiling 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 merchant only app ‘Paytm for Business’ is used by over 10 million Paytm partners. It 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. The merchant partners can also transfer payments instantly into their bank accounts at any time.
"We are very proud to launch an encompassing all-in-one QR for businesses. The all-in-one QR is a must-have business tool as it is only payment QR that allows merchants to accept payments from Paytm wallet, all UPI apps, and cards," Sharma told news agency PTI.
The payment app has also introduced a new service ‘Paytm Business Khata’ that complements the Paytm All-in-One QR. This further empowers the merchant partners to maintain digital ledgers of all their customer transactions including cash and credit (udhaar). With ‘Paytm Business Khata’, merchants can set payment due date for credit transactions and send automated reminders. The customers will receive a notification with their billing history, and they will be able to make payments through the same link.