Paytm announced that its QR code based payment solution is now powering over 35 lakh merchants to accept digital payments. The solution is actively used by consumers to pay at a wide range of merchants that include large organized retailers, hospitals, tolls, food courts to neighborhood shops.
Paytm was the first company to invest in QR Code-based payments and its unique scan-to-pay user flow is fast becoming ubiquitous with mobile payments across the country. This zero cost payment solution combined with Paytm’s large customer base and breadth of use cases has enabled the company to build the largest and fastest-growing payment network in the country.
Speaking on the development, Deepak Abbot, Senior Vice President – Paytm said, “Our zero cost QR Code-based payments have become top of mind for both users and merchants alike. Scan-Paytm-QR-code-to-pay is becoming synonymous with mobile payments. In order to add more momentum to the traction, we are going ahead with aggressive innovation in areas of network through measures like making the app available in regional languages and expansion of merchant acquisition network in smaller towns. It is exciting to see that once our merchants and customers experience the power of convenient digital payments, it causes a rapid and permanent shift in behavior.”
Paytm has undertaken several initiatives to help the country’s merchants start accepting digital payments for free. It has made its platform available in 10 different regional languages – Hindi, Tamil, Telugu, Gujarati, Marathi, Bengali, Kannada, Malayalam, Oriya and Punjabi thereby resulting in a 5x traffic increase for the platform from smaller towns. It has also launched a 24*7 Merchant Helpline to assist merchants across India accepting payments using its cashless payment solution.