Hyderabad/UNI: India’s largest payments platform Paytm, owned by One97 Communications Limited, on Monday launched All-in-One QR in Andhra Pradesh and Telangana to enable merchants accept unlimited payments through Paytm Wallet, rupay cards and all UPI based payment apps directly into their banks accounts at zero per cent fee.
Unlimited payment acceptance from Paytm Wallet, UPI and Rupay cards through this platform was expected to touch 2X business growth in these two states within a year, Paytm Senior Vice-President Saurabh Sharma at a press conference here.
The platform offers a single reconcillation of all payments through its ‘Paytm for Business’ app and the company plans to invest in merchant solutions for a deeper engagement beyond payments, Mr Sharma informed.
Currently, 1.5 mn registered merchants with Paytm were there in Andhra Pradesh and Telangana and we expect it to touch 3.2 mn by end of March, 2021, he said the All-in-One Qr was launched at 7 towns across the country today and across Pan India in next 15 days.
Launching its 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, the Paytm Senior Vice President said it has unveiled personalized QR codes with merchants’ names, logos and pictures to strengthen their association with digital payments.
The soundbox is one of the most popular AQ merchandise as it allows them to hear confirmation of payment receipt and it supports all payment modes and multiple languages, he said.
Sharma said Andhra Pradesh and Telangana have witnessed a 60 per cent growth in the last year and we are expecting significant growth in digital adoption from this region in 2020 as well.
With addition of All-in-One QR to this app, we will support the merchants at every step of their journey, right from accepting digital payments to availing various services and products. We will continue to accelerate the digital India mission and make more financial services available to the underserved, he added.