Udaipur : After pioneering the digital payments revolution in the country, Paytm, India’s leading digital payments and financial services company, has worked on expanding and enhancing its diverse range of offerings that have not only unprecedented value to the lives of millions of citizens, but also businesses that have been able to rapidly scale efficiency.
One such innovative offering that has helped millions of businesses – from neighbourhood kirana stores to large enterprises – flourish is the Quick Response (QR) code-based payments that it introduced way back in 2015. It allowed Paytm’s merchant partners to accept payments completely digitally by scanning a QR code at their brick-and-mortar stores.
In January 2020, the company expanded the scope of this technology by introducing the all-in-one QR code to further empower its strong base of merchant partners with a one-stop solution for receiving online payments in all modes.
How Paytm’s all-in-one QR helps businesses?
In this era of digitisation, businesses of all sizes are expected to accept online payments in multiple modes, including third-party UPI apps, Rupay cards and debit and credit cards. But many merchants still struggle in this aspect and, in turn, miss out on maximising sales and revenue.
Here is where Paytm plays a decisive role to empower merchants on its platform. Businesses that use Paytm all-in-one QR do not face such hurdles as it enables them to accept payments from third-party UPI apps, RuPay Cards and banks at 0% fee, and a nominal 1% fee from the Paytm Wallet. Furthermore, businesses can benefit by upgrading to Paytm all-in-one QR as it offers single reconciliation of all payments, real time notifications related to accepted payments and instant bank account settlements.
In terms of efficiency, Paytm’s all-in-one QR code is easy to use and a user can scan it at retail outlets, enter the amount and seamlessly complete the transaction using a wide variety of payment options. As far as merchants are concerned, they can easily get the Paytm QR code by registering on the Paytm for Business app and ensure that they never face challenges with accepting digital payments in any form.
Paytm also runs a loyalty program to empower small businesses on its platform by giving them exciting offers and other services. Paytm’s merchant partners are eligible to earn unlimited reward points for accepting payments from Paytm Wallet, Rupay cards and all UPI-based payment apps through the Paytm all-in-one QR code. The reward points can then be redeemed for a voucher instantly or for purchasing exciting merchandise from the Paytm for Business app such as Sound Box, EDC and more.
Besides the all-in-one QR, businesses associated with Paytm also get a host of benefits including financial services like merchant loans, business services like Paytm Business Khata – a digital ledger for maintaining customer transactions and a host of exciting cashback offers.
As of Q4 FY22, Paytm’s merchant base expanded to 26.7 million merchants and the company remains focused on onboarding more small businesses on its platform as it strives to maintain its leadership position in UPI-based peer-to-merchants (P2M) transactions.
