Paytm started a wave of E-Wallets in India and made the digital process of payments very fluent for the common man. It accelerated the growth of digital economy and how. The pandemic just added to the usage of Paytm and other wallets such as Google Pay, Phone Pe, and Bhim UPI.
Further to this, Paytm launched a smart Point of Sale device for small or micro-enterprises and businesses, to make the process of digitalizing them smoother and easier. The device can be used for generating payments as well as processing orders, said the company in a press note today.
The app’s ‘Scan to Order’ is also incorporated with the device. It is getting adopted by restaurants and takeaway joints across the country. Besides restaurants, the terminal can be adopted by delivery personnel, kirana stores, small shopkeepers, and others to accept digital payments on the go.
The company has in view, to issue over 2 lakh devices within the next months. The devices will generate over 20 million transactions per month. This device is integrated with the ‘Paytm for Business’ app to generate GST compliant bills and also to manage all transactions and settlements for the merchant.
“Our Paytm for Business app, Khata, and payout services are providing the much-needed digitalization support to businesses to improve their efficiency and supporting them to join the Digital India mission,” added Renu Satti, senior vice president at Paytm, at the press note.
During the COVID – 19 pandemic, businesses have used the service to process payments of over Rs. 1500 crore either to the Paytm Wallet, food wallet, gift voucher or bank account of millions of beneficiaries.