Mumbai: India's largest payments platform Paytm on Wednesday (January 8) announced the launch of its All-in-One QR for merchants across the country. This QR will enable merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account at zero per cent fee, said a Paytm statement.
The platform, owned by One97 Communications Limited, offers a single reconciliation of all payments through its 'Paytm for Business' app.
The company also launched 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. It unveiled 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 soundbox is one of the most popular QR merchandise that merchants love as it allows them to hear confirmation of payment receipt. It supports all payment modes and multiple languages. Paytm is making payments more convenient with its dynamic QR for merchants where QR code specific to a single order can be generated which merchants can integrate into any PoS system," the statement said.
The merchant only app 'Paytm for Business' is extensively 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.
"It's innovative offering has empowered Paytm merchant partners to transfer payments instantly into their bank accounts at any time. To encourage wider acceptance of digital payments, Paytm offers rewards and cashback to its long associated merchant partners," the firm added.
Vijay Shekhar Sharma, Founder & CEO - Paytm said, “At the forefront of the payment revolution, we are very proud to launch an encompassing All-in-One QR for businesses. The Paytm 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. I am sure this QR will accelerate the Digital India mission and make more financial services available to the underserved."
The company also introduced a new important service 'Paytm Business Khata' that complements the Paytm All-in-One QR, empowering Paytm 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, the statement added.