How India's MSME Sector, Lives Of Small Merchants Transformed Under Paytm's Leadership

India has emerged as the fastest growing economy in the world. While the country is making strides in all sectors, micro, small and medium enterprises or MSMEs have played a crucial role. The MSME sector contributes 30% to India’s GDP and 50% to its exports. India’s digital revolution has played a significant role in the growth of MSMEs. One name that stands out in the growth story of MSMEs in India is Paytm.

With its innovative products and services, Paytm has empowered the merchants to leverage the power of digital to build and scale up their businesses. From a roadside vendor to a branded store, the fintech giant has added to the convenience of merchants with All-in-One QR codes and PoS machines. Paytm pioneered QR codes are omnipresent across the length and breadth of the country. With such diverse devices, Paytm has a wide range of payment options for users with Paytm Wallet, Paytm Postpaid, UPI, UPI Lite, netbanking, debit cards and credit cards.

Paytm has not only simplified accepting payments for small and medium businesses, but the tech innovator has also added convenience to merchants who struggle to manage payments. The company was the first to launch Paytm Soundbox, an iconic instant audio confirmation device for payments. With the Paytm Soundbox, merchant payments have changed forever. Now the merchant doesn’t have to keep checking her phone every time a transaction is made. This industry-first solution has streamline mobile payments for merchants.

Numbers speak for themselves. Merchant payments volume continues to witness sustained growth with total merchant GMV processed through the platform for Apr & May was Rs 2.65 Lakh Cr ($32.1 billion), marking a YoY growth of 35%. Paytm remains a market leader in merchant payments with 75 Lakh devices, both Soundbox and PoS machines, deployed at the end of April and May 2023.

The company is using technology to help solve everyday problems for millions of merchants. One major problem faced by MSMEs is access to loans. For MSMEs to grow and scale their business, Paytm has simplified access to credit in partnership with top financial institutions.

Paytm is the most trusted brand for merchants, making it their go-to platform for all their business needs. India’s leading payments and financial services company is giving a boost to entrepreneurship in the country. Paytm’s vast merchant network is a testament to its commitment to serving businesses.

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