On a major expansion spree, Paytm, the mobile-first financial services platform, has announced the launch of the ‘Paytm for Business’ app on the Android Play Store. The app enables new merchants to sign up quickly and get a Paytm QR code to start accepting digital payments. Merchants can also manage their day-to-day payments and day-end reconciliations.
The app offers a complete suite of services allowing Paytm’s existing six million offline merchants along with new users, to track payments, navigate through the past collections and trace settlements made to their preferred bank accounts.
They can also generate a Paytm QR code instantly through the app, print it, and start using it at their shops to accept unlimited payments directly into their bank accounts at zero per cent charge.
Additionally, they can also share the Paytm QR code with their customers through messaging platforms to receive payments.
The app supports downloading of daily, weekly and monthly transaction statements and gives access to critical information such as estimated time of bank settlement, UTR (unique taxpayer reference) numbers, among others.
In an effort to reach out to the largest consumer base possible, Paytm has launched the new app in 10 regional languages.
The company added that the Paytm for Business App allows merchants to view their transaction details without the need to wait for a confirmation SMS or email. The company aims to solve the everyday payments collection and reconciliation problems for merchants giving way to even higher acceptance of digital payments in the country.
Kiran Vasireddy, Paytm’s chief operating officer, said, “It will make managing day-to-day business operations simpler for our partner merchants and offer them the peace of mind that comes with having a dependable one-stop solution.business-standard