Paytm brings ‘Merchant Referral’ to enable SMEs to accept payments in their bank accounts
One97 Communications Limited, that owns the brand Paytm, has introduced a first-of-its-kind “Merchant Referral” on its platform. This move is to enable small and medium merchant (SME) community to join the cashless revolution by accepting payments from any bank account into their bank accounts at no charges.
The company has been witnessing a surge in customer requests to help their neighborhood stores accept payments using Paytm. This feature will offer customers an opportunity to contribute towards the digital payment adoption in their respective neighborhoods and powering these shopkeepers with mobile payments.
Kiran Vasireddy, COO, Paytm, said, “We have encountered several instances where shopkeepers actively reach out to our customers seeking help to accept payments via the Paytm QR. With ‘Merchant Referral’, we would like to empower our customers to generate a request for these merchants instantly and enable them to play an active role in the country’s shift towards a cashless economy. This product is a showcase of an innovative offering that was designed grounds up based on the feedback of our customers and merchants.”
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