Paytm launches all-in-one QR for merchants

PTI, Jan 8, 2020, 5:42 PM IST

Mumbai: Digital payments firm Paytm on Wednesday 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 percent fee, Paytm Founder and Chief Executive Officer Vijay Shekhar Sharma said at the launch.

The platform offers a single reconciliation of all payments through it ‘Paytm for Business app. Owned by One97 Communications Limited, the mobile wallet company currently enjoys 54 percent market share of mobile payments for merchants.

“We are very proud to launch an encompassing all-in-one QR for businesses. The 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,” Sharma said.

Besides, it also rolled out the QR code into various utility items such as calculators, power banks, clocks, and radio, which merchants can use in their shop for daily requirements, the company said.

The new smart device for payment processing ‘soundbox’ is one of the QR merchandise that allows the merchants to hear confirmation of payment receipt, which 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 that merchants can integrate into any PoS(point of sale) system.

The company also introduced a new service ‘Paytm Business Khata’ that complements the all-in-one QR.

“Business Khata’ further empowers Paytm merchant partners to maintain digital ledgers of all their customer transactions including cash and credit,” the company said.