Paytm on Tuesday launched an ‘all-in-one payment gateway’ and ‘Paytm business solutions’ for SMEs to help them streamline and digitise their business processes. Along with this, the payments gateway provider also rolled out an ‘all-in-one PoS device’ for merchant partners across the country which will help them accept payments through Paytm Wallet, all UPI-based apps, debit & credit cards and most importantly – cash.
The Android PoS device was unveiled in the presence of Infosys co-founder and UIDAI founding chairman Nandan Nilekani. The PoS device comes with a full-size display and is pre-bundled with cloud-based software for billing, payments, and customer management. Besides accepting payments, it will also allow merchants to generate GST-compliant bills and manage all transactions and settlements through the ‘Paytm for Business’ app at one go.
Talking about the PoS device, Paytm founder & CEO Vijay Shekhar Sharma said, “This device offers a comprehensive business tool right on the desk of millions of small businesses. We strongly believe that offerings like these will help expand the market and drive further acceptance of digital payments, and at the same time enable our merchant partners to operate their business more efficiently.”
For enabling a more digitised business solution, Paytm’s All-in-One PG empowers SMEs to collect digital payments across all payment methods without the need of any website or app.
Commenting on the new digital business solutions, Nilekani said, “It is important for the small merchants to accept digital payments and be at the forefront as only they are the ones who can fuel and digitise the whole ecosystem. I am glad that Paytm has launched the right set of solutions for businesses.”
With the newly-launched products, the company is aiming to simplify and digitise payments for both B2B and B2C players who make regular payments to a large number of vendors, salaries and food allowance to employees, rewards or instant refunds to their customers and even other expenses like utility bills for multiple offices.