Indian digital payment company Paytm has introduced latest feature to make the payment methods more convenient. New Feature will allow the users to pay through paytm without the use of internet as well. The feature will give be a treat for people who don’t use smartphones but are willing to use paytm services. In order to use the service, users have to go through a registration process for once then they can make payments without use of internet by calling on toll-free number provided by the company.
First of all, Users have to register their number with the paytm and fill their paytm wallet with some money which can be sent through credit card, debit card or net banking. After the registration they can set their 4-digit pin. For the payment without internet, customer has to call on toll-free number 1800-1800-1234 then proceed by providing their phone number, the amount to be paid and the pin they have set with their number. The company will process the payment to the receiving end and money will be deducted from your paytm wallet. Until the introduction of this new payment method, there were 2 ways to pay the receiver, either by scanning the QR code or by providing the phone number of the receiver along with the amount to be paid.
After the demonetization took its toll across the country, the traffic at paytm saw an increase of 700% and the app downloads were up by 300%, which collectively brought more than 200% increase in the company profits. Paytm was started in 2010 with only features of mobile recharge and bill payments through digital methods. Later on, as the company gained popularity they installed the feature for booking bus tickets and later in 2016, provided the movie tickets booking feature by partnering with Cinepolis.
Paytm is helping people to cope up with the on-going changes in the economy after the demonetization announcement was made by PM Narendra Modi on 8 November. Therefore the company is looking after the requirements of the people from all walks of life. Most of the shopkeepers or merchants have started using paytm as the source of payments and have put their paytm QR code displayed at the counters. A statement by company said “Paytm has touched a record million transactions a day and is on the way to process over Rs 24,000 crore by march 2017, which will be more than by any other digital payment network in the country.”
Paytm has been able to provide digital payment solutions to approximately 850,000 businesses including cabs, petrol pumps, restaurants , departmental stores, stationaries who all have welcomed the company and their tactics. The company has vision to target atleast 5 million merchants by the end of the financial year (March 2017).