Paytm has announced that its Payments Bank Ltd platform has crossed the 100 million mark for UPI payment handles. The company also notes that there are now 300 million Paytm wallets at present and 220 million saved cards along with 55 million bank accounts. It recently launched a new Android based all-in-one POS device for merchants to accept payment through a variety of methods, for which the company claims to serve over 16 million merchant partners across the country.
“We have embraced UPI since its launch and have expanded its reach to the small cities and towns. Our focus remains on expanding UPI payments at offline retail stores. We will continue to leverage UPI into all our products and offerings,” said Satish Gupta, MD & CEO, Paytm Payments Bank.
Paytm Payments Bank Ltd (PPBL) of the Paytm from One97 Communications Ltd (OCL) leverags UPI network to offer a host of services for all wallet users and merchants across the country. Talking about the all-in-one POS device, the Android based machine can accept Paytm Wallet, all UPI based apps, Debit & Credit Cards and cash. It comes loaded with billing, payments, and customer management software, noted Paytm in a press statement on Wednesday.
The Paytm Founder and CEO, Vijay Shekhar Sharma, had launched the all-in-one POS device last week in Bengaluru with Industry’s veteran Nandan Nilekani, Co-founder and Chairman, Infosys and founding Chairman UIDAI.
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“Over the past 18 months, we have invested a lot of time in understanding the needs of small businesses around digital payments. Today, we are launching this incredible Paytm All-in-One POS device with a super sleek android form factor with cloud services. 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,” said Sharma.