Paytm has announced its two innovative business solutions for SMEs that will help them streamline & digitize their business processes. The company has introduced ‘All-in-One PG‘ and ‘Paytm Business Solutions’ that increases the overall efficiency of both accepting payments and making payments. Together, these two solutions complement the newly launched ‘All-in-One POS‘ device that is set to revolutionize the retail industry in India.
Paytm’s All-in-One PG empowers SMEs to collect digital payments across all payment methods without the need of any website or app. Merchants with an annual turnover of over Rs 50 crore stands to gain the most from this service, as they are required to comply with recent Government notification to provide the facilities for accepting payment through digital modes. SMEs can easily create and share payments links & invoices without investing time & resources to build their own platform. In addition, they have a choice of building their own web storefront using Paytm and further expand their business by acquiring new & digital-savvy customers.
Further, All-in-One PG enables developers and start-ups to collect user payments across all payment methods on their apps in a seamless in-app manner without any redirections to payment gateway providers thus avoiding possible dropouts and hence higher success rates. Paytm network today has over 200mn+ unique saved cards and bank accounts repository; this feature enables partner apps the ability to drive faster conversions and reduce transaction times while making payments on All-in-One PG.
Paytm Business Payments is a breakthrough in SME payments that enables both large and small businesses to track and pay all their payments from one place. Businesses can use APIs or Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. With this, the company is aiming to simplify and digitize 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.
Vijay Shekhar Sharma, Founder & CEO of Paytm said, “Government initiatives like Zero MDR and encouraging digital acceptance for businesses have opened up new opportunities for digital payments in India. Today, we are announcing our All-in-One PG and Business Payment solutions for SMEs. These services will further deepen the importance of digital payments in their business and bring to them the advantages of the digital economy.”