Payment major Paytm has launched ‘Paytm for Business’, a standalone app for merchants to track payments instantly, navigate through the past collections and track settlements made to their preferred bank accounts. Businesses can also generate QR code to accept payments.
The merchant-centric app is available in more than 10 regional languages and has already crossed a million download mark.
With this, merchants can now view their transactions without the need to wait for a confirmation SMS or email. It lets merchants access details of every transaction, weekly and monthly statements and gain access to critical information like estimated time of bank settlement, UTR numbers of daily bank settlement, among other things.
Importantly, the app is also integrated with Paytm’s instant messaging service Inbox. It also gives priority access to dedicated merchant helpdesk. The company says that it will add new features to the app every fortnight. Currently, it’s focusing to release an app for merchants to collect payments seamlessly, not restricting them to just wallet, cards, or UPI.
To gain fast paced traction given its mammoth consumer and merchant base, the company had integrated BHIM UPI, the government-owned mobile payments interface, onto its platform as it looks to double its monthly user base over the next two years.
Earlier in December last year, the Noida-based company had announced that it would be investing Rs 500 crore in 2018 to drive acceptance of its QR code feature. It has a team of 10,000 dedicated sales professionals for creating awareness about Paytm QR code feature across the country.
Last week, WhatsApp Business has made a debut on Google Play store in five countries. At present, the Android-only app lets businesses to display information such as a business description, email or store addresses including the website. India is slated to witness Whatsapp Business app in coming weeks.
Paytm for Business: link