Paytm started out in Canada back in 2014 as a two-member team in Toronto. Today that entity if 55-member strong and works on software, data and machine learning for mobile wallet payments.
Today, the company has launched the Paytm Canada app for Canadians to pay for their cell phone, cable, internet, electricity and water bills. They can also use it to pay insurance and property taxes. It is similar to Paytm’s app in India, only specific to Canada. The Mayor of Toronto Mr. John Tory launched the app with Vijay Shekhar Sharma, CEO – Paytm, at the company’s office in Noida.
Here are some of the main features of the Paytm Canada app:
- Pay Canadian Bills: Paytm Canada helps you make secure and seamless bill payments for thousands of service providers across Canada.
- Bill Reminders: A bill reminder will show up 10 days prior to the estimated due date. You will receive multiple reminders until you pay your bill or notify Paytm to stop.
- 100% Service Assurance: Paytm Canada debits your money only after your bill is paid.
The Paytm app for Canada is available on iOS and Google Play Store for users. Paytm has set an unknown spending limit for every person, and can extend it by verifying user’s details. This can be done by submitting a request to Paytm with the subject “Increase my limits”.
There are plenty of mobile wallets available in Canada, especially from banks like Scotiabank, Paypal, RBC and TD. However, it seems that Paytm has done its research for quite some time now and is ready to launch an app in the market.
Alibaba-backed Paytm’s entry into Canada is a major step for the company that is looking to enter the world’s largest economy, the United States. Toronto is the closest large city to the US and it makes sense for the company to start its operations.
With over 200 million users in India, Paytm will resonate with the minds of the Indians living in Canada. Moreover, Indians going to Canada will also be able to use their wallets in Canada alongside the Indian counterpart.