As per the newest reports coming in, Paytm has now announced that merchants will now be able to receive unlimited payments through Paytm wallet at a 0% fee.
This is a great news for merchants who rely on the various online payment app for digital transactions.
Read on to find out all the details right here!
Paytm Announces 0% Fee For Receiving Payments For Merchants
Digital payments and technology platform, Paytm has now announced that there will be no fee for an unlimited number of payments from their customers through the Paytm wallet along with UPI and Rupay cards. As per reports, there will be a direct settlement in the merchants’ bank accounts.
A statement issued by the company states that this is a revolutionary move and will offer merchants a with a single point of reconciliation for all of their payments. Additionally, merchants will no longer be required to keep multiple QRs at their counters. They will only need the Paytm ‘All-In-One QR’ in order to accept payments from Paytm wallet, Paytm UPI, or any other UPI app.
17 Million Merchants Transacting Through Paytm To Be Benefitted
Kumar Aditya, Sr. Vice President, Paytm has remarked, “We are empowering our merchant partners across the country to accept wallet payments and get them directly into their bank account without worrying about the charges.”
He also stated that this new development will help merchants to save more money as they will now be able to carry out unlimited transactions with the help of a single QR code.
The statement has also said that the new decision to make all payments free of charge will enable SMEs, Kirana merchants, wholesale traders, retailers, and freelancers to boost the growth of digital and mobile payments across the country.
This new decision by Paytm will be beneficial for more than 17 million merchants. It states, “The total number of merchants who rely on Paytm for payment services has already crossed the 17 million mark.”
The payments app also has plans to expand its merchant base to 25 million by the next fiscal, and this move will definitely help attract more merchants to shift to the app.
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