Indian digital payments company Paytm has introduced ‘All-in-One QR’ code for merchants.
The launch will enable the businesses to accept unlimited payments through Paytm Wallet, Rupay Cards and other UPI based payment apps. The payments will be directly credited to their bank account at zero processing fees.
Go deeper with GlobalData
Additionally, it will also provide single reconciliation of all payments through the ‘Paytm for Business’ app.
Paytm founder and CEO Vijay Shekhar Sharma was quoted by PTI as saying: “We are very proud to launch an encompassing all-in-one QR for businesses.
“The all-in-one QR is a must-have business tool as it is only payment QR that allows merchants to accept payments from Paytm wallet, all UPI apps, and cards.”
The Indian payment firm also introduced ‘Paytm Business Khata’ to enable merchants maintain digital ledgers of all customer transactions.
Paytm is owned by One97 Communications. Currently, it holds around 54% market share of mobile payments at merchants in India.
In November last year, the company raised $1bn in a new funding round led by US-based T Rowe Price.
The round increased its valuation to nearly $16bn.
Paytm intends to utilise the proceeds to expand its payments and financial services in rural parts of India.
Last year, the Noida-based firm also launched bulk payments option for merchants.
