Paytm, the largest payment gateway company in the country, has now phased out merchant transaction charges for shoppers and small businesses through payments through Paytm wallets, UPI payment apps and RuPay cards.
The company had already given information about it. It has now been implemented. This will benefit small shopkeepers and traders, whose common customers will also benefit. Learn what facilities will be available from this decision of Paytm.
During the Corona Virus epidemic (Covid-19 Pandemic) and lockdown, micro, small and medium scale industries (MSMEs) were finding merchant transaction rates quite expensive. In view of this problem, Paytm will now incur an expenditure of Rs 600 crores in annual merchant discount rate as banks and other charges. Let me tell you that some time ago, Paytm had announced no charge of any kind on merchant transactions. It has now been implemented.
According to Paytm, around 1.7 crore shopkeepers and small traders will benefit from this decision. They use Paytm All-in-One QR, Paytm Soundbox and Paytm All-in-One Android POS (POS) to receive payments from their customers.
Paytm is one of the largest payment gateways and solutions companies in the country. Paytm has a large number of customers. The company says that the benefit that small traders and traders will get from this decision will also indirectly benefit their customers.
Paytm Senior Vice President Kumar Aditya said that all MSMEs would benefit from the waiving of these charges. The company’s decision will also encourage merchants to make digital payments. This will also strengthen the Digital India Mission.
Under this new feature of Paytm, merchants will also have the option to choose whether they can directly take payment in their bank account or Paytm wallet. The company is promoting the acceptance of payments in all other ways including Paytm Wallet, UPI, RuPay, NEFT and RTGS.
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