Paytm records 4 times growth in payments made to merchants during lockdown
The amount of payments received by merchants recorded in its e-ledger service Business Khata has crossed Rs 1,500 crore in about four months.
"We have seen four-time growth in payments received by merchants in Business Khata between January 8 to March 14 and March 15 to May 15," Paytm vice president Sajal Bhatnagar told .
The company launched free digital ledger service Paytm Business Khata for merchants on January 8 which allows the retailer enter item details, price, and customer's phone number.
Through this service, a merchant can set a reminder and send automated notifications (text message) to the customer on the scheduled date for payment using the same link via Paytm wallet, Paytm UPI, cards or net banking.
"Paytm Business Khata has become an essential service for kirana stores as it automates their manual cash collection. It has helped them to significantly improve cash flow and clear their sales outstanding digitally. We are overwhelmed with the growth achieved," Bhatnagar said.
He said that in about five months time, the business khata app has recorded total payments Rs 1,500 crore made to the merchants.
- 'Harry Potter' had a chance to represent Indian kids like me, but all we got were Parvati and Padma Patil's atrocious Yule Ball outfits
- Manchester United owners are getting drawn to the world's biggest cricket league – here's why
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- After Facebook, Google is looking to invest in Meesho
- Intel CEO says global chip shortage will not end before 2023
- October 1-20 cumulative rainfall 39% more than normal, says IMD
- Petrol and diesel prices hiked by 35 paise for the third consecutive day across the country
- As it unveils its most luxurious boutique multiplex yet in Mumbai, PVR is confident of a healthy revival with the opening up of theatres in Maharashtra