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Coronavirus Outbreak: Paytm records 4 times growth in payments made to merchants during lockdown – Firstpost


New Delhi: Digital payments agency Paytm has recorded round 4-fold bounce in payments acquired by merchants in its new ledger service amid the coronavirus pandemic, a senior firm official mentioned on Thursday.

The quantity of payments acquired by merchants recorded in its e-ledger service Business Khata has crossed Rs 1,500 crore in about 4 months.

“We have seen four-time growth in payments received by merchants in Business Khata between 8 January to 14 March and 15 March to 15 May,” Paytm vp Sajal Bhatnagar informed PTI.

Representational picture. Reuters

The firm launched free digital ledger service Paytm Business Khata for merchants on January eight which permits the retailer enter merchandise particulars, worth, and buyer’s telephone quantity.

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Through this service, a service provider can set a reminder and ship automated notifications (textual content message) to the shopper on the scheduled date for fee utilizing the identical hyperlink through Paytm pockets, Paytm UPI, playing cards or web 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 mentioned.

He mentioned that in about 5 months time, the enterprise khata app has recorded whole payments Rs 1,500 crore made to the merchants.

The firm claims that utilizing the ledger service, about 10 lakh merchants have moved digitally and have additionally discovered to set fee due dates for credit score transactions and ship automated reminders.

Updated Date: May 21, 2020 20:03:51 IST

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