The payments major intends to leverage this device to strengthen its offerings to small businesses across the country
Noida-headquartered Paytm is strengthening its offers in the digital payments space with a smart PoS device, launched keeping the small business owners in mind.
The device can be used for accepting payments as well as processing orders, said the company in a press note today.
It also comes bundled with Paytm's 'Scan to Order' service that is getting adopted by restaurants and takeaway joints across the country. Besides restaurants the terminal can be adopted by delivery personnel, kirana stores, small shopkeepers and others to accept digital payments on the go.
The company aims to issue over 2 lakh devices within the next few months which will generate over 20 million transactions per month. This device is integrated with the ‘Paytm for Business’ app to generate GST compliant bills and also to manage all transactions and settlements for the merchant.
“Our Paytm for Business app, Khata and payout services are providing the much-needed digitisation support to businesses to improve their efficiency and supporting them to join the Digital India mission,” said Renu Satti, senior vice president at Paytm.
During the ongoing pandemic, businesses have used the service to process payments of over Rs. 1500 crore either to the Paytm wallet, food wallet, gift voucher or bank account of millions of beneficiaries.