Paytm introduces 'My Payments' feature, automates monthly expenses
The 'My payments' feature will enable Paytm users to make recurring, high-value payment and other monthly expenses in an instant
One97 Communications Limited, the firm that owns digital payment major, Paytm, announced the unification of bank transfers for its customers with the new 'My Payments' feature on its app.
This will enable Paytm users to make recurring, high-value payment and other monthly expenses in an instant. Using the Paytm app, bank transfers can be done from and to any bank account, making it easier for customers to make payments at zero charge, a facility which even non-KYC Paytm users can avail.
With this new addition to its multilingual app, Paytm is aiming to process Rs 60,000 crore in monthly bank transfers alone by the end of this year. The company is also planning to invest Rs. 5000 crore in its core business, expecting to increase the number of transactions from one billion to two billion this year.
"We have now simplified these payments with 'My Payments' and are expecting six-fold growth owing to this rapid shift in consumer behavior in favor of going cashless. Our users understand that Paytm is more than just a digital wallet company and we will continue adding more such customer-centric features while educating users about the convenience they can experience by using Paytm every day," said Paytm Senior Vice President, Deepak Abbot.
Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.
Christmas 2018: Rum and Raisin Cake Recipe