PaytmThe popular digital payments application in India, has launched a guaranteed cashback offer to celebrate six years of the Digital India mission. The company on Friday said it has set aside Rs 50 crore for cashback on transactions done by merchants and customers through its app.
The company said that now users will get cashback on every transaction done through the Paytm application. Even the customers paying Anand at the shops by scanning paytm qr code, will be eligible for cashback. Last year, the company launched the ‘All-in-One QR’ code, which enabled merchants to accept payments from all UPI based apps. So, with Paytm app, users can scan any QR code of any UPI app and make payment.
Paytm has also unveiled a special initiative for merchants using the digital payment application. Merchants who transact the most through Paytm App will get certificates from Paytm and exciting rewards – Soundboxes and IoT devices. The IPO bound company will train merchants on how to use them on digitization. The company plans to start activities at the grassroots level with traders from 200 districts. Along with the guaranteed cashback, Paytm will also be offering its soundbox at 50% discount to eligible merchants through its business application. The guaranteed cashback will be valid for the next six months.
“India has made significant strides in its Digital India mission, which empowers everyone with technological advancements. This mission is bound to contribute to the growing economy of the country. We are honored to be the driver of digital transformation by redefining digital payments in our country. Paytm’s Guaranteed Cashback offer is to recognize the top merchants who are at the heart of India’s growth and have made Digital India a success,” said Vijay Shekhar Sharma, CEO and Founder, Paytm.
“In the last six years, the Digital India Mission has grown manifold to put India on the global innovation map. We are delighted to have Paytm and Vijay Shekhar Sharma, who have put their faith in this mission and are the true leaders of the Indian entrepreneurial ecosystem. Abhishek Singh, President and CEO, Digital India Mission, said, “Paytm’s guaranteed cashback offer will encourage millions of merchants in India to rely on digital payments and embark on the path of innovation and contribute to the cashless economy.
Paytm has been instrumental in the mission and empowered thousands of customers and merchants with a quick and easy digital payment system post demonetisation. Over the years, Paytm has built a multi-stack payment architecture that includes Paytm Wallet, Debit and Credit Cards, UPI, Net Banking, Paytm Postpaid etc.
One97 Communications, which owns and operates Paytm, is planning to raise Rs 12,000 crore through a fresh issue of shares in an initial public offering (IPO).
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