Digital payments have transformed the business for every merchant be it large or small in every nook and corner of the country. The pioneer of mobile payments, Paytm has been at the forefront of this digital revolution. This transformation can be seen in Chennai where vendors across the city trust the fintech giant to make their businesses digital.
Paytm’s innovations, QR Code and Soundbox, have seen a widespread adoption in Chennai. When a Paytm spokesperson had an interaction with some of the vendors there on experience using Paytm payment solutions, they all had one common review which is ‘the payment is quick and cash settlement is immediate in the account’.
Paytm QR code and Soundbox with every street vendor in Chennai is a testament of their trust in the company, which is a leading player in mobile payments and financial services in India. The consumer base of Paytm has also been expanding consistently every month as an average monthly transacting users (MTU) rose to over 9.2 crore at the end of June quarter.
While Paytm QR code is the popularly used payment solution in the state, the fintech giant’s revolutionary payment device Soundbox is also gaining strong acceptance among merchants. Another fact that merchants in Chennai find it easy to use Paytm Soundbox is because the device supports Tamil. The multilingual IoT device supports 11 languages including English, Hindi, Tamil, Telugu, Kannada, Marathi, Malayalam, Bengali, Gujarati, Punjabi, and Odia. So far the number of merchants paying subscription to the company for adopting payment devices like Soundbox, card machines have reached 79 lakh.
When a Paytm spokesperson interacted with a consumer on the street scanning a Paytm QR code for payment he said, “Paytm is very helpful for me. I usually don’t carry my wallet or cash outside, so Paytm helps. It is very easy to do mobile recharges, pay electricity bills and other features are very helpful. I am very glad that Paytm is doing a good job. As India says ‘Paytm Karo’.”