Paytm has launched an All-in-one Android POS device for merchant partners and Paytm Business Solutions.
The All-in-One Android POS will help merchants to accept payments through their Paytm Wallet via all UPI based apps, debit & credit cards and cash. Merchant partners will also be able to generate GST compliant bills and manage all transactions and settlements through their 'Paytm for Business' app with ease.
Paytm also announced the launch of two innovative business solutions for SMEs to help them digitize their business processes. All-in-One PG will empower SMEs to collect digital payments across all payment methods without the need of any website or app.
Merchants with an annual turnover of over Rs 50 crore will gain the most from this service, as they are required to comply with recent Government notification to provide the facilities for accepting payment through digital modes.
This device enables startups to collect user payments across all methods on their apps. It drives faster conversions and reduce transaction times while making payments on All-in-One PG.
On the launch, Vijay Shekhar Sharma, Founder & CEO of Paytm said, "Over the past 18 months, we have invested a lot of time in understanding the needs of small businesses around digital payments. Today, we are launching this incredible Paytm All-in-One POS device with a super sleek android form factor with cloud services. This device offers a comprehensive business tool right on the desk of millions of small businesses."
Nandan Nilekani, Co-founder and Chairman, Infosys and founding Chairman UIDAI, in a statement, said, "What Paytm is doing is what we envisioned which is democratizing payments. I think Paytm All-in-One Android POS is a very important device. We do have multiple options and this device brings all together. If small merchants across the country can accept digital payments, that's should be the future."
Paytm Business Payments enables both large and small businesses to track and pay all their payments from one place. With this, the company is aiming to simplify and digitize payments for both B2B and B2C players who make regular payments to a large number of vendors, salaries and food allowance to employees, rewards or instant refunds to their customers and even other expenses like utility bills for multiple offices.