Digital payment platform Paytm has brought a big update in the past for business apps for merchants. Due to this, now businessmen will be able to use their Android phone only to take payment by debit or credit card, ie the mobile phone is now going to act as a Point of Sale (POS), and there will be no need to have a separate machine. According to the guidelines of the Reserve Bank of India (RBI), this will enable businessmen to transact up to five thousand rupees.
For which merchants will have to download and activate the Paytm for Business app on their Android phones. However, for this Android phones must have Near Field Communication or NFC. An acceptance card payment option will also be introduced in this app, which will allow merchants to verify their trade details and pay the setup fee to activate the service. This facility is also being liked by the businessmen, because now they will not need to keep machines everywhere, they can also be promoted with this contactless payment system.
This is how it will work: It means to say that you can buy something from a shop. Until now, you had to scan the QR card to pay for it or swap the card on the POS machine where it is not. But after this feature, all the merchants who have taken this facility will automatically get debited from Wi-Fi as soon as they touch their card on their mobile. Due to which there is no need to enter your PIN nor will the risk of getting your card's personal information to be eliminated.
Paytm says that Paytm for Business App is in 11 Indian languages with Accept Card payment option. 1.2 billion rupees are being paid every month from the same Paytm. There are more than 328 million active Paytm wallets across the country, more than 145 million UPI handles are active on the Paytm platform and 64 million bank accounts are associated with the payment platform.
Also Read:
Aarogya App Starts COVID-19 Vaccination Regn, How to register
Oppo F19 Pro available at low price, know its special features