This decision of Paytm will benefit 1.7 crore shopkeepers and merchants.
Paytm has now abolished the Merchant Transaction Charges for shoppers and small businessmen through Paytm wallet, UPI and RuPay cards. The company had already given information about this, which has now been implemented.
Indeed, during the corona virus epidemic and lockdown, micro, small and medium scale industries (MSMEs) were finding merchant transaction rates expensive. In view of this, Paytm will bear an expenditure of Rs 600 crore in annual merchant discount rate by banks and other charges. Let me tell you that some time ago, Paytm had announced no charge of any kind on merchant transactions. It has also been implemented now.
Nearly twenty five million shopkeepers and traders will benefit
Paytm has informed that about 1.7 crore shopkeepers and small traders will be directly benefited from this decision. They now use Paytm All-in-One QR, Paytm Soundbox and Paytm All-in-One Android POS to receive payments from their customers. Let us know that Paytm is one of the largest payment gateways and solutions companies in the country. The company has a large number of customers.Also read: LPG Cylinder can be available without Aadhar Card, subsidy will have to be done
Shopkeepers can also take payment directly into bank account
Paytm Senior Vice President Kumar Aditya said that we believe that all MSMEs will benefit from waiving these charges. This step will also encourage merchants to make digital payments. This will also strengthen the Digital India Mission. Merchants will also have the option to choose whether they want to receive payment directly in their bank account or Paytm wallet. The company is promoting payment acceptance in all other ways including Paytm Wallet, UPI, RuPay, NEFT and RTGS.