PayTm is India’s biggest Mobile Payment & Commerce platform has recently launched a new application. Paytm has announced the launch of its App POS (Point of Sale) system on 23rd November, which would allow merchants to accept payments from credit or debit cards. This is going to be a masterstroke by the company. With this new application, merchants will be able to accept payments easily by using their smartphones. Vijay Shankar Sharma, the founder of Paytm said, ” India needs a very innovating mobile POS machine and Paytm has already been accepted by many merchants. By extending our merchant network to all other payment networks, we are enabling digital payments to a very large number of Indian. We are very proud that we are able to contribute to the digitisation of our economy”
How will POS Paytm App will Work? – Suppose, you are going to a local grocery shop to buy few items and the the shopkeeper has a Paytm account. Now, there can be two conditions ; Either you have to pay through your Paytm account (if you have) or you can use the Debit Card/Credit card to make the payment.
Paytm POS App will work
Step 1 – Merchant raises the bill, and customer have to enter his credit/debit card number in merchant’s phone at the time of payment.
Step 2 – The customer will receive an OTP (One Time Password) on his mobile no.
Step 3 – Enter the OTP inside merchant’s Paytm app.
Step 4 – Payment complete.
Big Step toward Cashless Economy :
According to the disclaimer, merchant accepting payments through the new application will take just five minutes to complete . To start accepting payments, Visit Paytm.com/business, enter bank account details, self-declare as a business, and can start accepting payments with immediate effect.
The company said merchants can accept up to Rs. 50,000 a month through the mobile PoS on the basis of a self-declaration without KYC. However, post a full registration on the platform by a Paytm employee, the cap is removed. Paytm will allow merchants to accept all debit cards for no fee till December 31. Credit card fee, however, will be 2% .
PAYTM POS APP Download and Features Review
So here we have checked the biggest telecom company of India has been Launched a POS App for sellers and it’s customers all over india. If you liked this POS APP so don’t wait just download start working by POS APP of PayTm.