Why Paytm in Shops ?

by - January 18, 2019

Current Credit Card Method of swipe.

We all swipe credit cards for shopping.Today  I am going to talk about the merchant side.Even today most of the shops will not accept credit cards.The actual reason is that getting a swiping machine involved cost and lots of documentations.For every swipe bank Charges 1% to 2.5% of the transaction amount.This has to paid either buy the business owner or the customer.Small business owners will not pay the  Charges and directly ask the customer to pay.In some cases business owners are forced to discount the charges to maintain customer service.Later they may force to stop accepting cards.

The Paytm Way.

In Paytm,a merchant required only a phone number & Paytm app.Customer can Just click the pay button and pay the amount from his Paytm account to Merchant Paytm Or Just scan the barcode to pay.

Simple and easy.Later the merchant can transfer  the amount from Paytm to the bank account.

For customers they can transfer the money from credit card to Paytm. Here the good thing is that there is no charges in any stages of transaction  ie.

1.Transferring money from customer credit card to Paytm 
2.Transferring money from customer Paytm  to merchant Paytm.
3. Merchant Paytm to merchant bank account


Nil charges for setting up a Paytm account.

It is easier, fast & cost effective.India is not the first country to introduce such an initiative.China a full fledged country.

Also Read : Best Travel Credit Cards in India

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