Paytm, India’s largest mobile payment and commerce platform has inked strategic partnerships with leading retail chains across the country, including Spencer’s Retail, Heritage Fresh, More, WH Smith, Kendriya Bhandar, V2 Retail, Value Plus, Pai International (Pai Mobile) and various other large retail stores. The move will also help the platform to extend its reach to tier II and tier III cities along with urban areas.
By signing up with these retail chains, Paytm has added a new dimension to its comprehensive universe of cashless payment options. This will ensure that now buyers no longer will need to fish for small change during their weekly shopping trips. The platform also seeks to eliminate various other problems associated with cash transactions. Besides effortless transactions, the Paytm users will get access to a wide range of promotional offers and schemes at listed stores.
Commenting on the partnerships, Sr. Vice President – Paytm, Kiran Vasireddy, said, “We are very excited about our partnership with large format retail chains. With this we enable greater convenience to our user base while giving them more payment options and seamless checkout processes In addition to the user convenience, we are quite confident that we will also bring in more footfalls to our partner stores.
Paytm is already accepted at leading QSRs, namely KFC, Pizza Hut, CCD, Cost Coffee, Barista, Vaango and few others. In the last few months, Paytm has increased its nationwide reach significantly by cementing its presence in both metropolitan cities and non-metro centers such as Salem, Madurai, Coimbatore, Trichy, Faridabad, Patna, Gorakhpur, Varanasi among others.
Headquartered in New Delhi NCR, Paytm is a consumer brand of India’s leading mobile Internet Company One97 Communications. The company’s investors include Ant Financials (AliPay), Alibaba Group, SAIF Partners, Sapphire Venture and Silicon Valley Bank. With current user base of more than 125 million, the platform aims to bring half a billion Indians to main stream of economy using mobile payments, commerce and soon to be launched payment banking services.