Leading fintech platform Paytm has earmarked Rs 50 crore for rolling out a cashback program for consumers and merchants to celebrate six years of Digital India, the company said in a statement.
The program will be rolled out in 200 districts across the country with special drives in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh and Telangana, Paytm said.
Under the offer, the digital payments firm has announced cashbacks for merchants and consumers in India, for every transaction made through the Paytm app.
Paytm said that the merchants across the country have played a pivotal role in this by accepting a wide range of digital payment methods and being a part of the Paytm community.
“The company is committing Rs 50 crore for the program this year which will uplift over 2 crore merchants who use Paytm in their day-to-day life,” the statement said.
It added that merchants with the most number of transactions made through the Paytm app before Diwali, would be rewarded with certificates for being the top merchants and will also receive free Soundbox, IoT devices and many such rewards.
Customers, who scan the Paytm QR code at the stores to pay through the Paytm app, will receive cashback on each transaction.
“Paytm’s Guaranteed Cashback offer is to recognise the top merchants, who are at the heart of India’s growth and have made Digital India a success,” Paytm founder and CEO Vijay Shekhar Sharma said.