Paytm Introduces New Digital Payment Feature, Here’s Everything You Need To Know

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Paytm can also be called as the first E-wallet which introduced digital payment in India and ever since 2010, it has been the biggest competitor for the other E- payment wallet present in India. Paytm app has set up a benchmark for the other digital payment apps that are trying their best to flourish in the Indian market.

But now Paytm app is making headlines and the news is all over the internet because Paytm has recently launched a new simplified feature for the users of the Paytm app. The Vijay Shekhar owned company has now unified Bank Transfers for its customers with new “My Payment” feature. Paytm is now offering the users to make recurring and high-value payment in an instant.

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The main feature that attracts the customers towards this application is the easy money transfer. Money transfer is possible between two Paytm users and the money transfer can take place between two different banks with zero percent charge. The Non- KYC customer can also take the benefit of this facility.

The Senior Vice President of Paytm, Deepak Abbot commented on the new feature by saying that the customers of Paytm Application use it for various purposes such as regular payment of house rent or many small payments related to the household works. This has increased the use of the Paytm app and the cashback scheme also attracts the customers.

But now, the new feature launched by Paytm might attract even more customers to download the E-wallet app as the citizens of India to a great extent are trying to go cashless and Deepak Abbot promised that the Paytm app will continue introducing customer-centric features in the future.

 

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With the introduction of the new feature, the company is very confident that it will increase the number of transactions all around India and the company has an aim to process Rs. 60,000 Crore in monthly Bank Transfers alone by the end of the year 2018.

The company has now started promoting the application and educating the users who feel afraid to opt for E-payment services. They are asking the customers to link their bank accounts and the features present in the application will help the Paytm users to experience instant and secure Bank Transfers. The Paytm app can be used for payment such as house rent, fee, salaries etc.

The company is now planning to invest a large amount of Rs. 5000 Crore in the business which is expected to increase their transactions from one billion to two billion in 2018 itself.

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