After WhatsApp Business, "Paytm for Business" app launched on Android
Paytm has unveiled its own standalone business-oriented app for Android (for now) on the Google Play Store.
The app is available in ten regional languages; it helps small and medium businesses to accept digital payments.
Paytm introduces a standalone app for businesses
Track payments and settlements, view past transactions on the app
"Paytm for Business" app allows merchants to track payments in real-time, get transaction history, view settlements and collections, and refund their customers.
They can also print out their Paytm QR code directly from the app; it can be put up in their stores for accepting payments.
In a blog post, Paytm said its app would address "the unique needs of the country's merchants".
What can merchants do with the app?
Through Paytm for Business, merchants can get transaction details even before they receive a confirmation SMS/email.
Businesses can get their daily/weekly/monthly statements and access information like UTR numbers of bank settlements, settlement duration, etc.
In case of issues, merchants can get help on the app itself. They can raise support tickets, check their status, view FAQs, and get access to Paytm's dedicated Merchant Helpdesk.
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Paytm COO Kiran Vasireddy on app's launch
Kiran Vasireddy said: "Paytm for Business is another step towards simplifying payments for the country's vast & diverse business partner community. It will make managing day-to-day business operations simpler for our partner merchants & offer...peace of mind that comes with having a dependable one-stop solution."
Transfer money to bank at 0% commission
According to Paytm, registered merchants and business partners can transfer money through its business app instantly for zero charges. This means they can transfer funds to banks at 0% commission.
The app offers cashless KYC on-boarding. Merchants can accept payments through Paytm, QR code, credit/debit card, and UPI.
There's a monthly payment receiving limit of Rs. 50,000 which can be increased after request.
Other features announced by Paytm
While the latest business app is for merchants, for its customers, Paytm recently launched services like BHIM UPI payments option on the app, Paytm Inbox (in-app messaging feature), digital and physical Paytm Payments Bank debit cards, and Paytm Cash (non-transferable cashback) among others.