Paytm on Monday announced the launch of the Paytm for Business app for Android. It offers registered merchants and business partners the ability to track payments, navigate through past transactions, and track settlements through a mobile app. Merchant partners can also print out their QR code directly from the app. The app is available in 10 regional languages.
As we mentioned, Paytm has rolled out the Paytm for Business app on the Google Play Store. This app has a simple interface that allows merchants to view their transactions before the confirmation SMS or email is received. With options like daily, weekly, and monthly statements, Paytm business partners can get access to information such as UTR numbers of daily bank settlements, bank settlement duration, and more.
Paytm for Business app also allows merchants to raise support tickets, check status of existing tickets, browse through common FAQs, and get priority access to Merchant Helpdesk.
All Paytm business partners are entitled to 0 percent commission when transferring funds to bank. The app also offers cashless KYC onboarding. Additionally, all partners can accept payments through QR code via payment methods such as Paytm, UPI, credit card, and debit card. While there is an initial monthly payment receiving limit of Rs. 50,000, it can be further increased on a custom request.
Speaking on the launch of the app, Kiran Vasireddy, COO – Paytm said, "Our 'Paytm for Business' app 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 them the peace of mind that comes with having a dependable one-stop solution."
Paytm recently announced the rollout of Paytm Cash, which is slightly different from the existing system. With Paytm Cash, future cashback amounts will be usable only on the Paytm app for actions like shopping, cabs, flight bookings, and much more. The cashback earned from purchases will apparently not be available for bank transfer.
Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.