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Paytm partners with Jana Small Finance Bank for deployment of Card Devices

Posted On : 2022-10-14 10:19:04( TIMEZONE : IST )

Paytm partners with Jana Small Finance Bank for deployment of Card Devices

One97 Communications Limited (OCL) that owns the brand Paytm, India's largest digital payments and financial services company and the pioneer of QR and mobile payments, have announced a partnership with Jana Small Finance Bank to deploy card machines to further drive digitisation among merchants across the country. With this partnership, Paytm and Jana Small Finance Bank will further drive the digital payments revolution in India.

The company's card machines have been an agile solution for seamless payments, providing multilingual support to its merchants partners to accept payments through UPI, credit/debit cards, net banking, international cards, Paytm Postpaid, Paytm Wallet and EMI. The devices also offer instant voice alert and instant settlement, which drives convenience for the merchant partners.

With over 4.5 million devices deployed, Paytm continues to be the market leader in offline payments. Paytm's EDC devices and its All-in-One POS devices have revolutionsed digital payments in India with their flexibility of accepting multiple payment methods, integrated billing and instant settlement. This partnership will enable Jana Small Finance Bank bank to extend Paytm's All-in-one EDC machines to its existing and potential customers, providing a one stop solution for all their digital payment needs.

Bhavesh Gupta, CEO - Lending & Head - Payments, Paytm said, "We have been at the forefront of India's digital revolution with technology-led innovations, empowering millions of Paytm users. Paytm's card machines provide a feature-rich payments solution that has enabled a robust growth of businesses for our merchant partners. This partnership will help expand our reach and deploy card machines across India's small cities and towns."

Ajay Kanwal, MD & CEO, Jana Small Finance Bank Spokesperson said, ""This partnership is in line with our vision to become the leading digitised bank of aspirational India to further financial inclusion in the country. MSME is a key priority for our Bank and we serve their needs in 150 cities. Our offerings are digital and this relationship with Paytm will further enhance our services to our customers."

Paytm's card machines offer a comprehensive payment solution that allow merchants to accept payments with multi-payment architecture. The company has partnerships with leading banks and also provides merchants with a GST compliant billing system. With integrated billing and payments, customised solutions and single reconciliation, Paytm's All-In-One POS device has been a game changer in everyday business of merchants.

Shares of One 97 Communications Limited was last trading in BSE at Rs. 686.25 as compared to the previous close of Rs. 701.05. The total number of shares traded during the day was 65913 in over 4408 trades.

The stock hit an intraday high of Rs. 705.55 and intraday low of 683.70. The net turnover during the day was Rs. 45459133.00.

Source : Equity Bulls


PayTM INE982J01020 Internet DigitalPayment One97Communications Partnership JanaSmallFinanceBank