Paytm on Tuesday said it will let merchants use smartphones to accept near field communication (NFC)-based debit and credit card payments through its ‘Paytm Smart POS’ for Android phones.
Highly Convenient
Support Mastercard, Visa and Rupay
The service will work with all contactless credit and debit cards that run on the Mastercard, Visa and RuPay platforms.
Transaction Limit
The amount limit on a single transaction is set to 5,000 Indian rupees, or about $69. (More than 90% of transactions in India carry a value equal to or smaller than $69, industry estimates say.)
How to use?
The merchants need to download and activate the Paytm For Business app on their Android phone.
In the app, there will be an Accept Card Payment option, which will allow merchants to verify their business details and pay a setup fee for the service to get activated.
Company’s Performance
Paytm claims top spot in India’s mobile payments market with 1.2 billion monthly transactions.
There are more than 328 million active Paytm wallet and more than 145 million UPI handles active on the Paytm platform.
Press the 🔔 Icon for notifications of all new updates
