Owned by One97 Communications and India’s largest payments platform, Paytm is all set to launch a new service: Paytm Tap Card, India’s first offline payments solution.
This new offering is in sync with the company’s vision to provide innovative and seamless payments solutions for non-internet customers.
Tap Card enables non-internet users to make digital payments. The new service uses Near Field Communication (NFC) technology. The customer has to simply tap the card at a merchant terminal to make the payment, hence enabling a digital mode of transaction even while they are not carrying their phones.
Kiran Vasireddy, COO, Paytm said, “We are aggressively pushing digital payments to users from every walk of life. There are a large number of people who at times do not have access to the Internet or they have a limited daily budget so they shy away from using online payments. For them, we offer the “Paytm Tap Card” to enable seamless offline payments.”
The NFC technology will enable safe and convenient offline digital payments within seconds. To make payments, users can add money from their Paytm account by scanning the QR code on the Tap Card and by authenticating it at any of the add value machines (AVM).
The COO Vasireddy also added, “For ensuring a wider acceptance, we are also reaching out to the merchants and are actively enabling them with NFC PoS terminals to accept payments without Tap Card. This is a true testimony of our commitment to understanding the needs of our users and creating innovative solutions around it.”
To enable quick digital payments using card , Paytm will be partnering with events, educational institutes and corporates in the first phase. The new Tap Card is also a queue-busting solution which will address any kind of network related concerns at the consumer’s or merchant’s end.