- Advertisement -
Home Business Startup VS COVID-19: Paytm records 4 times growth in payments

Startup VS COVID-19: Paytm records 4 times growth in payments

New Delhi: Digital payments firm Paytm has recorded around four-fold jump in payments received by merchants in its new ledger service amid the coronavirus pandemic, a senior company official said on Thursday.

The amount of payments received by merchants recorded in its e-ledger service Business Khata has crossed Rs 1,500 crore in about four months.

“We have seen four-time growth in payments received by merchants in Business Khata between 8 January to 14 March and 15 March to 15 May,” Paytm vice president Sajal Bhatnagar told PTI.

The company launched free digital ledger service Paytm Business Khata for merchants on January 8 which allows the retailer to enter item details, price, and customer’s phone number.

Also Read: Pandemic to inflict Rs 1 lakh cr loss on realty sector in FY21

Through this service, a merchant can set a reminder and send automated notifications (text message) to the customer on the scheduled date for payment using the same link via Paytm wallet, Paytm UPI, cards or net banking.

“Paytm Business Khata has become an essential service for kirana stores as it automates their manual cash collection. It has helped them to significantly improve cash flow and clear their sales outstanding digitally. We are overwhelmed with the growth achieved,” Bhatnagar said.

He said that in about five months time, the business khata app has recorded total payments Rs 1,500 crore made to the merchants.

The company claims that using the ledger service, about 10 lakh merchants have moved digitally and have also learned to set payment due dates for credit transactions and send automated reminders.

Top Picks:

 

Jerry Rolon
Jerry Rolonhttps://etrendystock.com/
After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Must Read

The Ftse extends rally to get closer to 7,500 points, driven by the PMI

The optimism reigns in the variable income market. The european stock exchanges seeking their third session...

Cincinnati and the u.s. Open in New York city, new plan

A new idea arises for the dispute of the U.s. Open this year may be a reality, and this would be for the Cincinnati...

Indium software launches an Ai based text analytics tool – teX.ai

teX-Ai – an Ai based Text Analytics software that offers impeccable text extraction, text classification, and text summarization,  We always had in-house Natural Language Processing...

Economic news: Large Minus in the case of the Lufthansa – economy

In the first quarter of 2020, the travel restrictions in the Corona of a crisis for the poor Figures were mainly. The state helps...

Related News

The Ftse extends rally to get closer to 7,500 points, driven by the PMI

The optimism reigns in the variable income market. The european stock exchanges seeking their third session...

Cincinnati and the u.s. Open in New York city, new plan

A new idea arises for the dispute of the U.s. Open this year may be a reality, and this would be for the Cincinnati...

Indium software launches an Ai based text analytics tool – teX.ai

teX-Ai – an Ai based Text Analytics software that offers impeccable text extraction, text classification, and text summarization,  We always had in-house Natural Language Processing...

Economic news: Large Minus in the case of the Lufthansa – economy

In the first quarter of 2020, the travel restrictions in the Corona of a crisis for the poor Figures were mainly. The state helps...

Global relaxations in focus: Social unrest in the United States not to hold the stock indices

The equity investors in New York have weighted in on Tuesday, the global relaxations in the Corona of a crisis is higher than the...