Paytm Tap Card: All new way of Offline Payment!
The easiest mode of payment which is in hands of every common man Paytm is developing itself day by day. Paytm is matching its steps with the advanced technology without comprising its user’s convenience. The company has introduced a new feature of Paytm Tap Card which is an offline payment mode which would be supported by NFC (near field communication).
Paytm Tap Card is especially being designed to encounter the poor internet connection situations and areas. The Card uses the NFC to transfer money on company-authorized Point of Sale (PoS) terminals. The Tap card can be loaded with the balance through the Paytm account by scanning the QR code. Later by using the add value machines (AVM), the payment can be completed at the merchandise.
Paytm has shaken their hands with Yeldi.com to showcase their Tap Cards, which is basically a digital payment company whose key areas are into NFC. According to the leaks, the Paytm Tap Card will be available at a cost of INR. 100 per user. This feature is so developed by the company that, even the phone is not mandatory at the time of payment with the user.
The COO of the Paytm Kiran Vasireddy commented that “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. 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”
As per the Inc42, a report by Credit Suisse predicted that India’s digital payments industry, which is currently worth around $200 Billon, is expected to grow five-fold to reach $1 Trillion by 2023. Also as per a report by Google and Boston Consulting Group, the digital payments industry in India is projected to reach $500 Billion by 2020, contributing 15% to India’s GDP.
