Paytm, the fastest growing digital payments platform in India, announced a toll-free number to enable consumers and merchants with no internet connection to pay and receive money instantly and recharge their mobile phones too.
Merchants and customers will need to register their mobile number with Paytm and set a four digit Paytm PIN, said the company in a statement.
“They (users) can then enter the recipient’s mobile number, amount and their Paytm PIN to successfully transfer the money from their Paytm wallet to another Paytm wallet,” said the statement.
Nitin Misra, senior vice president, Paytm said, “We are committed to enabling more and more Indians to transact digitally. The launch of our new toll free payment number (180018001234), is another significant step in that direction. This will allow even non-smartphone users across India to go cashless.”
Currently, Paytm is being accepted across the nation by over a million offline merchants as their preferred payment mode, the company claimed.
The company has a current user base of over 160 million.
Ant Financials (Alipay), SAIF Partners, Alibaba Group, Mediatek, Sapphire Venture, and Silicon Valley Bank are the company’s investors.
Since the mandate of demonetization has come, Paytm’s user base has increased remarkably. Looking at the bigger picture, Paytm’s this move will add more users.