E-commerce fin-tech firm Paytm has started to roll out a new app called Paytm for Business along with Paytm Business Khata in India. The company also presented two more payment devices-- All-in-One Android POS device and Paytm Sound Box -- to strengthen its merchant payment offerings in the country. Currently, Paytm is associated with around 16 million merchant partners across India.
Paytm for Business app: Paytm for Business app enables large and small businesses aiming to simplify and digitise payments through tracking and making bulk payments to Bank Accounts, UPI addresses and Paytm Wallet. This helps both B2B and B2C players who make regular payments to vendors, employees' allowances, and rewards or refunds to customers.
Paytm Business Khata: On the other hand, the company's 'Paytm Business Khata', which is integrated into Paytm for Business app, helps set payment date, send automated reminders and get payment notifications on the user's mobile phone. The Paytm Business Khata also downloads reports, track daily sales, and collect payments via UPI or wallet at no extra cost.
Paytm POS device: The All-in-One Android POS is a handheld device which helps merchants make payments from any UPI based app, Paytm Wallet, Rupay Cards and cash. Additionally, this device is also equipped with android technology and has in-built cloud software which makes it get updates and notifications.
Besides accepting payments, the POS device also helps merchants generate GST compliant bills, manage transactions and settlements through Paytm for Business app.
Paytm Sound Box: Paytm Sound Box is a voice-activated POS (point-of-sale) machine and it is not available for free. The POS machine comes with a barcode to make payments using any UPI app. So far, the company hasn't given any information over the pricing of the Paytm Sound Box.