Payment platforms bring in new application for businessmen

With digitization taking place in nearly every aspect in a man’s life, this new application may not seem that big a news.

Digital payments platform Paytm has unveiled an application called ‘Paytm for Business’ to enable small and medium businesses to accept digital payments.

The application, available on Android Play Store, would enable merchants to sign up quickly and get a Paytm QR code to start accepting digital payments, the company said.

“The ‘Paytm for Business’ app will make managing day-to-day business operations simpler for our partner merchants,” said Kiran Vasireddy, COO, Paytm.

READ ALSO: Mistakes Gmail users make; are you one of them?

“All needs, ranging from seamless acceptance of various payment modes to day-wise settlement summary, have been taken care of,” he said.

The move follows recent announcement by instant messaging service WhatsApp to introduce a separate app that small businesses can use to connect with their customers.

The application, available in 10 regional languages, would allow merchants to track payments, navigate past collections and trace settlements made to their bank accounts.

They can also generate a Paytm QR instantly through the app, print it and start using it at their shops to accept unlimited payments directly into their bank accounts at 0% charge.