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Currency Crisis: Paytm Eyes State Buses; Wants to Convert Kirana Shops to Add Cash Points

Debashis Sarkar | @SarkDeb

Updated: November 30, 2016, 4:05 PM IST
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Currency Crisis: Paytm Eyes State Buses; Wants to Convert Kirana Shops to Add Cash Points
Representative image.

Leading mobile payment platform, Paytm is working with more state transport corporations to enable cashless transactions in buses. The company had recently announced wallet support at inter-city bus counters of Uttarakhand and Rajasthan. Going forward, Paytm wants to increase its reach in the unreserved bus ticketing sector.

“For us, the goal has always been where ever cash is accepted, Paytm should be accepted. We are already present for cabs, metros, auto and now we are coming in buses as well. We are looking at the unreserved ticketing sector in a big way,” said Paytm Senior Vice President Nitin Misra in an interaction with News18 Tech.

Paytm is also looking at bringing more “Add Cash” where users can simply deposit cash in accepted denominations to recharge their Paytm wallets.

The company also recently introduced a new feature called ‘Nearby’ to help users with information about their nearest Paytm merchant. Users can also avail the new ‘Add Cash’ feature through which they can the nearest points such as ICICI and Axis bank branches where they can get cash loaded in their Paytm wallet.

“We are in the process of rolling out independent cash points like at local kirana shops. Instead of making users visit bank branches to add money to Paytm wallet, we are also looking at offline merchants that accept Paytm and help in the KYC process. We are also in the process of converting these merchants into add cash points,” added Misra.

First Published: November 30, 2016, 4:03 PM IST
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