In this current crisis of even as such for a short period of living with limited cash, hopefully for a better future as it was decided by the Prime Minister of India Narendra Modi, who redefined the scenario by introducing Rs 2000 notes as against the older Rs 1000 and Rs 500 notes that he discarded on reasons of corruption and pushing away black money.
Recently PM Narendra Modi appealed from Japan that the problems faced by Japanese people in 2011 similar as such to what the whole of India is currently facing as Companies operating digital wallets and other forms of electronic currencies have on a wide scale witnessed increased interest from the users. Further, PM Modi suggested that Indians need patience over all and should wait until the change will drive India towards new heights.
Meanwhile, let us know Paytm an Indian e-commerce website headquartered in Noida, India. It was launched in 2010 and added to the industry of FinTech in India. Paytm is owned by One97 Communications. The Company started by offering mobile recharging, additionally with bill payment and e-commerce options along with products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, then on Paytm further added booking bus travel as well as Paytm also launched movie ticket booking by partnering with Cinépolis in the year 2016.
Here, comes this 2010 launched company Paytm coming into play a key role along with MobiKwik and FreeCharge, on wallet on delivery like features seeing through an uptick in various metrics.
Let us take a dig at the following three directions, which might be impressive or else at least helpful to discus:
- PM Modi announced the ban on Rs. 500, Rs. 1,000 currency notes
- Paytm has launched a new feature to find nearby Paytm outlet
- There are around 8 lakh Paytm accepting merchants
Ever wonder, what is troubling the people of India by queuing near every bank in India as PM Modi announced the ban over Rs 500 and Rs 1000 currency notes?
However, the trendsetting, Paytm on Friday announced a new ‘Nearby’ feature that will make it easier to discover merchants that accept the wallet as well as will help customers who are short of cash in the current critical situation brought as a crisis to Indians by the present Narendra Modi’s government but Paytm can be used to easily discover merchants that accept Paytm. Paytm ‘Nearby’ will carry a directory of over 8 lakh Paytm’s offline merchants and partners across India, the company said in an emailed statement, with over 2 lakh merchants included in the first period.
The company says customers on their Paytm app or the Paytm website can now browse through a list of shops and locations near them that offer services like accepting Paytm, adding cash to Paytm wallet, and upgrading accounts by doing KYC (Know Your Customer).
At the time of filing this stature, the option wasn’t visible on the website or the latest versions of the iOS and Android apps. Additionally, the explanation by Sonia Dhawan – DGM, Paytm, as it was said over the impact of Paytm on current crisis of currency in Indian markets was revealed by these words: “At Paytm, the approach has always been to build an ecosystem that benefits both merchants and customers such that the customers will appreciate the increased convenience of finding Paytm services near them, the merchants and partners of Paytm values the exponential increase in visibility and new business through nearby feature expected to come into play an important role over this”. This is, however, a great example of how mobile technology can drive businesses across the retail industry by redefining the hyper-local space.” Hence, it is pleasing to know that Paytm launched ‘Nearby’ to help discover Paytm ready merchants in your area.