Paytm Teams Up With Axis Bank To Fuel Merchant Payment Solutions

SUMMARY

Paytm and Axis Bank partner to provide POS solutions and EDC devices to merchants.

Partnership aims to improve transaction efficiency and merchant operations.

Paytm's technology to expand through Axis Bank's merchant network.

Paytm’s parent entity One 97 Communications Limited has joined hands with Axis Bank to offer point of sale solutions and card payment machines to its merchant network.

This move will help Paytm technology to expand its reach via Axis Bank, ramping up capabilities for both the entities. Furthermore, the partnership will help Axis Bank to scale up its merchant acquiring portfolio, according to a statement.

For the uninitiated, Paytm’s EDC devices (card machines), offers store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting and CRM, among others.

Sanjeev Moghe, president and head of cards & payments at Axis Bank, said, “This partnership extends our business offerings to more merchants.”

“With our partnership we’re improving transaction efficiency and providing store management services,” a Paytm spokesperson said.

(The story will be updated soon)