Mobile commerce company Paytm has partnered with various educational institutions, QSR’s & casual dining restaurants in the country to introduce cashless payments.
Under this move users will be able to pay school fees and dues, buy uniforms, books and merchandise at the selected educational institutions through Paytm Wallet.
Also, as a part of the association customers will be able to pay at Pizza Hut, Costa Coffee and Vaango through the wallet. With this, Paytm has made an additional headway in adopting digital wallet for payments at brick and mortar stores in the country.
Paytm has tied up with institutions like IIT-Mandi, Universal Education Trust, KN Modi University, Vidyamandir Classes, Made Easy, Career Launcher, Delhi Public School and more.
According to Vijay Shekhar Sharma, founder and CEO at Paytm, school fees and educational expenses form a significant part of an Indian consumer’s regular spend. Moreover, the idea to introduce cashless payment is to prevent theft or misplacement of cash.
Paytm also plans to offer various online courses on the platform in future.He added that the company aims to grow this platform multifold in the next six months.
Meanwhile, the company is in advanced discussions with leading IITs, IIMs, central and state universities.
Alibaba-backed Paytm has more than 20,000 merchants who accept payments through Paytm Wallet. Some of the key merchants where the Paytm Wallet is accepted include Uber, IRCTC, Zomato, FoodPanda, TaxiForSure, Makemytrip and more.
Recently, Paytm received license from RBI to set up a payments bank to drive financial inclusion for the unbanked segment and modernize payment systems. The RBI approved secure mobile wallet clocks over 75 Mn orders per month.
Besides, another ecommerce marketplace player, Snapdeal sells elearning services after it partnered with brands like Edukart, Pearson Think-Tank Plus, Topper and iProf last year.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
