Paytm Partners with Axis Bank to Offer POS Solutions and EDC Devices to Merchant Network

One 97 Communications Limited (OCL), which owns the brand Paytm, India's leading payments and financial services distribution company and the pioneer of QR and mobile payments, has announced a partnership with Axis Bank, one of India's largest private sector banks to provide POS solutions and EDC devices (card machines) to the Bank & its merchant network. This collaboration is set to transform the merchant acquiring business by harnessing advanced technology to optimize business operations and elevate customer satisfaction.

Paytm's EDC devices (card machines) come equipped with a robust suite of features designed to streamline operations and drive business growth. The integrated software offers complete store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting, CRM, and more. This POS solution ensures that merchants can effectively manage their businesses while enjoying seamless payment processing capabilities.

Through this partnership, Paytm's cutting-edge technology will reach a wider merchant base via Axis Bank, thereby enhancing the capabilities of both entities. For Axis Bank, this collaboration strengthens their merchant acquiring portfolio, enabling them to offer state-of-the-art payment solutions that enhance transaction efficiency and operational effectiveness even further. For Paytm, it extends their market presence and demonstrates their commitment to providing innovative technological solutions that meet the evolving needs of the merchant community.

Sanjeev Moghe, President & Head, Cards & Payments, Axis Bank said, "We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants and this is an exciting milestone to build upon."

Paytm spokesperson stated, "Our collaboration with Axis Bank represents a significant milestone in our mission to empower merchants with innovative technology. By integrating our state-of-the-art POS solutions and EDC devices (card machines) with Axis Bank's expansive merchant network, we are enhancing transaction efficiency and providing comprehensive store management services. This partnership extends our reach and strengthens customer engagement and satisfaction, ultimately supporting merchants in growing their businesses. We are thrilled to offer innovative solutions that meet the evolving needs of the market and continue to revolutionize the digital payment landscape."

A notable feature of Paytm's offering is the provision of multiple EMI options, which enhances consumer affordability and allows merchants to offer flexible payment plans to their customers. This capability not only increases customer satisfaction but also helps merchants to boost their sales and expand their businesses.

Source : Equity Bulls

Keywords

One97Communications Paytm Partnership AxisBank POSSolutions EDCDevices