The company is also looking to enrol retailers, mostly kirana stores, as merchants for accepting digital payments and, to encourage users to hold funds in its prepaid account, the company has linked its wallet to the banking system to enable cash withdrawals from it.
Once Paytm is linked to their bank accounts, customers will be able to fund their accounts. As of now, customers fund their accounts through credit cards, debit cards and net banking. But funding accounts using a card involves a transaction cost paid to the card issuer.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now