Paytm Introduces Offline Payments Solution
Paytm announced the launch of its offline payments solution known as Paytm Tap Card, according to a report published on April 28, 2018.
This announcement about the launch of offline payment solution was made by One97 Communications Limited, the owner of digital payment major, Paytm. This method of payment is being launched with the vision to provide seamless payments solutions for customers who do not have access to internet.
Near Field Communication (NFC) technology is used by the card to enable safe and convenient digital payments, completely offline at Paytm-issued NFC PoS terminals within a second. To make payments, users can add money from their Paytm account by scanning the QR code on the Tap Card and by authenticating it at any of the add value machines (AVM).
Paytm Tap Card will also be able to address any network-related problems that are faced by consumers or merchants. Paytm is partnering with events, educational institutes, and corporates in to enable quick digital payments using this card. The customer has to simply tap the card at a merchant terminal to pay, offering them a mode of payment through Paytm even while they are not carrying their phones.
Kiran Vasireddy, COO of Paytm said, “We are aggressively pushing digital payments to users from every walk of life. There are a large number of people who at times do not have access to the Internet or they have a limited daily budget so they shy away from using online payments. For them, we offer the Paytm Tap Card to enable seamless offline payments.” A wider acceptance is ensured with the help of NFC PoS terminals, which accept payments without Tap Card.
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