Digital Payment Service Provider Company (PayTM) will spend 250 crores this year on the expansion of its PayTM QR service. The company said on Wednesday that it would send its services to cities of 4th and 5th grade. The company said in a statement that this investment is expected to reach more than two crore shoppers / merchants across the country by the end of this financial year.
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PayTM has introduced a QR code based payment service for shopkeepers. Through this he can get the payment directly into his bank account. The company’s senior vice president Deepak Abbott said that 1.2 million shopkeepers are accepting payments through PayTM QR in the country. Most of them are shopkeepers in big cities. The company’s plan is to reach out to the shopkeepers of small towns like Ajmer, Bekgaon, Karnool, Rohtak and Latur all over the country.
PayTM mother company One97 Communications said in a separate statement that its full-time subsidiary, PayTM Money, was awarded the Pension Fund Regulatory and Development Authority (PFRDA) for offering ‘National Pension System-NPS’ on its platform. Permission has been received from Now investors registered at PayTM Money will be able to invest in NPS.
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Source : Zeenews