In a major step forward for the platform, PayTM can now be used to settle bills at a large number of retail stores across the country. Prominent retailers like Spencer’s Retail, Heritage Fresh, More, WH Smith, Kendriya Bhandar, V2 Retail, Value Plus, Pai International (Pai Mobile) are among some of the stores that will now offer support for the payment system.
So, now you can forget your actual wallet at home while going to shop for a wide variety of articles ranging from essentials to groceries to electronics. Make your purchases and at checkout, simply whip out you mobile phone and settle the bill by using the PayTM app.
Apart from the comfort of merrily going to shop with nothing but your mobile phone in tow, there are a whole lot of other benefits for consumers as well. For example, no more counting out the money and rechecking it, no more quibbling over the change, and that is of-course in addition to the bunch of exclusive promotional offers PayTM users will be eligible for.
The use of PayTM for transactions at physical stores is nothing new. The platform has always supported the likes of KFC, Pizza Hut, CCD, Cost Coffee, Barista and Vaango. However, not everyone visits these restaurants meaning that the number of footfalls through PayTM was still relatively limited. With its latest move however, PayTM will have access to a wide variety of potential customers who also tend to be rather regular and spend relatively large amounts.
Speaking on the topic, Kiran Vasireddy, Sr. Vice President at PayTM, said
We are very excited about our partnership with large format retail chains. With this we enable greater convenience to our user base while giving them more payment options and seamless checkout processes In addition to the user convenience, we are quite confident that we will also bring in more footfalls to our Partner stores.
While we are not certain if the number of customers hitting the stores will show a significant change just because another medium of payment has been added, PayTM’s scope of usage is almost certain to increase.
The company has been doubling down upon its schemes recently. We have had talk of bifurcation, payment banks and now availability of this all new feature, all within matter of months. Perhaps PayTM is looking to make the most out of the upcoming festive season or maybe its the Amazon-Alibaba clash everyones been talking about recently.
After all, with Alibaba owning almost 40 percent of its stakes, the outcome of such a clash will significantly depend upon PayTM’s performance in the coming times. Meanwhile, its latest move is certain to have given it an edge over mobiqwik and other competition, although I wouldn’t count on them staying away from retail for too long.