On-line fee platform Paytm has introduced a strategic partnership with HDFC Financial institution. With the brand new partnership, the duo seeks to mix their strengths within the banking, lending, and digital funds area and drive digital options for monetary transformation within the nation.
By this partnership, Paytm and HDFC Financial institution will construct complete options throughout fee gateway, PoS (Level of Gross sales) machines and credit score merchandise together with Paytm Postpaid. The Paytm Postpaid is Purchase Now Pay Later (BNPL) answer with simple EMI and flexi pay choices. The primary leg of the partnership will embrace fee gateway and PoS options for service provider companions throughout the nation. It additionally goals to empower the brand new companies and allow them to scale up additional.
Will carry two broad PoS choices
As a part of the partnership, HDFC Financial institution will drive service provider partnerships throughout India. Paytm will supply its present vary of Android PoS units to those retailers. So, whereas HDFC Financial institution would be the fee companion, Paytm would be the distribution and software program companion.
The duo will collectively launch a co-branded PoS product within the retail phase, which Paytm can have the choice to supply to its personal buyer base.
“The fusion of HDFC Financial institution’s community, merchandise and credit score appraisal capabilities and Patym’s technological platform will speed up digital transformation in semi-urban and rural India whereas bringing extra folks into formal banking channels”, mentioned Paytm in a press assertion.