Paytm has teamed up with Axis Bank to offer POS systems and EDC devices (card machines) to the bank and its merchant network. This partnership benefits Axis Bank by bolstering their merchant acquisition portfolio and allowing them to provide cutting-edge payment solutions that further improve operational performance and transaction efficiency.
It expands Paytm’s market reach and shows their dedication to offer cutting-edge technology solutions that satisfy the changing demands of the merchant community.
Sanjeev Moghe, President and Head- Cards and Payments, Axis Bank, said, “We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants, and this is an exciting milestone to build upon.”
The feature set of Paytm’s EDC devices, or card machines, is intended to improve operations and spur company expansion. Complete store administration functions, such as inventory control, CRM, sales tracking and reporting, discounts and promotions, invoice production, and more, are provided by the integrated software. With the help of this point-of-sale technology, merchants can run their operations efficiently and take advantage of seamless payment processing. By means of this collaboration, Paytm’s innovative technology will expand its merchant base through Axis Bank, ultimately augmenting the capacities of both organisations.
According to a statement by Paytm, “Our collaboration with Axis Bank represents a significant milestone in our mission to empower merchants with innovative technology. By integrating our state-of-the-art POS solutions and EDC devices (card machines) with Axis Bank’s expansive merchant network, we are enhancing transaction efficiency and providing comprehensive store management services. This partnership extends our reach and strengthens customer engagement and satisfaction, ultimately supporting merchants in growing their businesses. We are thrilled to offer innovative solutions that meet the evolving needs of the market and continue to revolutionise the digital payment landscape.”
The availability of several EMI alternatives, which improves consumer affordability and enables merchants to provide flexible payment plans to their clients, is an aspect of Paytm’s service. This feature not only helps merchants grow their businesses and improve customer satisfaction, but it also raises sales for them.
