One97 Communications Limited, the owner of digital payment major, Paytm, announced the launch of its offline payments solution the Paytm Tap Card, in line with the company’s vision to provide seamless payments solutions for non-internet customers.
This card uses Near Field Communication (NFC) technology to enable safe and convenient digital payments, completely offline at Paytm-issued NFC PoS terminals in under 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 is a solution that also addresses any network-related concerns at the consumers’ or merchants’ end. In the endeavour to ease out payments, Paytm is partnering with events, educational institutes and corporates in the first phase 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.
“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. For ensuring a wider acceptance, we are also reaching out to the merchants and are actively enabling them with NFC PoS terminals to accept payments without Tap Card. This is a true testimony of our commitment to understanding the needs of our users and creating innovative solutions around it,” said Kiran Vasireddy, COO of Paytm.>