New Delhi: One 97 Communications Pvt Ltd, the parent company of Paytm, has partnered with RBL Bank to provide digital payment solutions to the bank’s merchant partners. The collaboration aims to expand the availability of Paytm’s Soundbox and card machines, enhancing transaction efficiency and digital payment adoption.
Boosting Digital Payments for Businesses
With this partnership, RBL Bank’s merchants will have access to Paytm’s Soundbox and card machines, enabling them to accept multiple payment methods, including UPI, RuPay credit card on UPI, UPI Lite, debit and credit cards, and EMI options. The initiative is expected to improve transaction transparency through the integration of Paytm for the Business dashboard, allowing real-time tracking of payments.
Ripunjai Gaur, Chief Business Officer – Offline Payments at Paytm, said that the initiative aims to simplify payments for merchants by offering advanced and reliable solutions. Narendra Agrawal, Head of Branch Banking & Retail Liabilities at RBL Bank, highlighted that the collaboration aligns with the bank’s objective of enhancing secure and seamless digital transactions for businesses.
Expanding Digital Payment Infrastructure
Paytm continues to strengthen its digital payment infrastructure by offering merchant-focused innovations such as Tap and Pay-enabled NFC Card Soundbox, UPI Lite for small-value transactions, and RuPay Credit Card linking on UPI. The company has been expanding its offline payment ecosystem to support businesses in adapting to digital financial services.
The partnership comes at a time when digital transactions in India are growing rapidly, with increasing adoption among small and medium-sized businesses. By integrating Paytm’s payment solutions, RBL Bank aims to enhance its merchant services and drive the adoption of cashless transactions.
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