Paytm launches new loyalty programme to empower millions of small businesses

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Paytm is working on various programmes by which the brand can help various businesses. Paytm has set aside Rs 100 crore to provide financial services and marketing tools, and encourage Kirana stores to use digital payments during the lockdown. The new loyalty programme will help all small and medium scale businesses.

Saurabh Sharma, Senior Vice President of Paytm, said in a statement: “This new loyalty programme aims at the digital transformation of millions of Kirana stores and small businesses across the country in the post-COVID-19 world. We aim to ensure that accepting digital payments is a rewarding experience for the Kirana stores.

The banks charge us a fee to load the wallet and we will be returning this one per cent MDR by doubling the benefits for their business, which includes various financial and business services that they use on our platform. So, in all, it is more beneficial for the merchants to accept Paytm all-in-One QR, which comes with additional benefits,” Sharma said.

Points collected by the Kirana store merchants can be redeemed for a voucher instantly. It can also be used for purchasing merchandise from the Paytm for a Business app like sound-box, EDC, etc. several reward points depend directly on the number of transactions done through the Paytm all-in-one QR. The company has set no limit on the number of reward points that can be earned by a merchant.

In a press statement, the company said that it has “set aside Rs 100 crores, which would be invested in giving access to financial services and various marketing tools to encourage Kirana stores to accelerate the growth of digital payments through Paytm All-in-One QR during the COVID-19 pandemics.”

As part of this new loyalty programme, all merchant partners will be eligible to earn reward points for accepting payments from Paytm Wallet, Rupay Cards, and all UPI-based payment apps. The collected points can be redeemed for a voucher instantly or for purchasing exciting merchandise from the Paytm for Business apps, such as sound-box and EDC.

Over the last few weeks, Paytm Mall has been investing in scaling its hyperlocal operations and is offering delivery of grocery and essentials in more than 100 cities across the country and plans to further scale it in the next few weeks.