Indian online payments company Paytm is set to foray into the country’s card payments market with the launch of physical point-of-sale (Pos) terminal business.
The move is expected to expand the company’s business, which currently includes QR-code payments, e-wallets and bank transfers. It also enable all types of digital payments.
Paytm will reportedly introduce standard GPS-based PoS machines as well as mobile terminals at merchant outlets across the country.
A spokesperson from the company said: “We will transform the landscape of PoS payments. Just as we have done in other sectors. Paytm wants to be at the core of all payments irrespective of whether it is by a consumer or a merchant, and whether the consumer pays online or offline.”
Economic Times quoted a Paytm executive as saying: “The idea is to offer users all forms of digital payments. What Paytm is doing through UPI encouraging bank-to-bank transfers, this is something similar where they are entering into all forms of digital payments through PoS.”