The recent demonetization of high denomination notes is creating many problems for the people. They are running low on cash and managing households have become very tough. However, this situation is good for many electronic wallets. E-wallets like Paytm, Mobikwik and FreeCharge have witnessed a sudden upsurge in their usage. Now, Paytm has also launched a Nearby feature. Let us find out more about Paytm Nearby feature.
More about Paytm Nearby Feature
Paytm Nearby feature is a new addition to the app which enhances your ability to make transactions without hard cash. It eliminates the need of physical currency by allowing you to directly send the payment to the seller’s account.
Paytm Nearby feature makes it much more easier. What this feature does is that it shows you all the stores and sellers in the vicinity that accept Paytm as a mode of payment. It is a smart and innovative move because it helps the people in this hard time and at the same time promotes the usage of Paytm.
The company said, “This not only provides convenience to customers but also provides visibility to thousands of small and medium merchants by connecting them to millions of Paytm customers.”
The company said that the Paytm directory will feature around 8 lakh merchants and they have already listed 2 lakh merchants initially. These merchants can also carry out a KYC verification in case the customers want to add Rs.5000 or more to their Paytm wallet.
Talking about the Paytm Nearby feature launch, Sonia Dhawan (DGM, Paytm) said, “At Paytm, our approach has always been to build an ecosystem that benefits both merchants & customers. I am confident that while our customers will appreciate the increased convenience of finding Paytm services near them, our merchants & partners will value the exponential increase in visibility and new business ‘Nearby’ feature will bring. This is a great example of how mobile technology can drive business across the retail industry by redefining the hyperlocal space.” Stay tuned for more updates.
