Digital payments firm Paytm brings its users the newly added features to its mobile app to offer a more intuitive user experience while introducing an array of new features ranging from being able to accept up to Rs. 50,000 for merchants and additional security layers for users.
The updated app remains light and loads 3X faster even on low-end smartphones and slow network areas.
Here's a few features launched on the app:
Self-declared merchants can now accept up to Rs. 50,000 directly in their bank accounts- The merchants can now self-declare themselves on the app itself and start accepting up to Rs. 50,000 directly in their bank accounts.
The amount is settled at midnight every day and the settlement charges remain zero percent. As mentioned by Paytm, the bank settlement charges will stay at zero percent when amount would be settled to merchants' Paytm Payments Bank account.
To self-declare, merchants need to tap on 'Accept Payment' in the updated Paytm app, select 'Bank Account', enter bank details and confirm. Wallet balance of a self-declared merchant should not exceed Rs 20,000 post which the amount is settled directly to the merchant's bank account.(Read More)
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