Paytm Plans Big About Introducing Offline Payment Transaction in its app without Internet Connectivity
Paytm one of the most innovative digital wallet Noida based e-commerce firm has recently announced its future plan of making payment transaction without internet connectivity and also planning to provide free Wi-Fi to all internet users, currently it’s under testing mode in Noida sector.
Below listed table describes the stats and facts of Paytm
|S.No||Paytm Stats and Facts||Detailed Information|
|1||Paytm Under Which Category Company functions?||Paytm one among the e-commerce Sites in India and also offers various digital value added services based on payment platform.|
|2||When it is launched and where its headquarters located?||The digital e-commerce Site Paytm launched in 2011 by Vijay Shekhar and its headquarters located in Noida, India|
|3||What’s the Total number of registered Users in Paytm and average transaction carried on paytm payment platform on a day?||According to company’s stats, it is announced as about 122 million users are registered under Paytm services and on average around 2.5 million transactions are held on Paytm services on daily basis|
|4||Average Monthly Orders handled by Paytm||According to the stats released on 14May16, the digital service handler Paytm managed to take around 60 million orders per month.|
|5||Total Numbers of Paytm mobile app downloaded by consumers.||Up to 14May16, it is has been noticed that around 30 million mobile application of Paytm digital app has be consumed by users across the nation.|
|6||Total numbers of funds raised by Paytm||It is reported that about $585 million has be raised by Paytm as per the stars released on 14April16|
Net-Off Payment Transaction
In order to make payment transaction to be done in more real and cashless, paytm working on various solutions among those Net-Off payment is an innovative approach where paytm app able to process the payment transaction without any internet connectivity. In near future, paytm plans to implement this features to its mobile application.
How can be the Net-Off Payment Possible?
The most innovative alteration of regular wallet payments Net-off Payment can be done on basis of OTP or Bar-codes which will be generated within paytm mobile application. As per the instruction provided by the Paytm officials, OTP (One Time Password) & Barcodes will get refreshed for every 60 seconds and both merchant and buyer has the option to choose either OTP mode or Barcode mode for processing their offline payment transaction.
Benefits of using Net-Off payment transaction
Though, it doesn’t changes the regular wallet which works with internet connectivity. This Net-Off payment transaction will be handy during the situation of low or poor net connectivity. And also if a user suffers from internet package completion, this wonder service will be handy to get recharged back.
Future plan of Paytm
As per the information released during the latest press meet by Paytm Officials, paytm has been involved in finding solutions for various situations like processing payment transaction during both merchant and consumer in offline or either one of them in offline. In addition, very soon paytm will implement the new feature of process payment transaction even users or merchant mobile in flight mode.
Below listed table illustrate the hidden and interesting news about Paytm – The digital service provider in India
|S.No||Hidden and Interesting News about Paytm||Detailed Explanation|
|1||What does the PAYTM stands for?||The acronym of the digital service Paytm stands for PAY THROUGH MOBILE|
|2||The Main Objective behind the launch of Paytm||The innovative application Paytm launched by One97–Communication is to sort out the difficulties faced by consumers in bank payments by introducing easy digital cashless money wallet service.|
|3||Who lays foundation for Paytm thoughts and when?||Noida based company ONE97 Communication formatted this unique idea of Paytm in 2010.|
|4||Hidden things about Paytm foundation||The concept of Paytm digital payment service was lightened by Abhishek Rajan one of the employees of One97 communication and it was supported by its head Vijay Shekhar Sharma.|
|5||Who Invested in Paytm?||Indian business Magnate RATAN TATA has invested personally in Paytm|
|6||Awards received by Paytm||In 2012, Paytm was awarded “THE MOST INNOVATIVE STARTUP OF THE YEAR” in an event by franchise of India. And in 2014 it receives APPLE STORE’s BEST APP.|
Launch of Net-Off Payment Transaction
Currently, the process of handling payment transaction in offline mode is almost finished. With more successive results, paytm plans to launch this wonderful innovative idea to its app in late July or in the start of August 2016.
Though, experts may believe that there may be some flaw while implementing offline payment mode. But Paytm experts stay strong on their successful implementation. Very soon, Paytm mobile application users would able to enjoy this value added features offline payment mode.
With its valued added feature of Offline–Payment transaction paytm run by One97 aim to reach the customer base of 500 million by the year 2020. Paytm plans to expand its digital money wallet service in near future which might grab more internet user’s attentions across the nation.