Digital
Payments are changing the way we transact on daily basis – mobile wallets, Paytm in particular, are leading this charge. Now
Paytm wallets will be accepted even at Petrol pumps!
Earlier today,
Vijay Shekhar Sharma, Founder and CEO of Paytm announced on his Facebook timeline, that going forward, customers can pay for fuel using Paytm at Indian Oil
Petrol Pumps.
“From
today pay using Paytm on Indian Oil petrol pumps. Installing them one at a
time. #PaytmKaro!”
Sharma wrote on Facebook.
This
continues the path for mobile wallets to become a viable alternative to debit
cards - services like Paytm, and competitors like MobiKwik and FreeCharge, are
widely accepted online, and have been making an offline push as well. For
example, Paytm is working on a payment token for the Delhi Metro, and a QR code
based cashless payment system for small merchants.
We have
said this earlier, very soon we may see mobile wallets replacing your physical
wallets, and this is a prime example of how fast that scenario is coming to
reality!
Paytm
claims to have over 120 million registered users and more than 2.5 million
transactions daily, on average. Now, with acceptance of Paytm wallet at Petrol
pumps, the number of transactions are expected to grow at much faster pace.
At the
same time, the company has also announced a virtual prepaid card with ICICI
bank - physical cards issued to customers that can be used at any merchants
that accept card-based payments, offline or online, at outlets that accept
Visa, MasterCard, or RuPay. As part of the offline-online connection, Paytm
wallet users can also add money to their wallets through ICICI's branches, even
if they are not ICICI customers.
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