Paytm, India’s leading payments and financial services company, is transforming how millions pay each other and how businesses get paid. Pioneer of the QR Code revolution in India, Paytm has become synonymous with mobile payments with ‘Paytm Karo’ emerging as the codeword for cashless transactions. After QR Code, its other game changing innovation, Paytm Soundbox, has further ensured convenience for millions of merchants with its instant real-time payment alerts.
From roadside tea-sellers and cobblers, Paytm’s popularity is driving financial inclusion across India as more and more people who do not have the time to visit banks are being empowered to use QR code for payments. The tech innovator has truly taken over the imagination of the entire nation.
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Paytm QR Codes and the Soundbox, a gadget that carries the recipient merchant’s QR code and announces payments in the local language, have become household names because of their simple façade hiding a powerful concept.
Merchants even in remote areas, use Paytm’s QR code and Soundbox devices for seamless transactions.Recently, a user on X (earlier known as Twitter) tweeted how Paytm Soundbox, with its local language feature, is changing the life of a simple tea-seller in Bihar. “Fresh tea, boiled in a fresh earthen pot every day. Had with fresh made litti, today. Bakhtiarpur, Bihar. Do you notice 3 brands in this picture? The one most people interact with is in the centre. And now, with a soundbox, it talks in the local language as well… Changing the simple seller & consumer’s life, one transaction at a time… #payTM,” the tweet read.
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Praising Paytm and how it has become a part of everyone’s routine life, management student Amrat Vaar said that he is sure the next edition of Philip Kotler, the marketing guru and professor emeritus, will include it for marketing professionals. “@vijayshekhar ji being mgt student hav studied many brands built in past but this 1 #paytm i hav witnessed as user. Its quite heartening to c Indian brand touching such heights! Its part of routine lif now..M sure next edition of Philip Kotler ging 2 incld dis 4 mktg profesinls!,” he tweeted on X.
Sharing a picture of a cobbler with a Paytm QR Code, Sonu Devi, said that it was Prime Minister Narendra Modi’s foresight that has led to the growth of UPI in India. “In 2017, former Finance Minister Chidambaram Saheb made fun of UPI. UPI has become very important in the country today. This picture is the result of Modi Ji’s far-sighted vision,” the translated tweet from Hindi read.
Fintech giant has also empowered people with its pioneering and innovative products, enabling simple and accessible technology-led solutions to ensure access to mobile payments. The company is ensuring that no one gets left behind in the march towards a cashless future. At the end of August 2023, over 87 lakh merchants were paying subscriptions for Paytm’s iconic payment devices, an increase of 4.9 lakh devices in a month.
