Paytm to dole out incentives for merchants at kirana stores

first_imgNew Delhi: In a move to make deeper inroads in the country, digital payments company Paytm on Thursday announced to push cashback from peer-to-peer UPI transactions to offline merchant payments at retail kirana stores. The company is targeting to partner with over 20 million retail kirana stores, enabling them to accept all digital payment modes including UPI, wallet and cards. “Paytm will invest money in offline merchant expansion instead of driving incentive led P2P transactions. Our offline merchants create high-frequency usage and an important use-case for Paytm consumers,” said Deepak Abbot, Senior Vice President, Paytm. Also Read – Maruti cuts production for 8th straight month in Sep UPI P2P payments are often done by users to gain some extra money. On Paytm, the UPI users are already the ones who have been using a large host of Paytm services for long and don’t require cashbacks to make payments. “To further help merchants get better access to capital and provide more financial security Paytm will invest on lending and insurance, rather than on P2P payments,” the company said in a statement. Through its payment ecosystem, Paytm has already created a network effect with over 5 billion transactions in 2018-19. It also claims to have 12 million merchant partners accepting payments through Paytm QR, which accepts all digital payment instruments such as UPI, wallets, cards and netbanking.last_img read more


Over 1600 refugees returned

Officials in the UN refugee agency said that many factors including medical and education facilities were found to be reasons behind the declining number of Sri Lankan nationals return to their native country. “Some of them postpone their applications saying that they don’t want to discontinue medical treatments and education here. But so far nobody had complained to us about ‘safety’ as reason for not returning to their country,” an official said. With monetary aid from the United Nations High Commissioner for Refugees (UNHCR), more than 1,600 Sri Lankan Tamils living in Tamil Nadu as refugees have returned to their country so far since January 2012.According to the New Indian Express, officials of the UNHCR, who have their field office in the city, said that about 1,264 Sri Lankan Tamils, who were living in special camps across the State, had returned through voluntary repatriation to their country between January and December 2012. This year, about 350 refugees have returned so far. In Chennai there are two open refugees’ camps – in Gummidipoondi and Puzhal. About 1,670 refugees returned to their country in 2011 which was comparatively lesser than 2,040 persons in 2010 after the end of war in 2009. The UNHCR also conducts checks for the safety of the refugee back in his country. “Once a person expresses his willingness to return and applies to us, we check if the place they want to settle is safe. We also do random monitoring of these people after they return. But if they face any trouble upon their return, they get back to us,” an official explained.There are over 60,000 refugees from the island nation living in refugee camps in Tamil Nadu which constitutes about 36 per cent of total number of refugees in the country. read more