Paytm & Axis Bank Partner for POS Solutions & Card Payment Devices
By Rediff Money Desk, New Delhi Jul 23, 2024 10:48
Paytm and Axis Bank collaborate to offer point-of-sale (POS) solutions and card payment machines to merchants, enhancing transaction efficiency and store management capabilities.

New Delhi, Jul 23 (PTI) Fintech firm One 97 Communications, which owns the brand Paytm, has partnered with Axis Bank to provide point of sales solutions and card payment machines to banks and its merchant network, the company said on Tuesday.
Paytm's EDC devices (card machines) come equipped with an integrated software that offers complete store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting, CRM, etc, the company said in a regulatory filing.
"By integrating our POS solutions and EDC devices (card machines) with Axis Bank's expansive merchant network, we are enhancing transaction efficiency and providing comprehensive store management services. This partnership extends our reach and strengthens customer engagement and satisfaction, ultimately supporting merchants in growing their businesses," Paytm spokesperson said.
Through this partnership, Paytm expects its technology to reach a wider merchant base via Axis Bank, thereby enhancing the capabilities of both entities.
For Axis Bank, this collaboration strengthens their merchant acquiring portfolio, enabling them to offer payment solutions, the filing said.
"We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants and this is an exciting milestone to build upon," Sanjeev Moghe, President & Head, Cards & Payments, Axis Bank, said.
Paytm's EDC devices (card machines) come equipped with an integrated software that offers complete store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting, CRM, etc, the company said in a regulatory filing.
"By integrating our POS solutions and EDC devices (card machines) with Axis Bank's expansive merchant network, we are enhancing transaction efficiency and providing comprehensive store management services. This partnership extends our reach and strengthens customer engagement and satisfaction, ultimately supporting merchants in growing their businesses," Paytm spokesperson said.
Through this partnership, Paytm expects its technology to reach a wider merchant base via Axis Bank, thereby enhancing the capabilities of both entities.
For Axis Bank, this collaboration strengthens their merchant acquiring portfolio, enabling them to offer payment solutions, the filing said.
"We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants and this is an exciting milestone to build upon," Sanjeev Moghe, President & Head, Cards & Payments, Axis Bank, said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.30 (+ 2.85)
- 28260978
- Srestha Finvest
- 0.54 (+ 3.85)
- 22638707
- Spright Agro
- 6.16 ( -4.94)
- 17906132
- G G Engineering
- 1.05 (+ 0.96)
- 15835382
- GTL Infrastructure
- 1.66 (+ 8.50)
- 13347729
MORE NEWS
Moen Enters Indian Market with Bathline Acquaviva
US-based kitchen and bathroom fitting brand Moen partners with Bathline Acquaviva Group...

ReNew Net Loss Widens to Rs 387.9 Cr in Q3
ReNew Power reported a wider net loss of Rs 387.9 crore in Q3 FY25, despite a 10% rise...

Burmans' Religare Open Offer Gets Tepid Response
Burmans' Rs 2,116 crore open offer for Religare Enterprises Ltd saw a low response with...