Now it’s way easy to find stores and merchants near your neighborhood who will accept Paytm digital wallet. Government demonetization the Rs 500 and Rs 1000 currency notes have unfortunately affected 86 percent of the total currency flow in the country and solid cash is becoming hard to use. Indians are now turning to digital wallet services like Paytm, FreeCharge, and Udio for their daily transactions.
One of India’s leading digital wallet provider Paytm has come up with ‘Nearby‘ feature in its app. With this users can easily find neighborhood stores, restaurants, cafes, merchants etc who accept Paytm wallet payments.
To use the nearby feature, you may need to update the Paytm app (and Paytm Wallet app) to the latest version. Once updated you will find the nearby icon at the top right corner. Clicking on it will take you to a new page where you can find all the merchants near your area who accept Paytm Wallet payments. Currently, the list has around 200,000 merchants across India, which include the big retail chains like Big Bazaar to Kirana stores and small street vendors.
Paytm users can easily load their wallet with cash using a debit card, credit card or net banking. To pay money, users only need the merchant’s mobile number or email id or the Paytm QR code. Once you have the merchant ID just send the required amount from your wallet to the merchant’s wallet.
“At Paytm, our approach has always been to build an ecosystem that benefits both merchants & customers. I am confident that while our customers will appreciate the increased convenience of finding Paytm services near them, our merchants & partners will value the exponential increase in visibility and new business ‘Nearby’ feature will bring.” said Sonia Dhawan – DGM at Paytm.
Paytm hits 5 million transactions a day
Well after the demonetization the Rs 500 and Rs 1000 currency notes, Paytm user base is soaring high. Over the last coupled of days, company is seeing a 700 percent increase in overall traffic. This is followed by around thousand percent growth in the amount of money added to Paytm Wallet. The company now claims to hit five million transactions a day and now process over Rs 24000 crore.
Earlier another digital wallet provider MobiKwik also launched a feature called ‘Explore Nearby’ in its app. It also allows users to easily discover neighborhood stores, restaurants, cafes, etc that accept MobiKwik wallet payments.