Paytm to invest Rs 600 cr in QR code-based payment network
Online payments platform Paytm today announced plans to invest Rs 600 crore in its QR code-based payment solution to enable digital payments for merchants across India. "Our zero per cent merchant transaction fee coupled with an aggressive merchant acquisition rate, will help us take QR code based payments to every nook and corner of country," Kiran Vasireddy, Senior Vice President, Paytm, said in a statement. Within a year of the launch of its QR code-based offline payments, it already contributes around 65 per cent of overall transactions on its platform, the company said. The company clocked Rs 5,000 crore worth of transactions in the month of January, 11 per cent up more than it was in December, company founder Vijay Shekhar Sharma said last week.
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