Digital payments platform Paytm on Wednesday announced a toll-free number to enable consumers and merchants without an internet connection to pay and receive money instantly and also recharge their mobile phones.
Customers and merchants will need to register with Paytm their mobile number and set a four digit paytm PIN, the company said in a statement in Mumbai.
“They (users) can then enter the recipient’s mobile number, amount and their Paytm PIN to successfully transfer the money from their Paytm wallet to another Paytm wallet,” it said.
“We are committed to enabling more and more Indians to transact digitally. The launch of our new toll free payment number (180018001234), is another significant step in that direction. This will allow even non-smartphone users across India to go cashless,” Nitin Misra, senior vice president, Paytm said.
Currently, over a million offline merchants across India accept Paytm as their preferred payment mode, the company claimed.
Paytm has a current user base of over 160 million. The company’s investors include Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, Mediatek and Silicon Valley Bank.