Indian e-payments and e-commerce brand Paytm has tweaked its app’s user experience and brought multiple payment methods, including bank-to-bank transactions, as it seeks to overpower WhatsApp, which earlier introduced WhatsApp For Business app, and Google’s payment businesses in the country.
Promoting Money Transfers
Paytm, which has earlier planned to invest 5000 crore in its business, has financed 250 crore to promote money transfers and is expecting transactions under this to account for one-third of total transactions by the end of the year. The new look of the Paytm’s new mobile app went live for Apple iOS users on Sunday and will further go live for Google Android users on Monday.
Positioning its App as a ‘Super App’ for Payments
Paytm is now positioning its app as a ‘super app’ for payments by offering multiple modes of payment under one option. This move will now enable the company for large transactions such as rental payments through bank-to-bank transfers.
The company is also planning to capture large ticket-size use cases such as payments for house rent, to suppliers, and even for salaries of unorganized workforce. The instant money transfer will not be charged.
Making Money Transfer Easy
“Money transfer can often be a tedious process and we want to make it easy for people without having to log into their banking apps to send money,” said Paytm COO Kiran Vasireddy.