Paytm has tied-up with companies in a wide range of categories including apparel and accessories, home furnishings etc. These brands include: The Body Shop, Arvind, Lifestyle, Maxx, Aurelia, Color Bar, Nike, Lotto, Sports Station, United Colors of Benetton, 24*7, Mothercare, Sunglass Hut, Pure Home, Archies and Reebok and other stores now accept Paytm.
The company recently introduced several new features like app password that ensures money stored in the Paytm wallet remains safe even if the owner’s phone is lost or misplaced. The app is now available in ten regional languages including Hindi to make digital payments accessible to all.
Paytm is expecting to roll out its payments bank soon. ‘Paytm Payments Bank’ has set itself a target of 200 million accounts, across current and savings accounts, and mobile wallets, within 12 months of the launch. It aims to touch half a billion accounts by 2020. Payments banks are not allowed to lend themselves, but many are banking on cross-selling banking products through partnerships.
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