Paytm revamps its app, aims exponential growth in Money Transfers this year
India’s leading payment gateway Paytm that offers comprehensive payment services for customer and merchants has revamped its app to make it even more user friendly and intuitive. The new update personalizes the app experience for the user, showcasing frequent use cases at a customized level. Money Transfers is also now simpler & faster; offering instant transfers from a user’s Paytm Payments Bank account, Paytm Wallet or any other bank account to any bank account at 0% fee. Passbook, which contains account history and balance, has been revamped to present all information in a snapshot.
Paytm has evolved from being a wallet company to a full stack payments provider by offering multi-source and multi destination solutions. The Paytm app is being used to make payments using Credit/Debit Cards, any Bank account, Paytm Wallet and Paytm Postpaid to the recipient Bank Account or Paytm account. The platform is used by millions of users for online transactions on Paytm and on other popular apps/websites, offline stores (through Paytm QR). This, combined with its reach of 7 Million offline merchants makes Paytm the dominant player in this space. The company has already achieved a run rate of 1 Billion transactions per quarter, making it the largest payments service provider in the country, reaffirming its leadership.
With this revamp, Paytm aims exponential growth in Money Transfers this year. It has been aggressively educating users to link their bank accounts and experience instant transfers using the Paytm app. This will address the money transfer need for variety of use cases like house rent, supplier/ wholesale dues, tuition fee, freelancers, salaries of unorganized workforce, peer-to-peer payments among others. The increased thrust on Money Transfers has aided the company in taking the new KYC norms in its stride, and has been able to sustain the growth in transactions. While the platform continues to meet KYC completion requirements of a massive number of its customers, it is overwhelmed with the demand and consumer trust. This further proves that Paytm is now part of millions of customers’ everyday life.
Kiran Vasireddy, COO – Paytm said, “We are very excited to introduce the new revamped interface on Paytm App. In continuation of our constant effort to provide our customers with the best user experience, the new design is refreshing and has upgrades to some of the most important flows including Money Transfers. I am very happy to share that we have successfully inculcated the use of Paytm as a habit in millions of Indians – to transact digitally online and on Paytm app using their preferred payment method. Our offline payments have also scaled as we pioneered Paytm QR, enabling merchants to accept payments directly into their bank accounts. We are overwhelmed with our users’ trust in us and we will continue expanding our operations to every nook and corner of the country. This year, we are aiming for an exponential growth in Money Transfer transactions by transforming payments done in the unorganized sector – this will include freelancers, tuition fee, house rent, salaries of unorganized workforce and others into direct bank transfers using the Paytm app.”
India’s leading payment gateway Paytm that offers comprehensive payment services for customer and merchants has revamped its app to make it even more user friendly and intuitive. We are excited to unveil an all new Paytm experience for you — your Paytm App has now become more personalised, user-friendly and intuitive!
With this revamp, we have incorporated invaluable feedback from user insights into our P2P & money transfer flows. We have made sending money to anyone easier by reducing the number of steps, adding more options for funding source, optimising the backend and adding features such as Recents. This will now help you make quicker payments on Paytm.
An All-New Home Screen
You will now see a fresh look of the Paytm App home screen. We wanted to make it simpler and let you focus on some of the most used Paytm features.
We have personalised this section for you: you will now see relevant categories upfront based on your usage. The rest will be under the View All button below the second row. This will help you navigate your way faster on the home screen.
When you use any service which is inside, it will automatically be placed on the front when you need it the next time. You can make one-touch quick payments from your Home Screen under the Recent Payments section. It carries all recent payments you have made at stores & retail outlets or money you have paid to your friends.
Money Transfer Revamp
Money Transfers have now become simpler & faster. You will now discover the ease in sending money from any bank account to any bank account at 0% fee. You can also add beneficiaries, which is an enhanced security feature for making faster repeat payments.
Money Transfers have now become simpler & faster
Now, send money to bank account beneficiaries, UPI address, Aadhaar number or to any Mobile directly. Money Transfer on Paytm is quicker & more efficient than ever before!
The New Passbook
Your Passbook, which shows your account history and balance has been revamped to present all information in a snapshot. It now allows you to see a summary of all accounts you hold on Paytm, i.e. Savings Account, Fixed Deposit, UPI, Wallet, Food Wallet, Gift Wallet and more.
Your New Profile Section
Your Paytm profile has also gone dynamic with personalised experience. The most relevant items will be visible to you here upfront. Your user profile QR code has also levelled up! It allows someone to send you money or get themselves added to your contacts and start a chat. You can even save this QR Code to your gallery. The familiar Paytm Scanner too has gotten its own upgrade, and you will now be able to see your recent scans upfront — an easy way to repeat payments!
The Paytm Scanner too has gotten an upgrade
In the same section, you will see a showcase of Paytm’s cool cashback offers, again personalised to your usage. When you scroll down on this section, you will even find easy to understand videos of how to use various features of Paytm.
So, what are you waiting for? Go ahead, try your new Paytm App. The latest update is now live on iOS and is being rolled out on Android too.
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