Categories: Business

paytm launches Rs 100 crore loyalty scheme for Kirana store

Paytm loyalty scheme

new Delhi. Digital payment platform Paytm on Tuesday introduced a Rs 100 crore loyalty scheme for grocery shoppers. This scheme will help grocery shoppers who are suffering losses due to transaction fees. Shopkeepers now have to pay a one percent transaction fee (merchant discount rate-MDR) to send all the transactions in their Paytm wallet to their bank accounts.

Paytm Senior Vice President Saurabh Sharma said that banks charge us a fee to put money in the wallet and now we will return this one percent MDR to our shopkeepers. This will benefit them twice. One, his cost will be less, second he will be able to take advantage of many financial schemes on his platform. The company said that it has set aside a sum of Rs 100 crore. It will be used to encourage grocery shoppers to use more digital facilities during the Corona virus epidemic.

This post was published on May 6, 2020 2:54 am

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