Paytm and RBL Bank Partner to Expand Digital Payment Solutions

Paytm has partnered with RBL Bank to provide its Soundbox and card machines to the bank’s merchant partners. The collaboration has plans to make digital payments more accessible for businesses by integrating multiple payment modes and real-time transaction tracking.

As of March 3, 11:57 AM, Paytm, owned by One97 Communications, is trading at ₹706.00, down ₹8.95 (1.25%) today, but up 18.54% in the past six months and 68.82% over the past year, while RBL Bank Ltd is at ₹152.48, down ₹5.86 (3.70%) today, with a 32.54% decline over the past six months.

Payment Solutions for Merchants

Under this partnership, merchants will be able to use Paytm’s Soundbox and card machines to accept payments across different modes, including UPI, RuPay credit card on UPI, UPI Lite, debit cards, credit cards, and EMI options from major banks. This gives businesses more flexibility in payment acceptance.

NFC Soundbox 

The Paytm NFC Card Soundbox enables ‘Tap and Pay’ transactions, making it easier for customers to pay using debit and credit cards. This also allows international tourists to make payments using their global cards. Merchants will receive instant audio confirmations in 11 languages for transactions. As per the filing, the integration with the Paytm for Business dashboard lets businesses track transactions in real time and receive instant settlements.

Merchants will have access to low and zero-cost EMI options through Paytm’s network of over 17 partner banks, as per the reports.

Statements from Paytm and RBL Bank

Ripunjai Gaur, CBO – Offline Payments, Paytm, stated “Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust. Partnering with RBL Bank allows us to expand the reach of our pioneering Soundbox and card machines, ensuring businesses of all sizes can accept digital payments with ease. With instant settlements, EMI options, and diverse payment methods, we continue to innovate and support businesses in their digital growth journey.”

Narendra Agrawal, Head-Branch Banking & Retail Liabilities, RBL Bank, said “We are pleased to collaborate with Paytm to offer merchants on our network with advanced and innovative online payment solutions. This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. With innovative offerings like Tap and Pay-enabled NFC Card Soundbox and feature-rich Paytm Card Machines, we are committed to supporting businesses in their digital transformation journey.”

Paytm’s Global Expansion

Paytm has been expanding its international reach, with UPI payments now supported in the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal. The company also offers UPI Lite for small-value transactions, auto-pay, and peer-to-peer transfers.

All in all, the partnership focuses on expanding digital payment access for businesses while integrating payment solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.