Paytm & Axis Bank to offer POS solutions to merchants

By Gloria Mathias

Paytm, India’s payments and financial services company, has announced a partnership with Axis Bank to provide POS solutions and EDC devices (card machines) to the Bank & its merchant network.

This collaboration is set to transform the merchant-acquiring business by harnessing advanced technology to optimize business operations and elevate customer satisfaction.

Paytm’s EDC devices (card machines) come equipped with a robust suite of features designed to streamline operations and drive business growth. The integrated software offers complete store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting, CRM, and more. This POS solution ensures that merchants can effectively manage their businesses while enjoying seamless payment processing capabilities.

Through this partnership, Paytm’s technology will reach a broader merchant base via Axis Bank, thereby enhancing the capabilities of both entities. For Axis Bank, this collaboration strengthens its merchant acquisition portfolio, enabling it to offer payment solutions that improve transaction efficiency and operational effectiveness even further. Paytm extends its market presence and demonstrates its commitment to providing innovative technological solutions that meet the evolving needs of the merchant community.

Sanjeev Moghe, President & Head of Cards & Payments, Axis Bank, said, “We are happy to support Paytm in the EDC business. This partnership enables us to extend our relevant business offerings to a larger base of merchants and this is an exciting milestone to build upon.”

A Paytm spokesperson stated, “Our collaboration with Axis Bank represents a significant milestone in our mission to empower merchants with innovative technology. By integrating our POS solutions and EDC devices (card machines) with Axis Bank’s expansive merchant network, we are enhancing transaction efficiency and providing comprehensive store management services. This partnership extends our reach and strengthens customer engagement and satisfaction, ultimately supporting merchants in growing their businesses. We are thrilled to offer innovative solutions that meet the evolving needs of the market and continue to revolutionize the digital payment landscape.”

A notable feature of Paytm’s offering is the provision of multiple EMI options, which enhances consumer affordability and allows merchants to offer flexible payment plans to their customers.