Paytm Partners With Axis Bank To Offer POS Solutions, Card Payment Machines to Banks and Merchant Network

New Delhi, Jul 23: Fintech firm One 97 Communications, which owns the brand Paytm, has partnered with Axis Bank to provide point of sales solutions and card payment machines to banks and its merchant network, the company said on Tuesday. Paytm's EDC devices (card machines) come equipped with an integrated software that offers complete store management services, including inventory management, invoice generation, promotions and discounts, sales tracking and reporting, CRM, etc, the company said in a regulatory filing.

"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," Paytm spokesperson said. TCS Partners With Rolls-Royce To Focus on Researching Hydrogen Fuel System Technology.

Through this partnership, Paytm expects its technology to reach a wider merchant base via Axis Bank, thereby enhancing the capabilities of both entities. For Axis Bank, this collaboration strengthens their merchant acquiring portfolio, enabling them to offer payment solutions, the filing said. NPCI Launches UPI ONE WORLD, India’s Digital Wallet Now Accessible for NRIs and Foreign Visitors; Check Details.

"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," Sanjeev Moghe, President & Head, Cards & Payments, Axis Bank, said.

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