According to sources Paytm has laid out a 3-year plan to make investments of up to Rs 5,000 crores towards to facilitate the growth of its business in the bank transfers and other digital payments space. Meanwhile Paytm, which has signed up the unified payments interface (UPI) and IMPS channels, says its platform will enable its customers to make fund transfers from one account to another bank account using these payment gateways.
Moreover it has created a dedicated ‘My Payments’ section within its app to functionalize this. Furthermore apart from this, the e-wallet cum payments bank app is rolling out a feature through which customers can make payments of a regular/routine nature like rents etc., even if they are high in value.
Recently the company has set a target of enabling
transfers to the extent of Rs 60,000 crores a month by the end of 2018. There
is also the objective to lift the number of overall transactions through Paytm
in a year from the current 1 billion to 2 billion. Furthermore in order to make
these new features on its app familiar with the customers, Paytm is currently
involved in educating its customers. Moreover one of the first tasks it has to
carry out is to complete the KYC compliance and that of linking the back
accounts to the Paytm accounts.
