Paytm and Axis Bank Partners to Enhance Transaction Efficiency

One 97 Communications Limited (OCL), the parent firm of Paytm, has declared a strategic alliance with Axis Bank.

Axis Bank, one of the major private sector banks in India, will offer point of sale (POS) solutions and electronic data capture (EDC) devices to its wide network of merchants.

This partnership is positioned to transform the merchant-acquiring industry by utilizing cutting-edge technology to streamline business operations and improve customer happiness.

Paytm's EDC devices are packed with a comprehensive range of capabilities that are specifically designed to simplify operations and stimulate business expansion. The integrated software provides a wide range of store administration services, such as inventory management, invoice production, promotions and discounts, sales tracking and reporting, and customer relationship management (CRM).

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By collaborating with Axis Bank, Paytm will expand the reach of its advanced technology to a larger group of merchants, thereby improving the capabilities of both organizations. This relationship enhances Axis Bank's merchant acquiring portfolio, allowing them to provide advanced payment solutions that improve transaction efficiency and operational performance. Paytm's expansion into new markets enhances its market presence and showcases its dedication to providing cutting-edge technical solutions that cater to the changing requirements of the merchant community.

Sanjeev Moghe, president & head, 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."

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