Paytm online payment platform has announced a strategic partnership with HDFC Bank.
With a new partnership, the Duo seeks to combine their strength in the banking rooms, loans, and digital payments and encourage digital solutions for financial transformation in this country.
Through this partnership, PayTM and HDFC Bank will build a comprehensive solution throughout the payment gateway, the post (point of sale) machines and credit products including Paytm postpaid.
PostTM Postpaid is the purchase now paying later (BNPL) solutions with EMI and easy Flexi payment options.
The first leg of the partnership will include a gateway payment and postal solutions for trading partners throughout the country.
It also aims to empower new businesses and allow them to improve further.
Will bring two wide post offering part of the partnership, the HDFC Bank will encourage the trader’s partnership throughout India.
Paytm will offer the existing Android postal device ranges for these traders.
So, while HDFC Bank will be a payment partner, Paytm will be a distribution partner and software.
Duo will jointly launch post products in the retail segment, where paytm will have the option to offer its own customer base.
“Fusion of HDFC networks, products and credit assessment capabilities and PATYM technology platforms will accelerate digital transformation in semi-urban and rural India while bringing more people to formal banking channels”, Paytm said in a press statement.