Tag: mobile payments news

Paytm seeks to expand mobile payments to more offline merchants

Paytm will be working to expand its offline merchant network this year

Mobile payments firm Paytm is looking to expand its offline merchant base in India. The company intends to establish a stronger presence among physical stores in an effort to help merchants connect with the growing number of consumers that are beginning to use their mobile devices to purchase products. Vijay Shekhar Sharma, CEO of Paytm, notes that the company will be present offline “in every nook and corner.” Paytm has already established a considerable foothold in the digital commerce space and has become quite popular with online retailers.

Company intends to add 4 million offline merchants to its network by the end of 2016

Paytm intends to sign up 4 million offline merchants for its service by the end of this year. Currently, the company’s offline merchant network includes various small retailers as well as larger organizations such as More, a goods and grocery retailer. Paytm also includes Indian Oil among its clients and consumers can use their mobile devices to pay for petroleum at gas stations in many parts of the countries.

Paytm processes 3.5 million transactions every month

mobile payments - Point-of-sale SystemRetailers using Paytm are given a sticker that they can place next to point-of-sale systems. Using a mobile devices, shoppers can scan this sticker in order to make a payment for products that they are purchasing. Paytm currently processes some 3.5 million transactions every month, totally approximately $8.5 million. The company predicts that the mobile payments being made at physical stores will grow significantly this year, with Paytm processing a predicted 35 million transactions a month by the beginning of 2017.

Consumers are becoming more interested in mobile commerce

India has become a very active mobile commerce market. Several retailers are beginning to focus more heavily on the mobile space as consumers become more reliant on their smartphones and tablets. These consumers see mobile shopping as convenient, as they can use their devices to shop for products wherever they are. As more retailers begin accepting mobile payments in physical stores, consumers are beginning to use their smartphones rather than conventional forms of commerce to pay for products that they are interested in.

Visa aims to make mobile payments faster with update to Visa Checkout

Visa Checkout service has been improved to highlight the convenience of mobile commerce

Visa wants to make the mobile commerce process faster and is working to improve its Visa Checkout service. Visa Checkout was first introduced in 2014 as a way for Visa to compete with PayPal and other companies. The service allows merchants to embed interactive buttons on their sites and mobile applications, allowing consumers to make payments without having to navigate away from these sites or apps. The service had succeeded in generating strong support among consumers, but Visa is keen to make the service faster in order to highlight the convenient nature of mobile payments.

Payments made through Visa Checkout will now be faster

When Visa Checkout was first launched, consumers would have to input a username and password in order to complete a transaction. Now, however, the service has been updated to require only a password. Customers using the service now see a picture of a card where the Visa Checkout button used to be. Swiping right on the card on a mobile device asks users to input a password and this makes the mobile payments process much quicker.

Access to Visa Checkout is expanding to more merchants interested in connecting with mobile shoppers

Visa - Mobile PaymentsVisa is also expanding access to its Visa Checkout service. When first launched, Visa Checkout was only available to merchants selling digital goods and services. Some merchants were able to use the service if they delivered goods to physical stores for later pickup. Now, Visa Checkout can be used by merchants that ship products directly to customers over the next few months. Visa expects that this will be a big hit with mobile shoppers, who are already convinced of the convenience of mobile commerce.

Visa is making mobile commerce more secure and convenient

Convenience is one of the most attractive aspects of the mobile payments field. Many consumers have opted to use their smartphones to shop for and purchase products due to this convenience. Visa has also succeeded in making the mobile commerce space safer for consumers, which has further encouraged their participation in this sector.