Paytm targets Rs 500 crore contribution to PM CARES Fund; urges customers to donate

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Updated: March 29, 2020 12:24:02 PM

Seeking contribution from people Paytm said it would donate up to Rs 10 for every payment made using Paytm Wallet, UPI or Paytm Bank debit cart apart from every contribution made by customers.

Paytm had earlier committed Rs 5 crore for innovations making medical instruments or medicines for Coronavirus.

Digital payments company Paytm has said it is targeting Rs 500-crore contribution towards the PM Cares Fund announced by PM Modi on Saturday as an emergency fund for anyone to donate to the fight against the Coronavirus outbreak and flatten the epidemic curve. Seeking contribution from people Paytm would donate up to Rs 10 for every payment using Paytm Wallet, UPI or Paytm Bank debit cart apart from every contribution made by customers. Paytm had recently also committed Rs 5 crore for “innovators developing medical instruments or medicines,” the company had said for Coronavirus. The announcement was also made on the company’s blog where it urged customers for donation and make payments on the app in order for Paytm to adds its share to the fund.

Also read: COVID-19: Nasscom urges govt to defer tax payment, return filing for startups, MSMEs

“We hope our users wholeheartedly donate to PM CARES Fund and help save lives. We will also contribute up to ₹10 for every payment transaction using the Paytm app and instruments,” Paytm President Madhur Deora said in a company blog post.

Paytm’s decision joins the growing list of individuals and organisations committing to the fund including Bollywood actor Akshay Kumar’s pledge to donate Rs 25 crore, Tata Sons and Tata Trust commitment of Rs 1,000 crore and Rs 500 crore respectively, Rs 51 crore pledged by BCCI, Rs 500 crore committed by Ratan Tata and more. Coronavirus has infected 979 people in India so far while the death toll climbed to 25.

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