Paytm says paying with wallet balance will be the fastest way to checkout during The Big Billion Days Sale. This will help shoppers not miss out on any flash sales and limited stock offerings.
With new internet users embracing digital methods for their everyday payments, digitization of payments in India has witnessed a rapid uptick.
Flipkart today partnered with Paytm to provide customers offers and benefits during this festive season. The e-commerce platform says this partnership will enable millions of Paytm users to conveniently pay through their Paytm Wallet and Paytm UPI while shopping on Flipkart during The Big Billion Days.
With new internet users embracing digital methods for their everyday payments, digitization of payments in India has witnessed a rapid uptick. Paytm says paying with wallet balance will be the fastest way to checkout during The Big Billion Days Sale. This will help shoppers not miss out on any flash sales and limited stock offerings. In addition, Flipkart customers will enjoy instant cashback to their Paytm wallets.
The online shopping platform says the Digital India mission requires the collective responsibility of homegrown players to build interconnected business ecosystems. Hence, the addition of Paytm’s Wallet and Paytm UPI will offer a seamless one-click checkout experience to Flipkart shoppers during their purchase on the e-commerce app. Flipkart has been actively working towards building credit and payment offerings on its platform, in order to drive customers to digital modes at their own convenience. Customers, while transacting on e-commerce, are offered various payment modes at checkout.
Ranjith Boyanapalli, Head – Fintech and Payments Group, Flipkart, said, “This festive season millions of Paytm users will have access to their wallets and UPI on Flipkart. With just one click customers will be able to avail great value during flash sales this Big Billion Days. Digital payments, including UPI, continue gaining prominence in India and at Flipkart, at the same time, the digital adoption will help India get economically stronger.”
According to new data by the RBI, the total number of digital transactions in India, that are processed via any electronic mode, including UPI, IMPS, debit and credit cards, etc., are expected to reach a daily average of 1.5 billion in the next 5 years. Consequently, the net value of digital payments in India will also increase from its current value of Rs 5 trillion to Rs 15 trillion by 2025.
Madhur Deora, President, Paytm said, “Along with Flipkart, together we aim to replace cash on delivery with digital payments via Paytm Wallet and Paytm Bank account. We aim is to empower millions of Indians with innovative solutions that would play a key role in building Atmanirbhar Bharat.”