Payment services provider Paytm Canada has introduced new features and incentives to the rewards platform of its mobile payment solution.

Canadian users will now be able to collect Paytm Points upon using the service for their payments. The firm is offering one point for each dollar spent to purchase goods and services from national brands.

The reward points can be redeemed as discounts for gift cards. Customers can also buy gift cards using a credit card and top up with their Paytm points.

These points can also be converted to Paytm Cash. The virtual money can be instantly used for bill payments or sent to other users across the country, the company said.

Paytm Canada CEO Harinder Takhar said: “Since launching the Paytm Canada app in 2017, we have listened to the valuable feedback from thousands of Canadians and we are thrilled to be able to put these insights into action and deliver an exceptional user experience.

“Every Canadian has a bill to pay, and our new features and incentive programme seamlessly rewards our customers for a tedious yet necessity part of our everyday lives.”

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The firm is a Canadian subsidiary of India-based mobile payments provider Paytm. The company’s parent organisation One97 Communications is backed by Ant Financial, Softbank and SAIF Partners, among others.

Recently, Warren Buffet’s Berkshire Hathaway acquired a stake in the company for $356m.