India-based Paytm has introduced the new Paytm Tap Card targeted at customers without access to internet.
The card employs near field communication (NFC) technology to facilitate digital yet offline transactions within one second at merchant point-of-sale (POS) terminals issued by the company.
Customers can load the Tap Card with money in their Paytm account by scanning the QR code on the card and authenticating it at any add value machines (AVM) across the country.
Paytm COO Kiran Vasireddy said: “We are aggressively pushing digital payments to users from every walk of life. There are a large number of people who at times do not have access to the Internet or they have a limited daily budget so they shy away from using online payments.
“For them, we offer the Paytm Tap Card to enable seamless offline payments. For ensuring a wider acceptance, we are also reaching out to the merchants and are actively enabling them with NFC POS terminals to accept payments without Tap Card.”
The Tap Card is intended to address any network-related concerns for both customers and merchants.
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In the first phase, the company is working towards collaboration with events, educational institutes and corporates to allow fast digital payments using the card.