Mobile wallets was among the rising tech trends in 2015, These digital wallets are being accepted at an increasing number of outlets Paytm in particular, are leading this charge.
Mobile commerce platform, Paytm has teamed up with Indian Oil fuel stations to allow payments through the Paytm wallet at petrol pumps.
All pumps in Delhi along with selected pumps in other metros are expected to go live by end of this month, post which the team expects to scale up the offering to rest of the country as well. The move eliminates the hassles associated with using cash for paying fuel bills and also further cements Paytm’s stronghold in the digital wallets space in the country. It will decide its expansion based on the feedback it gathers and plans a nationwide rollout.
This move, the company hopes, will eliminate the need for cash at petrol pumps in the next few years and bolster the use of digital payments. IOCL, on the other hand, expects a quicker turn around for fuel filling and boost its productivity.
As of now, Paytm claims to have a wallet user base of 120 million and says that 20,000 merchants accept payments via Paytm. In August, it claimed to have crossed 100 million users in the country, while carrying out over 75 million transactions per month.
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