PayTm, India’s largest payment gateway has stated that it would provide merchants with an option to either settle their dues with the company, immediately or at a time desired by them, as reported by Business Standard (BS).
This comes after the company introduced the new feature, 'instant bank settlement,' on its ‘Paytm for Business’ app.
Commenting on the positive impact that this feature will have on the merchant experience, Paytm Chief Operating Officer (COO), Kiran Vasireddy said, “Liquidity is important for the merchants to manage their cash flow and stay ahead of their personal and business cash needs. With this objective in mind, we have introduced the feature of instant settlements.”
Recently, investor and one of the richest men in the world, Warren Buffett, invested $300 million (around Rs 2,200 crore) in One97 Communications, Paytm’s parent company. With this investment, the valuation of PayTm stood at $10-12 billion, making it the most valued startup in India.
The company is also making inroads into the payments space in Japan and with the help of local partners, it has launched the digital payments service, PayPay,
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