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India's largest mobile-first financial services platform, Paytm has introduced 'Paytm Loyalty Points', which customers can earn doing multiple activities within its ecosystem.
To start with, all cashbacks that customers receive on the platform will be accumulated as 'Paytm Loyalty Points'. These points can then be redeemed across online platforms as well as over 5 million merchant outlets that accept Paytm. The company, which will also introduce more features in this offering in the coming year, aims to reward its vast user base and encourage them to transact digitally.
This will further help Paytm's offline merchant partners increase their business opportunities. Paytm has created a wide ecosystem where it offers services such as recharges and utility payments, movies/flights/bus tickets booking among others. It is also a preferred payment method across major online platforms.
Moreover, the company's widely-accepted Paytm QR enables millions of offline merchants to accept Paytm, UPI and Card payments directly into their bank accounts at 0% charge. With Paytm Loyalty Points, the platform aims to bring this entire ecosystem together and enable users to earn, accumulate and redeem anytime, anywhere. For instance: If a customer walks into his neighborhood store, he can scan Paytm QR and redeem his loyalty points.
"We are extremely grateful to our millions of users who make us the most preferred payments platform in the country. With Paytm Loyalty Points, we are providing an exciting experience to our users who can now earn and redeem loyalty points while transacting on Paytm or at any major online platform and offline merchant outlets. This will further encourage our users to keep transacting using Paytm, and drive business growth for our merchant partners," said Deepak Abbot, Senior Vice President, Paytm while commenting on this matter.