Paytm processes Rs 220 cr payment from retailers

Digital payments platform Paytm today said it has processed sales of over Rs 220 crore at retail partner outlets during its four-day campaign.
The Alibaba-backed company registered three-time surge in payment transactions across offline partner stores during its 12/12 Cashfree Festival, processing over Rs 220 crore in retail sales at partner stores during four days (December 9-12), it said in a statement.
The company was processing over 3 lakh transactions per day in offline retail transactions worth around Rs 15-16 crore before the event, a company spokesperson said.
"During the festival, we processed more than one million transactions every day worth close to Rs 55-60 crore," she added.

Paytm had partnered with several major offline stores including Big Bazaar, Pantaloons, Spencer's, Peter England, Allen Solly, Croma, The Mobile Store, Mothercare and Clarks among others.
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MobiKwik to power digital payments at JNU, IIT-Delhi * Digital payments platform MobiKwik today said it has partnered with entities across Jawaharlal Nehru University (JNU) and Indian Institutes of Technology (IIT), Delhi to help college students pay for daily meals and basic amenities at the campus using its mobile wallet.
"We are proud to support India's leading universities, where students from across the world come to study. Our association will facilitate digital payments for students, making their life hassle-free," Mobikwik Chief Operating Officer Mrinal Sinha said.

JNU has around 7,304 students studying at the University. IIT Delhi has about 7,784 students.
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Udio enables 500 toll booths to go cashless * Digital payments company TranServ today said it has implemented QR code-based payments system across over 500 national toll plazas and for merchant partners across India.
Transerv's flagship brand -- Udio -- integrates mVisa technology (QR code based payments technology) that allows Udio users along with all other mvisa enabled bank-app users to make cashless payments from a smartphone with just 3 taps.