Paytm starts services for business to accept card payments on Android phone

Financial services platform Paytm on Tuesday launched two new Internet of Things (IoT)-based payment devices, helping businesses to accept card payments on Android phones.

The Paytm Smart PoS application allows smartphones to accept debit and credit card payments like an electronic data capture machine does. Supported by the Paytm for Business app, the Smart PoS will enable merchants to start accepting contactless card payments. The payment will be enabled through the near field communication (NFC).

Paytm has partnered with financial services institutions, including Visa and MasterCard, for facilitating card payments for Smart PoS.

Merchants need to sign up on the Paytm for Business