India’s Paytm app, which recently reported more transactions on its platform than all plastic cards combined in the country, has found a way to further bolster its reachability.
The ecommerce player announced Wednesday a toll-free interactive voice response (IVR) number that users with any kind of phone — be it a feature phone — can dial in to make use of Paytm’s digital wallet service. The toll-free number for the IVR service is 1800-1800-1234.
When a user dials in the number, they are asked to create a security code (Paytm PIN), which once set allows them to enter the registered mobile number of the person to whom they wish to send money.
It’s an interesting feature, but those who wish to use it need to be registered with Paytm beforehand. For registration, a user needs to either download Paytm app on their smartphone or find a desktop computer and visit the website.
Last month, India surprised everyone, especially its own citizens, when it said it would invalidate much of the cash overnight. With millions struggling to obtain enough of cash, an increasingly growing number of people are switching — many trying it for the first time — to digital wallets.
E-payment solution providers such as Paytm and MobiKwik have reported astronomical growth in daily transactions and app downloads. Making the most of the opportunity, they all are scrambling for new ways to help users and reach more of them.
Paytm’s rival MobiKwik recently announced a ‘Lite’ Android app which allows a merchant to generate a URL that can be sent via text message to customers. The company saw more than 2 million downloads within 24 hours.