Paytm ties-up with top apparel, lifestyle brands

Paytm has tied-up with companies in a wide range of categories including apparel and accessories, mobiles and electronics, consumer durables and home furnishings, among others. These brands include: The Body Shop, Arvind, Lifestyle, Maxx, Aurelia, Color Bar, Nike, Lotto, Sports Station, United Colors of Benetton, 24*7, Mothercare, Sunglass Hut, Pure Home, Archies and Reebok and other stores now accept Paytm.

Paytm recently introduced several new features like app password that ensures money stored in the Paytm wallet remains safe even if the owner’s phone is lost or misplaced. The app is now available in ten regional languages including Hindi to make digital payments accessible to all. The aim is to make payments synonymous with Paytm.

Paytm is expecting to roll out its payments bank soon. Paytm Payments Bank has set itself a target of 200 million accounts, across current and savings accounts, and mobile wallets, within 12 months of the launch. It aims to touch half a billion accounts by 2020. Paytm already has close to 150 million electronic wallets. The bank will sell products such as loans, wealth management and insurance to drive revenues. Payments banks are not allowed to lend themselves, but many are banking on cross-selling banking products through partnerships.