India-based digital payments app Paytm has entered a collaboration with Axis Bank to deliver POS solutions and EDC devices to the latter’s merchant network. Following a previous partnership from February 2024, when the two entities joined forces to support the settlement of merchant payments, Paytm and Axis Bank now plan to work together to offer POS solutions and card machines to the bank, as well as to its merchant network.

Through this partnership, Paytm and Axis Bank aim to optimise the merchant acquiring business by leveraging advanced technology and improving operations, while elevating the customer experience. Moreover, Paytm’s EDC devices are integrated with a suite of capabilities developed to simplify operations and support business expansion. The software provides complete store management services, such as inventory management, invoice generation, promotions and discounts, sales tracking and reporting, and CRM, among others. Also, the POS solution intends to ensure merchants can conveniently and efficiently manage their businesses while benefiting from enhanced payment processing features.

Paytm and Axis Bank’s collaboration As part of the partnership, Paytm’s technology is set to reach a wider audience through Axis Bank, thus improving the capabilities of both organisations. Regarding Axis Bank, the alliance aims to solidify its merchant acquiring portfolio, allowing it to provide payment solutions capable of optimising transaction efficiency and operational effectiveness. On the other hand, by working together with Axis Bank, Paytm can further its market presence and assist its commitment to offering advanced technological solutions that meet the needs and demands of the merchant community. Furthermore, according to Axis Bank’s officials, the collaboration with Paytm is set to extend the bank’s relevant business offerings to a larger merchant base.

Representatives from Paytm underlined that the partnership with Axis Bank supports their company’s allegiance to enable merchants with optimised technology. The integration of the company’s POS solutions and EDC devices with Axis Bank’s merchant network allows the former to improve transaction efficiency and offer comprehensive store management services. Additionally, among Paytm’s offering features is the delivery of several EMI options, which focus on improving consumer affordability and enable merchants to provide flexible payment plans to their users. Through this capability, merchants are set to expand their sales and grow their business, whilst offering a customer-centric experience.

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