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Paytm recently partnered with 1,000 educational institutions over admission fee payment through the app.
It is the dream of mobile wallet CEOs to replace all transactions that need you to fish out a card or cash.
Two of the biggest players in the fight are trying to turn those dreams into reality by taking their products offline.
Noida-based Paytm recently partnered 1,000 educational institutions over admission fee payment through the app.
“We have no margin here, but it is a solution for parents who don't want to stand in queues. Most educational institutions don’t have a payment gateway. So we will give them space on our app,” said Vijay Shekhar Sharma, founder and chief executive, Paytm.
The company said it had partnered restaurant chains including Pizza Hut, Costa Coffee, and Vaango. Sources said talks were on with Croma, Mobile Store, Cafe Coffee Day, and Starbucks.
By the end of the year, as many as 150,000 merchants will recognize Paytm as an acceptable mode of payment, according to estimates.
On reports that Uber might launch its own payment platform, Sharma said, “Paytm is staying with Uber, even if the taxi-aggregator gets its own wallet.”
On Monday, Uber announced its riders would be able to pay using Airtel Money as well. It has also launched cash payment for Uber rides. Almost 85 per cent of all Uber’s transactions are currently done via Paytm.
MobiKwik is the only mobile wallet with an offline presence. It has deals in place with Pizza Hut, Cafe Coffee Day, Big Bazaar and WHSmith. The Delhi-based company is hoping to achieve a vendor penetration of 100,000 by the end of the year.
“No one-size-fits-all strategy. We have a strategy for each type of merchant. We have made deals with Sagar Ratna restaurants and Mobility World in New Delhi. Our aim is to get quick service restaurants and small regional chains into the fold first. We are not targeting mom-and-pop stores this year,” said Bipin Preet Singh, CEO, MobiKwik.
He added the company might start providing services in other Future Group verticals as well.
