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Paytm partners HDFC to develop payment products
August 23, 2021
Initial public offering bound digital payments firm Paytm and India’s biggest private sector bank, HDFC Bank, announced a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay.
The association will expect to empower new organizations which have recently ventured online, and enable them to grow.
Paytm and HDFC Bank are meeting up for two broad PoS offerings.
In the principal, HDFC Bank will drive dealer partnerships across India, to whom Paytm will offer its existing range of Android POS devices.
As a feature of this, HDFC Bank’s salespersons will start selling Paytm’s payment solutions in the market. HDFC Bank will be the payment partner, while Paytm will be the distribution and software partner.
Furthermore, Paytm and HDFC Bank will together launch a co-vranded PoS product in the retail segment, which Paytm will have the option to offer it to its own client base.
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