Paytm for Shopkeeper or Retailer (Paytm POS Guide)

After demonitisation on Nov 8, Indian economy is still reeling under the pressure of limited cash and only way out is to move towards digital cashless payments. This has become even more essential for shopkeepers and retailers who are loosing daily business as customers don't have enough cash or they don't have enough change. Due to its already established setup, paytm has emerged as the best option available at this moment.

Here is a quick guide on how shopkeepers and retailers can use paytm to receive money from their customers - i.e., how they can use paytm as POS (point of sale).

Please note that compared to Paytm, other POS solutions like debit/credit card swapping machines requires huge setup fee (e.g., Rs 10000 or so) and they also charge per transaction commission from 1.5 to 3%. Paytm in relation does not require any setup fee and their is no transaction commission for now - i.e., no fee for now.

Using Paytm by Shopkeepers or Retailers for Receiving money and as POS

Shopkeepers, Merchants and Retailers want to receive money from their customers at their shop or business location. POS or Point of Sale is a terminology used for machines used for receiveing this money in a cashless manner.

Using paytm for this does not require any hardware or machine. In paytm, shopkeepers have 2 main options to take money from customers:

1. Customers having paytm account - Customer can directly tranfer the money using their paytm mobile app or by calling a phone number if they don't have smartphone or internet connection.

2. Customers not having paytm but having credit/debit card - Customer can provide their credit/debit card details which shopkeepers enter in their paytm app. Note - this feature was launched for few days, but has been disabled to make it more secure.

So currently you will have to use 1st mode only. That is, your customers will need to have a paytm account. Though due to demontisation, a large number of people already have paytm account.

Here are the steps required to register and take money using paytm:

Registering with Paytm

First, the merchant or retailer need to register with paytm by providing their mobile phone number. They can either:

• Download Paytm app on their smartphone and sign up using your mobile number
• Or register on paytm website by providing their mobile phone number

It's that simple. No setup time or fee required.

Receiving Money from Customers using Paytm

Your customer can pay directly to you by entering your mobile number in their paytm app, entering amount, and clicking pay or send.

If they don't have a smartphone or internet connection, but have a phone, they can dial a number and use paytm without internet to tranfer money. See here for details.

Receiveing Money from Customers - Paytm QR code

There is another easier way to receive money where you don't need to tell your mobile number to your customers. Instead you can paste a QR code (looks like a photo) on your shop wall and customers can scan this using their paytm app and enter amount. Money will be tranferred in your paytm wallet.

To apply for paytm QR code, you need to sign up at Paytm Solutions for Retail Store. Once you fill up the form there, you will immediately get a QR code. You will need to take a printout of this and paste it in your shop.