Paytm is helping Hyderabad digitize property tax payments: Here's how
What's the story
In a bid to modernize property tax collection in the city, Paytm has partnered with the Greater Hyderabad Municipal Corporation (GHMC).
The fintech giant has deployed more than 400 Paytm All-In-One EDC devices at different collection centers and for door-to-door tax payments.
These card machines enable residents to pay their property taxes via credit cards, debit cards, or QR codes.
Integration
Devices integrated with GHMC app for seamless transactions
The Paytm devices are integrated with the GHMC app, allowing officials to check outstanding dues, make real-time payments, and issue confirmation slips.
This integration removes the hassle of cash, cheques, or demand drafts. It ensures faster and more secure transactions while making it easier for residents to pay their property taxes.
Tax collection
GHMC's monthly property tax collection and Paytm's role
The GHMC collects ₹5-7 crore in property tax every month, with collections reaching ₹22 crore during peak demand.
Paytm's digital solution is expected to simplify the process and make it more efficient. "Our partnership with GHMC enhances property tax payments," said a Paytm spokesperson.
A GHMC representative said, "With Paytm's payment solutions, residents have multiple digital options to pay their taxes."
Information
Paytm's recent innovations in digital payments
Along with its GHMC partnership, Paytm has also recently introduced new features like UPI statement downloads, UPI Trading Blocks, and a 'Receive Money QR Widget.' These innovations are part of the company's continuing efforts to improve its digital offerings and provide more convenient payment solutions.