Paytm completely revamps iOS app, updates layout
Paytm has revamped its iOS app with a new design, an updated home screen, and improved in-app navigation. The makeover, which has drastically changed the layout of the app, also includes a new Profile section and Passbook tab. This has been done to make the app's interface more personalized and user-friendly. The major update will be arriving to Android later this week.
Paytm focusing on making money transfers seamless
The update focuses on making money transfers of all kinds on the platform seamless. Paytm users can now easily and quickly transfer money from a Paytm Payments Bank account or a Paytm Wallet to any other bank account at 0% fee. Earlier, this incurred a fee of 2%. Further, the Passbook tab now presents all information regarding account history and balance in a snapshot.
Paytm to grow its money transfer business
"This year, we are aiming for an exponential growth in Money Transfer transactions by transforming payments done in the unorganized sector. This will include freelancers, tuition fee, house rent, and salaries of unorganized workforce going directly into banks using the Paytm app," the company said.
Achieved run rate of one billion transactions per quarter: Paytm
Paytm is India's largest digital payments company that is used for both online transactions and offline purchases (through QR codes). The company, backed by Alibaba and SoftBank, claims to have achieved a run rate of one billion transactions per quarter. It's been pushing users for bank-to-bank payments and linking bank accounts to Paytm ever since RBI's Know Your Customer (KYC) policy has been implemented.
