Paytm Canada, a payments and financial services company that offers a mobile payments and commerce platform, has partnered with Payment Source an alternative payments provider.
Using Payment Source’s proprietary Loadhub in-person payment network, Canadians can walk into any of the 6,000 Canada Post locations and directly deposit cash into their Paytm app without incurring any transaction costs. Paytm Canada is a subsidiary of Paytm, India’s largest mobile payments provider with more than 200 million users and is registered with FINTRAK. This new feature furthers Paytm Canada’s continued effort to provide a convenient solution to make the bill payment experience an instant one for Canadians.
With the Payment Source partnership, Paytm Canada’s mobile bill pay application now offers Canadians, who prefer dealing in cash the ability to top-up the Paytm app with cash in order to pay their bills. Paytm Canada allows Canadians to pay their bills at more than 5000 billers instantly through their cell phones and earn rewards and cashback offers for doing so. Canadians can add money to the Paytm app from their bank account, debit card or via cash with no transaction fees
“We are very excited to partner with Payment Source to add the Canada Post network to our platform, and to open doors to Canadians who otherwise would not be able to add cash to their Paytm account,” said Harinder Takhar, CEO Paytm Labs. “Paytm Canada is tenaciously revolutionizing the bill payment experience to provide all Canadians a seamless, instant and cost-free mobile account to manage their bill payments.”
"Payment Source is committed to providing Canadians with financially inclusive solutions that reduce the friction and improve the speed of their payments," said Trevor Cook, CEO of Payment Source. “We have great respect for Paytm and the international success they've had, and are excited to support their Canadian growth with our Loadhub technology.”