Paysafe Group (“Paysafe”), a leading global payments provider, is partnering with Paytm Canada to extend the payment options their customers have to securely and easily use their smartphones to pay for goods and services.
In March 2017, Paytm Canada launched its first consumer-facing mobile application allowing its consumers to pay bills from more than 5,000 service providers on its network using multiple payment options, with no fees and allowing its customers to earn cash back and other rewards via their smartphone. Consumers can redeem Paytm Points towards free or discounted e-gift cards from popular brands like Uber, Boston Pizza, Skip the Dishes, Tim Hortons, ESSO, Indigo, and many more. On November 8, 2018, the Paytm Canada app was listed as the number one finance app in Canada on both the Google Play Store and Apple App Store and it continues to be amongst the top apps in the country.
In addition to its payments solution offering, Paysafe is also processing payments for Paytm Canada, as well as providing additional data protection and security services, APIs and its payment gateway. This is the beginning of a close collaboration between both companies, as they will continue to look for ways to strengthen their partnership and to bring more value to Paytm’s customer base.
According to a Nielsen study, approximately one third of Canadians are actively using their smartphone as a mobile payment system with smartphone penetration expected to grow from 68 percent to approximately 77 percent in 2022, cited by Statista. In addition, Payment Canada’s latest Canadian Payment Methods and Trends report revealed that Canadian consumers made about one out of four remote bill payments and routine household expenditures using credit cards in 2016.
Carla Erlick, SVP for Paysafe’s ISV Channel, Payment Processing North America, commented: “Providing customers with a seamless mobile payment experience is central to what we do. We’re pleased to be enabling more ways in which Paytm Canada’s customers can pay with ease through their mobile application knowing their payment is secure. In offering our payment solutions to businesses like Paytm, we are able to help them in enhancing their customer experience in both existing and new markets.”
“Paysafe’s credibility and experience in providing secure and global payment solutions has always been a source of great confidence to us,” said Harinder Takhar, CEO Paytm Canada. “Paysafe has worked with us as a true partner and their customer on-boarding and support services have made it a seamless process for us. Plus, with the amazing spike in popularity of our app in Canada, we are even more assured we have the right partner on our side."