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Paytm and Samsung collaborate to deploy smart PoS devices

Digital financial services firm Paytm on Tuesday said it partnered with Samsung stores across India to facilitate smart payments as well as its loan service Paytm Postpaid through deployment of point of sale devices.

The partnership will enable consumers purchasing Samsung devices — laptops, smartphones, television, smart watches etc — from any authorised store in the country to pay through Paytm payment instruments, including UPI, wallet, buy now pay later scheme, debit cards and credit cards.

“We continue to drive innovation in the offline payments market and with our PoS (Point of Sale) devices, merchants are able to drive higher customer loyalty. The partnership with Samsung stores will enable us to further extend the convenience of smart payments to a larger customer base,” said Bhavesh Gupta, Paytm CEO – Lending and Head Payments.

Paytm through its postpaid or buy-now-pay-later service will provide credit limit of up to Rs 60,000 per month. It will also give customers an option to avail personal loan of up to Rs 2 lakh through financial institution partners of Paytm, according to the company statement.

Paytm claims to be the leader in offline payments, having deployed 4.1 million devices across the country as of July 2022. PTI

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