India's technology revolution has traditionally been about online players competing with offline. This is changing now. Online companies are partnering with offline entities to create the biggest business opportunities in the country's promising Offline-to-online (O2O) sector.
The Quick Response (QR) code is leading this revolution as it connects the offline and online ecosystems. This phenomenon has made QR codes increasingly popular in the country's retail landscape, with companies using them in print advertisements, brochures and retail products among others to offer detailed information regarding their products and services.
Paytm has pioneered QR based mobile payments in India, democratizing the payments sector by enabling merchants to accept digital payments at zero cost. Today more than five million merchants ranging from small roadside vendors and kirana stores to major retail outlets accept Paytm as their preferred payment method.
After revolutionizing India's payments landscape with its QR-based payments solution, Paytm has now integrated the capability to scan any non-Paytm QR codes generated using open standards.
This new feature on the Paytm app will help consumers browse web links, download apps, discover products, store information as well as continue to make payments, thereby offering a faster and more seamless experience. It will also aid in establishing the habit of QR code scanning in the country, which was popularized at scale by Paytm.
"We believe QR codes are the most convenient method to discover and buy a product. Our latest feature will enable consumers to scan generic QR Codes using the Paytm app and facilitate enhanced on-the-go discovery for all QR linked products and services. Going forward, we will continue to drive aggressive product innovation to ensure consumers are offered the most seamless QR scan experience," said sr. vice president - Paytm, Deepak Abbot.