Paysafe Connects to Paytm Canada Offering Complete Mobile Payments Processing
Paysafe Group is clearly on a tear, based on all the information they’ve sent our way over the last few weeks. While we only just heard about their advances in hiring and promotion policy, now we’ve got a more customer-facing measure thanks to a new connection between Paysafe and Paytm Canada.
Paysafe tipped us off about this one recently, and as a result, Paysafe is now not only processing payments for Paytm Canada, but also offering a set of tools to help augment Paytm Canada’s overall position. This includes security services, data protection plans, applications programming interfaces (APIs), and even a payment gateway. This is set to be the start of a larger collaboration between the two firms, as they look to improve overall value provided to the Paytm customer base and keep customers in the fold.
With around one Canadian in three actively using mobile payments, according to a report from Nielsen, it’s clear that there’s a lot of potential in this market in Canada. What’s more, it’s actually set to grow; smartphone penetration is reported around 68 percent right now, but by 2022, that will hit 77 percent.
Paytm Canada CEO Harinder Takhar noted “Paysafe’s credibility and experience in providing secure and global payment solutions has always been a source of great confidence to us. 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.”
Such a measure is likely to end well for both sides. Canada is an obviously growing mobile payments market thanks to clear interest and increasing numbers of smartphone users, so trying to offer up a service that will meet the need more effectively and efficiently should be welcomed here. Paysafe’s options help improve safety on this front as well, which will likely draw at least some of those smartphone users into the fold.
It’s a surprise to see mobile payments doing so well in an industrialized first-world country that’s likely used to cash, but doing well it is, and will likely continue to for some time.