Paytm Canada Adds Bill Payments Rewards to its Mobile Payments
Paytm Canada has its work cut out for it. There are a lot of mobile payments options in Canada, and it’s just one more among a whole bunch. So why choose Paytm Canada at all? Well, it’s got one rather impressive reason going for it: a recently-introduced rewards platform that’s being billed as the “first of its kind” in the field.
This “first of its kind” rewards program is surprisingly extensive; it lets consumers earn both points and cash back options that are connected to any payment method. It even allows for mobile bill payment, a move that gives users access to “an instant and cost-free” mobile account, with the ability to pay bills connected to around 5,000 individual billers.
Customers can effectively take their mobile devices to any Canada Post location in Canada—about 6,000 such locations are scattered throughout the country at last report—and customers can pay their bills through mobile devices without paying any kind of transaction fee.
Paytm Canada’s CEO Harinder Takhar noted “…consumers will increasingly choose digital channels to access all kinds of financial services if they are offered a superior experience. Paytm Canada is improving and modernizing the experience of managing day-to-day finances for Canadians, and we will continue to build secure digital products and services that promote a rewarding experience.”
Paytm’s been operating in Canada for just over a year now, so it’s really not surprising to see it pull out something rather big in a bid to get some interest going. It’s got to distinguish itself in a field full of competitors, and this is just the kind of thing that might do the job. Offering up access to rewards for just about anything—even paying bills—and making it mobile-device-simple from thousands of locations is a noteworthy proposition. It’s exactly the kind of thing that gets users in the door and improves the likelihood they’ll stick around, and that’s no mean feat in a market packed full of competition.
Only time will tell how well this works for Paytm, but on the surface, it’s certainly the kind of recipe that could draw some big attention.