Academic Institutions take Digital Strides with Paytm on board!
New Delhi, 11th February 2016: Paytm, India’s largest mobile payment and commerce platform, has taken its cashless solution to campuses through tie-ups with over 100 schools and colleges, including Delhi Public School, India Institute of Technology, Lovely Professional University, Sharda University to name a few.
As per the statistics, over 60% of the students in most campus’s are already active users of the Paytm app. Users can now pay school fees and dues, cafeteria bills as well as buy uniforms, books and merchandise through the Paytm Wallet. By minimizing cash, the initiative shall be highly beneficial for the students and parents alike.
Kiran Vasireddy, Senior Vice President at Paytm said, “In line with our vision for a cashless economy, we are committed to bring more and more use cases of wallet payments across categories. We have enabled wallets for admission & fee collections in some of the most prominent educational institutions and now students can also pay at canteens, cafeterias, tuck shops and other vendors on campus with their wallets. With this, students can now experience a complete cash free environment at these campuses.”
Upbeat about the cashless campuses concept, the institutes are implementing wallet-based payments in different styles and phases. Students applying to institutes such as Lovely Professional University (LPU) can pay on LPU Nest using Paytm and when they join the campus they can use Paytm’s offline payment solution at their 100+ canteens and tuck-shops apart from paying their fee online using Paytm.
In Delhi, Indraprastha Institute of Information and Technology (IIIT) shall allow making payments using Paytm at the shops based inside the university. The wallet payments are being initiated at the Café Coffee Day unit, stationary shop, juice corner, canteen and monthly mess services. Post the success of the 1st Phase it will be extend to fees submission as well.
