Tap Card By Paytm Launched : Allows Offline Payments in 0.5 Seconds


Paytm has launched Tap Card to make digital payments at merchandiser shops without the Internet Connection.

This is an NFC-based offline payments solution that has been introduced together with digital payments company Yeldi.com.

Paytm claims that through the Tap Card, payments is made in around 0.5 seconds and is touting it to be India’s 1st “truly offline payments solution.”

Working

Transfer Paytm money without the Internet Connection

A user, who has balance in his Paytm wallet but no Internet access, can scan the QR code on his Tap Card to transfer cash to that.

Then at merchandiser shops, his Tap Card will get scanned on an add value machine (AVM) which uses NFC mechanism to extract payment.

If your card already has cash, you do not even need your phone throughout the transactions made.
Simply Tap your card at a merchandiser terminal to pay

Details

Simply Tap your card at a merchandiser terminal to pay

To make this work Paytm is issuing company-authorized Point of Sale (PoS) terminals that merchants got to install at their shops.

In the initial phase, Paytm is partnering with events companies, educational institutes and company for rolling out Tap Card payments.

Notably, earlier in 2015 too, Paytm had introduced an offline payment solution that was QR code-based.

We are actively reaching out to merchants: Paytm
“There are an oversized variety of individuals who don’t have web access or shrink back from using online payments. For them, we provide the tap Card. For guaranteeing wider acceptance, we are actively enabling merchants with NFC PoS terminals,” same Paytm COO Kiran Vasireddy.

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Tap Card By Paytm Launched : Allows Offline Payments in 0.5 Seconds

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