Paytm will hold the second edition of its '12/12 Festival' on December 12 to promote use of digital payments across its five million merchant partners.
The "offline shopping festival" is aimed at driving greater sales for offline merchant partners accepting Paytm. Customers will be offered a variety of deals and cashback of up to 50 per cent on payments made through Paytm.
These 5 million offline merchants include large organised stores, supermarkets, restaurants, pharmacy stores, petrol pumps and milk-booths, among others.
Paytm Chief Operating Officer Kiran Vasireddy said “A majority of India's commerce occurs offline in the form of in-store' payments across consumers' trusted network of local and brand stores. True digitisation in India will happen when a large majority of in-store payments move from cash to digital. With our '12/12 festival', we celebrate customers walking into stores where our merchant’s partners welcome digital payments”.