Indian mobile commerce player Paytm has launched Paytm Cash, a semi-closed wallet for online shopping. This new service will allow users paying postpaid mobile, landline, data card and utility bills. Also, Paytm will soon enable its customers to use this new wallet to shop on other websites as well.
Speaking on Paytm Cash, Paytm CEO Harinder Takhar said, "This will increase wallet adoption by our users to higher levels. It will increase the convenience offered to customers."
Paytm allows users to complete their transaction in a single click, or in other words, under 10 seconds. Paytm expects more than 100 of its current 250 online merchants to start accepting the wallet in January itself.