The offline payment is almost vanishing from the retail industries and in place of it, new technologies and services are introduced for the ease of the customers and one of such new service known as Paytm’s Mobile Wallet, offers recharge services, such as DTH, mobiles and also for online transactions on Uber, eBay, Bookmyshow, and IRCTC. And, soon it will be accepted at Quick Service Restaurants (QSRs), including Domino’s and Cafe Coffee Day (CCD).

The One97 Communications– the parent company of mobile commerce firm Paytm is now looking into the offline retail space in the next couple of years and for that Ant Financial Services, part of the Alibaba Group investing 25% to support the growth of mobile payment and commerce platform in India. A mobile wallet is an instrument for prepaid payment, which allows customers to store money digitally in a secure virtual wallet and, whenever customers are ready to pay using a mobile wallet, they only have to open an app in their smartphones.

Paytm Vice-President, Mr. Amit Lakhotia, told that,

We are now foraying into the offline space. We have partnered various QSRs covering 7,000-10,000 outlets in cities like Delhi, Mumbai, Bangalore and Hyderabad”.

This service should be started by mid-June in the QSR restaurants, including Domino’s and CCD. It has been already entered into the eCommerce space and also placed itself in direct competition with like Flipkart, Amazon, and Snapdeal.

Mr. Lakhotia added,

“Mobile wallet usage is definitely growing in the country. On our platform alone, about 66 million people are using the wallet services and the number will cross 100 million much before the year ends.By going offline, Paytm will offer customers the choice to pay through a secure and reliable platform”.

The company is expecting that the total revenue will be double by the end of the year from now.