Do you think mobile wallets can replace physical wallets? With the Paytm wallet that has made recharges and bill payments of gas, light and mobile easier for the users along with shopping, sending money and paying for taxis and more, people are finding these wallets easier and convenient. And, with what we are going to tell you in this article, you would say that the answer to the above question will prove to be a "Yes!" soon.
Paytm, which already has 100 million users, has come up with a new scheme to grab even more customers. Paytm introduces educational fee payment, i.e. cashless payments for students in educational institutions! It seems like mobile wallet companies are in a vision to replace all transactions that people are doing from their physical wallets.
Paytm offers users with the opportunity to pay school fees, dues and cafeteria bills, and buy uniforms, books and other school supplies through Paytm wallets. To make this possible, Paytm has tied up with a number of educational institutions in the country from pre-schools to colleges. This list includes reputed names like KN Modi University, Jamboree, Primus Public School, Vidyamandir Classes, Career Launcher, Swaminarayan Gurukul Vidyalaya, Delhi Public School, Made Easy and many more. Paytm is also in talks with all the leading IITs, IIMs and central and state Univeristies, and is said to complete the formal tie-ups soon.
The founder and CEO of Paytm, Vijay Shekhar Sharma said, "We are committed to bringing all services that require regular payment on to the Paytm platform. School fees and educational expenses form a significant part of an Indian consumer's regular spends. Since this segment involves children, the advent of cashless purchases and payments obviates chances of theft and misplacement that often come with carrying cash." He also added, "In line with our vision of a cashless economy and to serve the users well, we have enabled cashless payments in some of the most prominent educational institutions. Our aim is to grow this platform multifold in the next 6 months. Going forward, we will also aggregate and offer various online courses on Paytm."
India is the world's third largest market for education, with a market size of around $109.84 billion, and it is still expected to grow widely. It is said that with over 1.5 million schools and more than 35,000 higher educational institutes, there is immense potential in the educational space of India. The educational market in the country is expected to grow at an annual rate of 34% uptil the year 2017-18.
Vijay Sharma also stated why he has come up with such a solution for students by saying, "We have no margin here, but it is a solution for parents who don't want to stand in queues. Most educational institutions don’t have a payment gateway. So we will give them space on our app."
So now, you can also take advantage of this opportunity and pay fees for your children conveniently through Paytm. You can also shop, recharge and pay your bills easily through Paytm wallets. If you shop with Paytm coupons, you can get additional benefits on your payments. Log on to DiscountMantra - India’s best online offers and coupons store to get these coupons. You can also subscribe to the newsletters to get the latest offers and coupons from various online stores delivered to your inbox.