#paytmclone

Transferring money is quite simple for individuals and business enterprises now. They can use their smartphones for paying bills, recharging their wallets, buying tickets, availing of insurance, and also purchasing products from retail outlets. Entrepreneurs can also witness scintillating success in the fintech sector. You can develop a Paytm clone.

What are the financial services available on a Paytm-like platform?

Bill payments - Users can pay off their utility bills with ease. They can select options like Electricity, Metro Water, DTH, CNG, Cylinder, LPG, House Rent, Municipal Tax, etc. Besides that, individuals will receive cashback, discounts, and exciting offers. Moreover, they can press the auto-reminder option to not miss a due next time.

Transfer via UPI - Unified Payments Interface (UPI) is the key technology for the lightning-fast processing of transactions. Individuals and corporate enterprises can send and receive money from anyone. A contactless payment experience is ensured after users link their bank account.

Personal Loan - There is no need for people to visit a bank. They can get credit from a Paytm-like payments platform effortlessly. Individuals can choose purposes like family function, home renovation, medical, vacation, etc. Later, they have to undergo Know Your Customer (KYC) verification and get a specific amount.

Insurance - Individuals, as well as organizations, need protection against emergencies and risks. Moreover, they can select options like bike, car, health, and life. They will receive the policy details quickly. Moreover, users have to pay a premium regularly to cover different contingencies.

Other fintech solutions - Postpaid, Equated Monthly Installments (EMIs), and wealth management are other services available on the Paytm clone. This suits the requirements of individuals and business organizations perfectly.

Transferring money between individuals is quite effortless. How can they do that? A mobile payments app is the reason. Paytm’s emergence in December 2010 triggered the Fintech revolution in India. Are you that entrepreneur willing to set up a robust payment gateway? Developing a Paytm clone is the right option for you.

The fintech solutions offered by an app development company are

Peer-To-Peer (P2P) Payment development - Unified Payments Interface (UPI) is the backbone of a Paytm-like payments platform. Users can send and receive money, buy flight and movie tickets, and pay off utility bills with ease. They will get benefits like access to transaction history, exclusive offers, a self-checkout mechanism, and integration with debit and credit cards.

Point of Sale (PoS) software creation - Retailers can manage their business operations effectively with Point of Sale (PoS) devices. They receive e-invoices for every transaction made by a customer.

Moreover, an advanced dashboard will contain real-time information about the purchases, number of orders, inventory, and sales. Besides that, sellers can handle their catalogues effectively. They can add and remove items, change the prices, modify the categories, and update their inventory accordingly.

E-commerce platform development - Paytm Mall is a popular digital shopping platform. Users can purchase branded products with ease. Likewise, an app development company will create an online platform with identical functionalities. It includes a filter and search mechanism, an order cart, a social media login option, integration with debit cards, credit cards, net banking accounts, a retailer registration option, and a 24x7 technical support desk.

Financial software development - An app creation enterprise also integrates a set of financial services in the Paytm clone. Individuals can manage their funds by opening a Demat account and also earn high returns through investments. They can choose options like Mutual Funds, National Pension System (NPS), and invest in stocks of private limited accounts without paying any commission.

Settle bills, transfer money, and recharge the wallet. These 3 tasks are apt to describe the success of Paytm. More than a decade since its launch, the Indian startup has created a Fintech revolution. With an Initial Public Offering (IPO) looming next month, the digital platform will be worth $20 to $22 billion. Accordingly, entrepreneurs can come out with a customized Paytm clone and make economies cashless.

How a platform identical to Paytm helps in toppling competitors

Consumer Finance services - Individuals have an array of options on a platform like Paytm. They can send and receive money both domestically and internationally, purchase products from both brick-and-mortar stores and e-commerce platforms. Moreover, people can make hotel bookings, buy movie and travel tickets, and recharge mobile data plans.

What is the special aspect of a Paytm clone app? Users will benefit from intermediary-free financial solutions. They can opt for banking, insurance, investment, and postpaid services.

B2B fund management solutions - Undoubtedly, Paytm has enticed organizations across industries to handle money efficiently. Corporate companies can create an account to monitor the inflow and outflow of funds. They can set up a nodal account and use features like integration with Unified Payments Interface (UPI), a Point of Sale (PoS) software, submission of loan applications, and payout of salaries to full-time workers and part-time employees. Further, they can post advertisements for promoting their products and services.

Enterprises can publish promotional campaigns and receive a higher number of monthly active users (MAUs) and clicks. Moreover, they can send personalized messages to customers based on age, gender, language, and location.

Wrapping Up