Paytm, India’s payment gateway service provider has partnered with enterprise solutions provider Marg ERP to empower MSMEs with payment reconciliation services.
With this partnership, Paytm Payment Gateway will facilitate seamless transactions for over a million MSMEs using Marg ERP’s new integrated payments solution Margpay. It provides them with technology to enable businesses with an efficient and cost-effective system to collect and reconcile payments.
The company said that presently, MSMEs find it difficult to keep a track of all their receipts and payments made through multiple payment methods. Small businesses also find it challenging to deal with multiple service providers, payment interfaces and solutions that are expensive and difficult to understand. With Paytm Payment Gateway powering Margpay, MSMEs will now be able to seamlessly send and receive payments and keep track of all transactions using a connected interface. The easy to use interface of the platform will also help merchants connect their business accounts with their billing, business and accounting systems with minimum effort. Furthermore, the partnership will also extend to Paytm Payments Bank Limited powering Marg Pay’s nodal bank account.
Paytm Payment Gateway is a leader in India with over 50% market share processing transactions through Wallet, UPI, cards and net-banking. It offers several innovative services, such as Payouts & Recurring payments, OTP less card payments, instant refunds, and pre-authorization flow that addresses the needs of both B2B and B2C companies. Marg ERP, with over 50% market share in the pharma and FMCG sectors nationally, processes 20 billion invoices worth $100 billion dollars per year.
Krishnam Raju, CEO – Marg ERP limited said, “Everybody is looking for an integrated payment solution, be it SMEs or MSMEs bundled with their ERP platforms. It needs to be cost-effective and easy to use for contactless payments. Margpay, a subsidiary of Marg ERP has been launched keeping this need in mind and we are excited to partner with Paytm Payment Gateway to become the backbone of our offering.”
Saloni Malhotra, Vice President – Paytm said, “It has been our constant endeavour to empower MSMEs with the best payment acceptance and reconciliation solutions to help them join the digital ecosystem. We are equipping them with technology solutions that help to maintain their payment records and also aid in expanding their businesses. With this partnership with Marg ERP, we aim to reach a step closer to Atmanirbhar Bharat, where MSMEs have all the digital means to become self-reliant.”
Paytm Payments Gateway allows merchants to enjoy real-time bank settlement and is based on anti-fraud technology to ensure secure payments. It also provides a strong dashboard to see the payments received and bank settlements.
