Paytm’s Enterprise Bill Payment System targets INR 3000 Cr

Paytm, one of the prominent digital payment platforms on Monday said that its Enterprise Bill Payment System (EBPS) will target transactions of INR 3000 crore in the financial year 2021.

The system allows businesses to pay and manage their utility bills generated across a large number of platforms through a single platform which enables companies to monitor all the bills of their shops, offices and warehouses.

The Vice President of Paytm, Saloni Malhotra said ‘ instead of spending time and effort on the exercise of managing bills, EBPS offers companies the chance to cut the costs and focus on their growth. We expect the service to process INR 3000 crore of bills in the current financial year’.

Paytm Money is also strengthening its users with Direct Mutual Funds with zero commission to make an edge to investors above other plans. It is a mutual fund that one buys from a company or the AMC and there is no investment of an intermediary. Thus, free from any hidden charges.

The CEO of Paytm Money, Varun Sridhar says that investing in direct mutual funds can save up to 1% which goes into the commission and intermediary charges. There are no brokerage or commissions deducted from the returns, thus a better choice than regular plans.