Digital payments and financial services firm Paytm on Friday announced a guaranteed cashback offer for its users to mark six years of Digital Mission India.

Share Market Live

NSE

The firm has set aside as much as Rs 50 crore for cashback on transactions by merchants and customers through its app.

Under this scheme, users will get assured cashback for every transaction via Paytm. Customers paying bills by scanning the Paytm QR code will also be eligible for cashback.

The company has also announced an initiative, under which merchants with the highest number of Paytm transactions will get certificates and rewards. Rewards will range from Soundbox to IoT devices.

Last year, the platform had announced an ‘All-in-one QR’ code that allowed Paytm users to scan QR code of any UPI app and make payments to merchants.

Realising that not every merchant may be tech savvy, the company has decided to train merchants on how to optimise business in the digital world.

An on-ground activity, roping in merchants from across 200 districts, will begin soon. The Soundbox reward for merchants will come at a 50 percent discount apart from the guaranteed cashback, which will be valid for the next six months.

Meanwhile, the parent company of Paytm, One97 Communications plans to tap the market for a Rs 12,000 crore initial public offering.

(Edited by : Kanishka Sarkar)