Renowned digital payment company Paytm has announced that it has collaborated with Indian Institute of Technology, Kanpur to give an impetus to the ‘Cashless Payment’ initiative of the company. The official statement that was given by Paytm revealed that it has enabled QR code-based cashless payment facility across different offline touch-points that are located within the campus that include cycle repair shops, bookstalls, tea stalls, medical store, hostel canteen and others.
The company expressed that the facility will make the teachers and students to make easy payments they need not worry about carrying loose change. Senior Vice-President of Paytm, Mr. Kiran Vasireddy revealed that the Cashless Initiative launched by Paytm received a tremendous response and became successful among the country’s youth. The success of the initiative clearly reveals that the youth of the country are eager to adopt digital payments.
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Mr. Kiran further explained that collaboration with IIT Kanpur would be an additional advantage for the success of the initiative and enhance the sphere of cashless transactions. Earlier, Indian Institute of Management, Ahmedabad, Indian Institute of Technology, Madras and Shri. Ram College of Commerce (SRCC) had collaborated with Paytm for cashless transactions.
The Senior Vice-President of Paytm indicated that the major aim of Paytm is to see India as a cashless India where all the citizens adopt digital transactions. He further explained that Paytm is targeting major colleges and varsities in India where cashless transactions will be implemented.
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The plan of the central government is also to make India a cash fee country. For this purpose, the government has directed all the institutes of higher learning to organise awareness camps on digital payments. The camps were conducted successfully at various villages, cities and towns by various institutes and made the initiative successful.