Fri. May 24th, 2024

Paytm, India’s fastest evolving online payment platform, reportedly, is all set to tap into the healthcare space to widen its user base.

The platform plans to foray into the healthcare payment for doctors to accept payments from patients and to purchase supplies for their medical practice.

The move, designed by Paytm, comes mere few days after Swiggy, the food delivery giant expanded its domain from food delivery and flagged off product delivery services in Bengaluru.

Also read: Swiggy expands from food domain; flags off product delivery services in Bengaluru

Wheras, as per Inc42, citing reports from Livemint, the Noida-based digital transaction space is willing to create a separate category of payments for the doctors, which can be something the most digital payments platforms have not yet offer.

“Now, these doctors also want to use this money digitally. We will launch tools to help them do that. Last week, we launched wholesale debits so they (doctors) can make bulk payments using the same Paytm,” said Vijay Shekhar Sharma, founder at Paytm.

Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.

“Our focus has been clinically high frequency, which includes top-ups, grocery stores, and milk shops such as Mother Dairy. That was the first focus. Then came the large-ticket focus. So, we got into education, which is a large ticket, not high frequency; and now, doctors,” Sharma added.

The company said that the platform will be bringing the replaceable and usable QR code, which will be displayed at the doctor’s office.

In fact, one of the reasons why Paytm is expanding its offline footprint is its declining share in the UPI payments market.

On the other hand, Deepak Abbot, senior vice president at Paytm, said that Paytm wallet is more preferred for offline payments than UPI.

Some of the prominent players in the Indian market include LenDenClub, IndiaMoneyMart, PhonePe, Monexo, LoanBaba, and many more.

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