HDFC Bank Ltd, India’s largest private
Bank, and Paytm, made a partnership to
Share their network and provide digital
Lending and payment solutions for
Consumers and merchants across India.
Objective: To create digital Transformation in semi-urban and rural
India, and involve more people in the
Formal banking system.
i.Under the partnership, HDFC Bank will
act as the payment partne, while Paytm
will be the distribution and software
ii.A co-branded point of sale (POS)
product in the retail segment was jointly
launched by Paytm and HDFC Bank. The
product would be offered by Paytm to its customer base.
ii.They will provide the payment gateway
and POS solutions for Indian merchant
partners such as Paytm Postpaid (a Buy
Now Pay Later (BNPL) solution), Eazy
EMI, and Flexi Pay.
iii.Through the tie-up, Paytm will offer its
existing range of Android POS devices to
the merchants who are in partnership
with HDFC Bank. HDFC Bank will also sell
Paytm’s payment solutions.
v.Enhanced SmartHub solution will be delivered through the partnership.
SmartHub solution is an integrated
Payment solution of HDFC Bank for
Merchants, which will enable them to
Collect payments through multiple
vi. The partnership was made prior to the proposed Initial Public Offering (IPO) of Paytm, through which it plans to raise Rs 16,600 crore within 2021.
vii.Customer base: Paytm has more than
333 million users and 21 million
Merchants on its platform. HDFC Bank
Has more than 50 million credit card and About HDFC Bank:
It was the 1st bank to receive approval
From the Reserve Bank of India (RBI) to
Set up a private sector bank.
Headquarters Mumbai, Maharashtra
MD &CEO Sashidhar Jagdishan
Headquarters Noida, Uttar Pradesh
Founder & CEO Vijay Shekhar Sharma