Paytm brings back app PoS feature with a modification

After a week of rolling back , Paytm has relaunched the service for merchants, albeit with changes, calling it a P2P payments.

So instead of punching in debit or credit card details on a merchant's phone users will now get a link after the merchant enters the consumers' mobile number and amount to be paid on his or her app. The link sent to the customer will help in finishing the payment process on their phones itself.

Paytm's original in-app PoS was launched to let merchants accept payments from consumers by putting in their card details onto the vendor's smartphone which posed security concerns for user's card data. Payment network companies such as Visa and MasterCard had raised concerns on that feature after which the Noida based company had to roll back the service.

"Our latest product will enable millions of small and medium sized merchants to instantly start accepting card payments while ensuring complete adherence to various industry standards." said Nitin Misra, SVP- Paytm said.

Digital payments firm Razorpay has already launched a similar service post demonetization to help merchants accept payments digitally. Paytm, has been one of the biggest beneficiaries after the government said that Rs 500 and Rs 1,000 notes had become illegal tenders on November 8.