On Friday, cashless service provider Paytm announced it first partnership with the Indian Institute of Technology-Kanpur. Under the partnership Paytm now will provide the facility of cashless payment for depositing the fee to the country's premier engineering college.
QR code based payment
Paytm will provide QR code based payment solution to the IIT Kanpur campus. The cashless payment is not only limited to depositing the campus fee but can also be used in hostel canteens, medical stores, tea stalls, book stalls, cycle repairing shops etc. This will make payments easier for students and teachers as they won't have to worry about carrying lose change in the future.
Commenting on the occasion, Kiran Vasireddy, Senior Vice President - Paytm said, "Our 'Cashless Campus' initiative has proven to be a great success with the country's youth. This is a clear reflection of the younger generation's eagerness to choose digital payments over the hassles of cash. IIT Kanpur is a great addition to our extensive portfolio of premium institutions including IIM Ahmedabad, IIT Madras and Sree Ram College of Commerce among others that have gone cashless with Paytm. We strongly believe these cashless campuses would add a huge positive impetus to our vision of a cashless India."
Other institutes accepting Paytm
Apart from the above mentioned institutes the company has also forged partnership with many private colleges and institutions as well like Symbiosis and Christ College among others, Delhi University colleges like Sri Venkateswara and Shaheed Bhagat Singh and coaching institutes like Aakash, Career Launcher and Byju's to name a few.Over the past few years Paytm has entered into partnerships with many premier institutes like IIM A, IIM B, ISB-Hyderabad and Mohali, XLRI and IIM Kharagpur, IIT Delhi, IIT Madra and IIT Gandhinagar.