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Partnership between Paytm and HDFC Bank

Published on August 24, 2021
Current Context: Paytm and HDFC Bank have entered into a strategic partnership with an aim to deliver financial solutions to end consumers and merchants.
Partnership between Paytm and HDFC Bank
  • This partnership will lead to boost the digital transformation in semi urban and rural India as it will be the combination of the bank’s network, products, and credit features with Paytm’s technological platform.
  • Both the entities will work to develop comprehensive solutions across payment gateway, point of sale machines and credit products.
  • They will focus on two of the major PoS offerings.
  • The first is that the HDFC Bank will perform merchant partnerships and to that entity, Paytm will offer its existing range of Android POS devices. In this, the payment partner will be the HDFC Bank and the distribution and software partner will be Paytm.
  • In the second, both HDFC Bank and Paytm will jointly launch the co-branded PoS product in the retail sector of India in which Paytm will have the option to offer it to its own customer base.
  • Under this partnership, both entities will deliver enhanced SmartHub solutions to the market.
  • Static Part: 
    • HQ of HDFC Bank: Mumbai
    • MD and CEO of HDFC Bank: Sashidhar Jagdishan
    • Tagline of HDFC Bank: We understand your world
    • HQ of Paytm: Noida, Uttar Pradesh
    • CEO of Paytm: Vijay Shekhar Sharma

Question: 

Q.1 With which bank has Paytm entered into a partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products?
a. Axis Bank
b. Federal Bank
c. Karnataka Bank
d. HDFC Bank

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