On November 9, 2020 In order to ease seamless transactions for MSMEs(Micro, Small & Medium Enterprises)Marg ERP Ltd has partnered with Paytm. Under this Joint Venture(JV), Marg ERP and Paytm empowers MSME using MargPay, a new integrated payments solution, developed by Marg ERP Ltd.
Purpose of Partnership– To resolve the payment collection and settlement issues of MSMEs and aid in expanding their businesses.
Partnership Extends to Paytm Payments Bank
This partnership will also be extended to the Paytm Payments Bank Limited powering Marg Pay’s nodal bank account.
Note– Paytm, with partnership with Marg ERP intends to reach a step closer to Atmanirbhar Bharat, where MSMEs have all the digital means to become self-reliant.
Gist about MargPay:
i.MargPay helps MSMEs to track their receipts and payments made through multiple payment methods.
ii.It is a cost effective system to collect and reconcile all payments.
iii.It is an easy to use platform with a user-friendly interface.
iv.With less effort, merchants can connect it with their billing and accounting system.
Need
i.With the emergence of multiple internet technology platforms and various payment options, like Net Banking, Unified Payment Interface(UPI), Wallets etc. the SME(Small and Medium-sized Enterprises) and MSMEs face problems of payment reconciliation.
ii.The small businesses face the challenge of dealing with multiple service providers, interfaces and costly solutions, these are beyond their ability to understand and affordability.
Additional Info:
i.MARG ERP is a CMMI Level 3 certified company with 850 sales and support systems across the country.
ii.Paytm Payment Gateway has more than 50% market share in processing transactions through Wallet, UPI, cards and net-banking.
iii.It enables merchants to enjoy real-time bank settlement. It is based on anti-fraud technology to ensure secure payments.
iv.It provides a dashboard to view payments received and bank settlements.
Recent Related News:
On October 20, 2020 Zenpay Solutions, RBL Bank and YAP join hands to Digitalise Salary Accounts for SMEs, MSMEs
About Paytm:
Headquarters– Noida, Uttar Pradesh
Founder & CEO– Vijay Shekhar Sharma
Founded– August 2010
About Marg ERP Ltd:
CEO- Mr. Krishnam Raju D
Head Office– New Delhi, India
Founded– 2000.
