To pay fees and regular purchases cash free for students and parents, announced by Indian M-commerce firm Paytm. It has launched cashless payments in over 10 educational institutions. Purpose to introduce this tool is used for payments for students such as school fees, café bill and merchandise through the Paytm Wallet following the ties up.
The company will serves different online courses on Paytm in the future. In that focused on students’ involvements, cashless payments and purchases, said by Vijay Shekhar Sharma, Founder and CEO.
Paytm has partnership with IIT Mandi Universal Education Trust, KN Modi University, Vidyamandir Classes, Made Easy, Primus, and Jamboree Public School in Bangalore, and Delhi Public School. Paytm is in discussions to tie up with IITs, IIMs, central and state universities soon, the company said.
Paytm believes there’s immense potential in the Indian education space, quoting a Fitch report that estimates the Indian education sector’s market size at $109.84 billion (roughly Rs. 7, 29,672 cores) in 2015.
