India-based mobile payment and commerce platform, Paytm, is taking its cashless solution to campus and enabling students to make mobile payments via agreements with some 100 universities and colleges across the country.
Per a report from the Hindustan Times, the Paytm app enables students to pay utility bills, recharge their accounts and make a variety of commercial purchases. Depending on the institution, other uses of the Paytm Wallet include paying academic fees and cafeteria bills, as well as purchasing uniforms, books and merchandise from campus establishments. The app is now on campus at the Delhi Public School, India Institute of Technology, Lovely Professional University and Sharda University among others.
Indraprastha Institute of Information and Technology (IIIT), another of the partnering institutions, has opted for a phased approach first enabling purchases via Paytm at the Institute’s on-campus shops, including a coffee café, stationary shop, juice bar and canteen.
Paytm is India’s largest mobile wallet company and claims to have 110 million active wallet accounts. Moreover, Paytm estimates that some 72% of the students on the 100 campuses it has partnered with are already active users of the Paytm app.
The partnership with Indian schools and universities marks a larger intent to move toward away from cash payments. “In line with our vision for a cashless economy, we are committed to bring more and more use cases of wallet payments across categories. We have enabled wallets for admission and fee collections in some of the most prominent educational institutions and now students can also pay at canteens, cafeterias, tuck shops and other vendors on campus with their wallets,” says Kiran Vasireddy, Senior Vice President at Paytm. “With this, students can now experience a complete cash free environment at these campuses.”
Paytm is also mulling a cash-back program and other special offers to students going forward.