Transferring money is quite simple for individuals and business enterprises now. They can use their smartphones for paying bills, recharging their wallets, buying tickets, availing of insurance, and also purchasing products from retail outlets. Entrepreneurs can also witness scintillating success in the fintech sector. You can develop a Paytm clone.
What are the financial services available on a Paytm-like platform?
Bill payments - Users can pay off their utility bills with ease. They can select options like Electricity, Metro Water, DTH, CNG, Cylinder, LPG, House Rent, Municipal Tax etc. Besides that, individuals will receive cashbacks, discounts, and exciting offers. Moreover, they can press the auto-reminder option to not miss a due next time.
Transfer via UPI - Unified Payments Interface (UPI) is the key technology for the lightning-fast processing of transactions. Individuals and corporate enterprises can send and receive money from anyone. A contactless payment experience is ensured after users link their bank account.
Personal Loan - There is no need for people to visit a bank. They can get credit from a Paytm-like payments platform effortlessly. Individuals can choose purposes like family function, home renovation, medical, vacation etc. Later, they have to undergo Know Your Customer (KYC) verification and get a specific amount.
Insurance - Individuals, as well as organizations, need protection against emergencies and risks. Moreover, they can select options like bike, car, health, and life. They will receive the policy details quickly. Moreover, users have to pay a premium regularly to cover different contingencies.
Other fintech solutions - Postpaid, Equated Monthly Installments (EMIs), and wealth management are other services available on the Paytm clone. This suits the requirements of individuals and business organizations perfectly.
Looking to turn up the heat in the fintech space? Connect with an app creation enterprise now for building a Paytm clone soon.