Paytm has tied up with multiple parking management companies and property owners across the country which will allow the users to pay for parking their vehicles.
Parking in India’s a Rs. 2000 crore market, less than 15% of which is organized. Merchants like SA Parking, Secure and DAPS are already live with select parking lots and plans to scale up quickly.
Kiran Vasireddy, Senior Vice President – Paytm said, “Waiting in long queues to make payments for parking and running around for change are common hassles for customers in India. The need of hour is ease of payments and faster turn-around times; all of which is possible with cashless transactions. As India’s largest digital wallet, Paytm has the capability to bring the next step change in parking industry.”
With this move, parking lots will provide users an option to pay through their Paytm wallets using QR code and Barcode scanners.
This adds another use case for Paytm users to transact digitally. Currently users can pay through Paytm at petrol pumps, autos, taxis, restaurants and un-organized retail stores as well.