Paytm solves the problem of card payments in India

Chew on this: 740 million debit or credit cards have been issued in India. Only 700,000 merchants accept card payments. And there are only 1.5 million card-swiping machines – point of sale (POS) terminals – in the country. This is a huge gap in card payments which has become a sore point in India’s demonetization drive, with high denomination currency notes suddenly withdrawn and merchants not equipped to accept anything but cash. Read more: