Partnership Between Marg ERP & Paytm for the Eases of MSMEs Payment
One of India’s biggest enterprise solution provider; Marg ERP with over 50% market share in Pharma and FMCG sector nationally has come together with Paytm to facilitate seamless transactions for MSMEs.
Under this joint venture, the duo empowers MSMEs using a new integrated payment solution called Marg Pay developed by MARG ERP. This technological advancement will reconcile payments efficiently in a cost effective manner by enabling MSMEs to keep a track of all their receipts and payments made through multiple payment methods like UPI, Net Banking, Credit Card, Debit Card, Wallets & NBFC.
According to Krishnam Raju, CEO Marg ERP Ltd.; a CMMI Level 3 certified company with 850+ sales & support system countrywide which processes 20 billion+ invoices worth 100 billion dollar per year, says that SME and MSMEs are facing huge problem of payment reconciliation with advent of multiple internet technology platforms and various payment options like Net Banking, UPI, Wallets, cards etc.
The small businesses finds it a challenging task to deal with multiple service providers, interfaces and expensive solutions which are beyond their ability to understand and are also not affordable for them. It adds complexity and confusion both at the time of collecting and making payments in their business.
To make the Ordering process easier, Marg ERP has developed ‘My Shop QRID’ in its software for the distributors who operate in the wholesale markets and for the shopkeeper whose shops are thronged by the customers themselves. They have to simply list & upload products, schemes, offers in QR code and print the QR code from the software and need to paste it outside the shop/counter where customers can directly scan & place orders.
With a goal to support the local SMEs & SMBs, Marg ERP Ltd. has decided to provide every Marg user to set up their online store, create digital catalogues & reach more customers with free personalized SEO friendly website worth Rs. 5000.
Marg has also provided a very beneficial feature through which users can send Invoices, Outstandings, Stock and Sale Analysis etc. & various reports to customers directly on WhatsApp through Software. Along with it, through eRetail Web Application, the customers can directly place online orders to distributors & check status of all orders, View nearby distributors, schemes inside Marg ERP Software.
He further adds, “MARG PAY is an easy to use platform with user friendly interface. It will also be very easy for merchants to connect it with their billing and accounting system with minimum effort. Furthermore, this partnership of two digital giants of the country will also extend to Paytm Payments Bank Limited powering Marg Pay’s nodal bank account.”
Saloni Malhotra, Vice President – Paytm said, “It has been our constant endeavour to empower MSMEs across the country with the best payment acceptance and reconciliation solutions to help them join the digital ecosystem. We want to enable them with technology solutions that help them maintain their records and also aid in expanding their businesses. With this partnership, we aim to reach a step closer to Atmanirbhar Bharat, where MSMEs have all the digital means to become self-reliant.”
Paytm Payment Gateway is a leader in India with over 50% market share in processing transactions through Wallet, UPI, cards and net-banking. It offers several innovative services, such as Payouts & Recurring payments, OTP less card payments, instant refunds, and pre-authorization flow that addresses the needs of both B2B and B2C companies.
Paytm Payments Gateway allows merchants to enjoy real-time bank settlement and is based on anti-fraud technology to ensure secure payments. It also provides a strong dashboard to see the payments received and bank settlements.