One of the biggest enterprise solutions providers in India, Marg ERP, with over 50 per cent 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 MSMe using this new integrated payments solution called MargPay developed by Marg ERP Limited. This technological advancement will reconcile payments efficiently in a cost effective manner by enabling MSMEs to keep track of all their receipts and payments made through multiple payment methods. "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 find it challenging to deal with multiple service providers, interfaces and expensive solutions, these are beyond their ability to understand and affordability," said Krishnam Raju, CEO - Marg ERP limited which processes 20 billion invoices worth 100 billion dollar per year.
"It adds complexity and confusion both the time when collecting and making payments in the business. They need to spend huge amounts of time recalling about all the payments and their sources. Now, this has become a daily headache for them due to so many transactions on daily basis. Either they are not able to remember all the payment or they need to appoint a paid employee for this work only. Today, since most of the business accounts are not connected to the billing/business/accounting systems, it has also created more problems to their businesses," Krishnam Raju added. Notably, MARG ERP is a CMMI Level 3 certified company with 850 sales and support system countrywide.
"MARGPAY 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," he further added.
"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, with Marg ERP, we aim to reach a step closer to Atmanirbhar Bharat, where MSMEs have all the digital means to become self-reliant," said Saloni Malhotra, Vice President - Paytm.
Paytm Payment Gateway is a leader in India with over 50 per cent 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.