Paytm ties up with StockHolding Corp for payment gateway services

A Sadhu or a Hindu holy man pays the vendor through Paytm, a digital wallet company, after buying a book during the annual religious festival of Magh Mela in Allahabad

Paytm has joined hands with StockHolding Corporation of India to provide payment gateway services on its website and application for its five crore customers.

The Noida-based payments giant also said it will allow StockHolding customers to access its depository services.

With a network of more than 200 branches, StockHolding is one of India’s largest depository participant and provider of custodial services. It manages over Rs 38 lakh crores in AUC (Assets Under Custody).

Now on, all transactions done on the platform will be channelled through the Paytm PG.

“With our technology-driven innovative payment gateway, we will enable ease of operations for StockHolding Clients, thereby moving towards a more efficient and digital way of managing their financial transactions,” said Abhay Sharma, senior vice president at Paytm.

Paytm said its Payment Gateway business processes over 400 million monthly transactions, claiming more than 50 percent of market share in the digital payments space.

This includes transactions through cards, UPI, wallets, and net banking. With more than a million merchant partners, it offers several unique services, such as payouts and recurring payments, OTP-less card payments, instant refunds and pre-authorization flow that addresses the needs of all forms of companies.