Paytm now lets you pay for your vehicle parking using the QR code and Barcode scanners.

India’s largest mobile commerce platform, Paytm has tied up with multiple parking management companies as well as a couple of property owners across the country to allow its users pay through their Paytm wallets for vehicle parking. Paytm wallets use the QR code and Barcode scanners for not letting pay by cash. This facility is an addition for the Paytm users to transact digitally besides the utilities, including electricity, water, telephone, gas bills, restaurant bills and petrol.

An insight of Parking Market in India: With the growing number of vehicles (private as well as public), the Parking industry is ever-boosting. Presently, it is a Rs. 2000 crore market, less than 15% of which is organized, as per the data shared by Paytm to The Economic Times.

The idea behind starting such a service is to avoid waiting in long queues for paying to park and running around in search for change. Such cashless transactions saves time and frees you from the hassle of carrying cash along.

Being India’s largest digital wallet, Paytm has been foreseen to bring a revolution in the Indian parking industry.

Takeaways:

• You can now pay for your vehicle parking via Paytm. No need to pay cash for it.
• All you need is the QR code and Barcode scanners for the payment process.
• For this, Paytm has tied up with several parking management companies as well as a couple of property owners across the country.