It is good news for digital marketers who are managing company’s social marketing via Facebook. In a new update facebook has partnered with paytm to allow prepaid payments for the add campaigns. This allows user to add money to Facebook account via paytm wallet.
Here is the screenshot of Paytm gateway when I tried to pay for the advertisements.
Facebook and google accounts to 70% of digital ad spend for companies. Adding a wallet means a lot to small business vendors who does not have credit card as a payment option.
Other net-banking option which is provided by facebook is integrated with Citrus Pay.
PayTm is aggressively expanding its reach to become virtual currency for India and Is accepted at most of offline locations including Petrol Bunks, resturants, Shopping malls etc. It is also in the process of setting up Payment bank with the RBI approval.
There are also other wallet options in India like Freecharge, MobiQWIk and Oxygen which are also competing with PAYtm for market share.
Mobile wallet economy is growing rapidly and with ease of regulatory scenario things in India and definitely good.