Paytm Launches Food Wallet – Redeemable at Office Cafes, Online and Physical Merchants

Renowned mobile wallet company Paytm has now launched a new “food wallet” on its app as it is looking to enter the employee benefit zone. The food wallet will be made available as a separate section in the passbook option of the Paytm app.

Paytm Launches Food Wallet

With the launch of Paytm food wallet, the companies can now load food allowance to its employees under the government-approved tax redemption bracket. Paytm is planning to send sales teams to several on-board corporate clients. Employers can now transfer the money allotted for food allowance to the food wallets of the employees.

Employers have the option to choose a daily, monthly or quarterly payment schemes. Paytm’s latest move certainly comes as a more convenient option as the employers don’t have to deal with physical coupons and vouchers. The Paytm Food Wallet can be redeemed at office cafes and several physical and online merchants.

Not only the convenience and ease, but the employees can also have an added advantage such as exclusive discounts, cashback, special offers and provides you with a wide range of Paytm discounts coupon and offers. When it comes to employee benefits zone, Sodexo has the largest number of corporate clients with over 10,000 clients.

Edenred, the company that runs Ticket Restaurant, comes in second place with around 3,500 clients. However, Zeta, a company backed by Bhavin Turakhia has over 650 clients. It has to be noted that Sodexo has already opted for its proprietary acceptance network for digitizing their meal vouchers and coupons.

The company has not collaborated with any of the card networks and has issued a separate POS terminal to all the online or offline merchants on its network. Paytm’s latest move comes shortly after RBI’s announced terms and guidelines to shift to digital means by the end of this year.