Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 17 2017

​Paytm replaces traditional meal voucher with food wallet

According to Paytm, this will help employers pass on food allowance to employees under the government-approved tax-redemption bracket.

In an effort to tap into the Rs 25,000 crore 'tax-free allowance' market, mobile wallet company Paytm has rolled out a 'food wallet' to replace the traditional meal voucher and provide tax-saving opportunities to corporate employees.

According to Paytm, this will help employers pass on food allowance to employees under the government-approved tax-redemption bracket.

The 'food wallet' will be available in the Paytm app, and the food allowance passed on to employees will be digital, eliminating risks of its loss or expiry.

The company said, "Paytm's food wallet comes with a unique interface where employees can see on real-time balance in the passbook and can locate the closest food outlet in the 'nearby' feature on the app. This wallet can be used at office cafeterias and also at a wide range of online and physical merchants, including small standalone outlets. The list includes KFC, Burger King, Zomato, Pizza Hut, Café Coffee Day and Big Bazaar, among others."

In addition to the ease and convenience, customers can also enjoy added benefits like exclusive deals, discounts and cashback.

Employers can instantly transfer money to the food wallets of employees based anywhere in the country with a click of a button, without any hassles of procuring, handling and distributing bulky coupons and cards.

This solution is already live at some corporate offices.

Kiran Vasireddy, Senior Vice President, Paytm, said, "Paytm food wallet will change traditional meal voucher space and will benefit all stakeholders — employers, employees and food retailers."

Comment
image
Related opportunities
  • Casual dine Restaurants
    About Us: Our Restaurant Chain Serves Fresh Pizza, Pasta, Soups and..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • After School Activities
    About Us: VK's SpellingBee is a National level Spellingbee competition organised..
    Locations looking for expansion TELANGANA
    Establishment year 2010
    Franchising Launch Date 2012
    Investment size Rs. 10000 - 50 K
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Dharmasagar TELANGANA
  • “INVESTORS who are INDUSTRIOUS, with a budget of 30 LAKHS..
    Locations looking for expansion Andhra pradesh
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Andhra pradesh
  • About Us: KRS Educreations Pvt Ltd brings a pre-school franchise model..
    Locations looking for expansion Uttar Pardesh
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 1000 - 2000 Sq.ft
    Franchise Outlets 50-100
    Franchise Type Unit, Multiunit
    Headquater Ghaziabad Uttar Pardesh
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities