Paytm aims to contribute ₹500 crore to PM CARES Fund
Paytm also said it will pay up to ₹10 for every payment made on the platform using its wallet service, UPI and Paytm debit card.
Paytm said it aims to contribute ₹500 crore to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES). The payments platform has urged citizens to contribute to the PM's fund.
In addition to this, Paytm also said it will pay up to ₹10 for every payment made on the platform using its wallet service, UPI and Paytm debit card.
"We will also contribute up to ₹10 for every payment transaction using the Paytm app and instruments. This money would be directly sent to the PM-CARES fund. Paytm commits to doing everything in its power to support the efforts of our Government in coming out of this crisis," said Madhur Deora, President, Paytm.
How to make the donation
Paytm users will find the PM CARES Fund option on the app's homescreen itself. Once users open the fund page, there will be three donation options of ₹50, ₹100 and ₹250. There's also an option for users to enter any amount they wish to contribute to the fund. Once the donation amount is entered, the contributor has to enter their name and PAN number if they wish to and make the payment.
Prior to this, Paytm said it had already started collecting contributions to purchase personal hygiene products for people who require them. Paytm also said it created a ₹5 crore fund for innovators to help them develop medical instruments or medicines to combat Covid-19.