All registered NGOs across the country will not be charged transaction fees by Paytm's Payment Gateway services, stated the company. This service would be applicable on donations of up to Rs 10 lakh. This move will help NGOs save lakhs of rupees in transaction fees, which they would be able to use for providing more aid and relief to those affected by the pandemic.
The company is offering instant account activation and same-day settlement facility along with zero charges on setup and maintenance. With the Paytm Payment Gateway NGOs are able to get the funds the same day.
The company is already offering its payment gateway services to a few of the largest NGOs in the country. Over the last several weeks, the Paytm Payment Gateway has seen a 400 per cent increase in donations to NGOs via its payment gateway.
Paytm Spokesperson said, "NGOs have always been an integral part of social welfare in India. During this ongoing pandemic, they have played an important role in helping millions of citizens get access to food, healthcare, monetary support among other things. We want to do our part in helping them perform their services better by ensuring that they are able to seamlessly, smoothly and immediately get access to funds. Our aim is to help NGOs serve millions of more people and contribute in saving many more lives."