It just seemed yesterday that the wallet meant a folding leather case to carry credit and debit cards, and a wad of currency notes. Now, it has a new dimension — the mobile wallet, which resides inside your phone, and can be used for recharges, paying utility bills and even for shopping.
Icing on the cake — this wallet has now found a wider use in the lives of students across India.
Paytm, India’s largest mobile wallet company that claims to have 147 million wallets,is taking its cashless solution to ISBM University’s campus to offer its students ease and comfort while making payment of academic fees, registration and enrollment charges and any such transaction that would involve sending and receiving of money through online modes thus keeping cash transactions in ISBM University campus to minimal. In a very short duration of time, Paytm has gained likeability in the Indian markets due to the freedom and convenience that it offers to the users. The wallet system in India is growing with a tremendous pace.
ISBM University is an UGC recognized private University in Raipur, Chhattisgarh, India under section 2(F) of UGC Act 1956. It is approved by the Government of Chhattisgarh under the Chhattisgarh Private Universities (Establishment and Operation) Act, 2005 (Amendment Act 2016) to confer doctorate, degree, diploma and certificates to students. The programs of ISBM University focus on building depth of understanding, capacity for interdisciplinary learning and research, analytical skills, critical thinking and communications in an atmosphere of academic freedom and integrity with special focus on ensuring socio-economic tribal-development in scheduled areas of Chhattisgarh.
Dr. Vinay Agrawal, Executive Director at ISBM expressed his gratitude by saying that, “This tie up will benefit students, teachers, parents and the institute altogether. By making ISBM University transactions cashless we wish to contribute to the Prime Minister’s vision of making India a digital nation. ISBM University’s association with Paytm has resulted into a surfeit of fee payment and transaction options to students. Implementation of the Paytm wallet system has made online admission process at ISBM University relatively easier.”
Upbeat about the cashless campuses concept, many Universities are now implementing wallet-based payments in different styles bringing out various offers for the users. These are cash backs, contests and discounts in association with such education brands.