Lords Automative Pvt Ltd, a subsidiary of Lord’s Mark Industries Private Limited has entered a Pan-India tie up with Indian digital payments giant Paytm. The agreement aims at providing seamless finance solutions to the nationwide dealer network of Lord’s Automative to boost sales of e-vehicles and improve their market share.
Lords Automative dealers can avail gains of advanced digital payment options offered by Paytm including Paytm wallet, offline Payment Gateway (PG) services, CC/DC and net banking on a Pan India basis. Dealers can gain the benefits of easy reconciliation with features of instant settlement and direct settlement through app based and multiuser interfaces. With easy bifurcation of CC and DC transactions, dealers of Lords Automative can have enhanced access to multi-banking partners. These include top public and private sector banks which form a key part of Paytm’s ecosystem of 12 partner banks.
With this deal, the nationwide dealer network of Lords Automative will have the advantages of built-in cloud software with features of billing, inventory management, khata (bill book) software and dashboards. They can also avail bank EMI on CC & DC and benefit from schemes like EMI subvention (zero cost EMI) with offers from Paytm. With contactless payments emerging as the new normal, dealers can opt for features like Tap and Pay, QR Payments and Link Payments.
Working capital loans for channel expansion and business growth will be made available to dealers of Lords Automative. Along with provision of EMIs on debit and credit cards, Paytm will also provide its services at 50% discount in the form of cashback to the dealers on the attainment of certain milestones. With the option to create their own online store, dealers will also expand their market outreach with access to a large customer base of Paytm users.
“The deal with Paytm will facilitate more convenient and cost-effective financial transactions for our dealers with access to advanced digital financial services and credit. With the e-vehicle segment in the country witnessing phenomenal growth, this deal will be a game-changer for our dealer network with the potential to boost their sales and distribution network and gain access to new customer markets,” stated Sachidanand Upadhyay, Founder, Lord’s Mark Industries.