Paytm is an Indian mobile-first financial services company that offers payments, banking, lending and insurance to consumers and merchants. Paytm recently launched new offline payment mode.

Tap Card, it is a payment mode that uses NFC to transfer money on company-authorised Point of Sale (PoS) terminals, and is aimed at non-Internet users.
The company says it enables safe and covenient with the help of NFC and it is completely offline at Paytm-issued PoS terminals in under a second. To make payments, users can add money by scanning QR code on the Tap Card and by authenticating it at any of the Add Value Machines (AVM).The customer has to simply tap the card at merchant terminal to pay.

Paytm Tap Card-How Will It Work?
  • Step 1: Paytm user with Paytm balance visit a merchant to buy some products, but he has no Internet connection.
  • Step 2: The user loads his Paytm Tap Card with his Paytm money by simply scanning the QR code on his Paytm Tap Card.
  • Step 3: The Paytm Tap Card is scanned at Add Value Machines (AVM) at merchant, which uses NFC technology to extract payment.
Using the NFC based Tap Card it takes 0.5seconds to make payment. If your Paytm Tap Card is already load with money, you don't even need your phone.
Basically two external factors involved in the whole process:
  1. Merchants need to install a Paytm-issued PoS Terminals at their outlets. This can use NFC to scan the card for payments.
  2. Paytm Tap Card, which is being made by Yeldi for Paytm. This card costs Rs 100 and can be ordered from them.