Paytm Launches Food Wallet For Corporate Employees | TechTree.com

Paytm Launches Food Wallet For Corporate Employees

This new ‘Food Wallet’ provides tax saving opportunities for corporate employees.

 

Paytm has just rolled out its so-called ‘Food Wallet’ which is claimed to be a first-of-its-kind wallet to provide tax saving opportunities for corporate employees.

A recent press release mentions that this new innovation will in-fact help companies pass on food allowance to employees under the Govt approved tax-redemption bracket. The Food Wallet will be available in the Paytm app and the food allowance passed on to employees will be digital. This would eliminate risks of loss and expiry, adds the company in its recent press note.

Speaking more about the wallet, Paytm has announced that the Food Wallet comes with a unique interface where employees can see a real time balance in the passbook and can locate the closest food outlet in the ‘nearby’ feature on the app. This wallet can be used at office cafeterias and also at a wide range of online and physical merchants including small standalone outlets.

It is also being said that the list includes KFC, Burger King, Zomato, Pizza Hut, Café Coffee Day and Big Bazaar among others.

Employers can instantly transfer money to the Food Wallets of employees based anywhere in the country with a click of a button without any hassles of procuring, handling and distributing bulky coupons and cards. This solution is already live at some corporate offices. 


Speaking at the launch, Kiran Vasireddy, Senior. Vice President – Paytm said, “Paytm food wallet will revolutionize the traditional meal voucher space and will benefit all stakeholders – employers, employees and food retailers. Corporate employees can now pay for their food and beverages using their mobile on the go and keep a track of all payments made on the app. This will offer great convenience when compared to the traditional instruments like paper vouchers and will have tax benefits too.”


TAGS: Paytm

 
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