Paytm launches ‘1212 Cashfree Festival’ to promote offline transactions

Paytm is leaving no stones unturned to ‘cash-in’ the ongoing cash crunch post demonetization. The latest in the long list of targeted moves is the '1212 Cashfree Festival', which the company is calling its first offline shopping festival.

From 100 percent cashbacks to free movie tickets, Uber rides, iPhones and tickets to T20 games, the company is offering a range of offers for digital payments made through Paytm at 15 lakh offline stores in the country.

Paytm has tied-up with several major offline stores for the same including Big Bazaar, Pantaloons, Spencer's, Heritage Fresh, Peter England, Allen Solly, Croma, The Mobile Store, Burger King and Pizza Hut.

"Paytm starts a new annual tradition of 12:12 in India. Go shop all around you and get cool offers," CEO Vijay Shekhar Sharma tweeted over the weekend. The 12 12 Cashfree Festival will be an annual event, he added.

"The 1212 Cashfree Festival is aimed at celebrating the inclusive power of mobile payments and commerce. It marks our commitment to work closely with the offline merchant community to ensure that the smallest of vendors can accept mobile payments at their stores at zero cost. Going forward, we will continue to celebrate the day as an annual al event that salutes the spirit of going cashfree," Sharma said in a statement.