<p>M-commerce platform Paytm on Tuesday (15 September) announced that it has introduced cashless payments in educational institutions. Users can now pay school fees & dues, cafeteria bills as well as buy uniforms, books and merchandise through the Paytm Wallet. <br><br>Paytm has tied up with several premium educational institutions in the country from pre-schools to colleges, including prestigious names such as IIT Mandi, Universal Education Trust, KN Modi University, Vidyamandir Classes, Made Easy, Career Launcher, Jamboree, Primus Public School, Bangalore, Swaminarayan Gurukul Vidyalaya and a few DPS to name some.<br><br>Vijay Shekhar Sharma, Founder & CEO, Paytm said, “Since this segment involves children, the advent of cashless purchases and payments obviates chances of theft and misplacement that often come with carrying cash. In line with our vision of a cashless economy & to serve the users well, we have enabled cashless payments in some of the most prominent educational institutions. Our aim is to grow this platform multifold in the next 6months. Going forward, we will also aggregate and offer various online courses on Paytm.”<br><br>Paytm is in advanced stage discussions with all leading IIT’s, IIM’s, central and state universities and will be completing the formal tie-ups soon. Institutes from metros as well as smaller towns are welcoming the idea.<br><br>According to the Paytm, there is immense potential in the education space. As per a Fitch report, the Indian education sector’s market size is estimated at $109.84 billion in FY15 which makes India the world’s third largest market for education by size.<br><br>(BW Online Bureau)</p>
