Paytm has launched Food Wallet to provide tax saving opportunities for corporate employees. 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 KFC, Burger King, Zomato, Pizza Hut, CCD,Big Bazaar etc.
Food Wallet looks to target services such as Sodexo, Ticket Restaurant, by making the food allowance a digital affair preventing loss of coupons or expiry. Paytm Food Wallet will offer some exclusive deals, discounts, and cashback offers as well. Paytm is said to have partnered many online, physical, and small standalone outlets across the country for the Food Wallet.
Paytm CEO Vijay Shekhar Sharma said in twitter
About Paytm Food Wallet
Kiran Vasireddy (Senior Vice President of Paytm) gives an statement
“Paytm food wallet will revolutionise 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.”
In March, MobiKwik has announced the launch of its product ReMP which automates HR reimbursements like food, travel, and medical expenses for employees quickly and easily with the wallet.