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SPOTLIGHT-

1. Paytm Food Wallet will help employers tackle reimbursements
2. It eliminates the need for physical coupons or expiry
3. It will offer employees cashbacks and exclusive deals

In a key move, Paytm has propelled another element called 'Sustenance Wallet' that hopes to help ventures exchange nourishment repayments to their representatives under a tax-exempt section in a cashless way. This hopes to target administrations like Sodexo and Ticket Restaurant, by making the sustenance stipend a computerized issue averting loss of coupons or expiry. Eminently, MobiKwik propelled a comparable administration back in March. 

With the Food Wallet, Paytm taps the Rs. 25,000 crore tax-exempt remittance showcase, with 12 million compensation returns recorded each year. The Food Wallet dwells inside the Paytm application, and it has a one of a kind interface which demonstrates the constant adjust, and furthermore gives a rundown of joined forces nourishment outlets in the region, in the Nearby component. Paytm says that some corporate workplaces have as of now began utilizing the Food Wallet, and it permits bosses to send cash to representatives living anyplace in the nation. Paytm CEO Vijay Shekhar Sharma likewise tweeted that the wallet will perceive your installments at a sustenance or refreshment outlet, and utilize the Food Wallet consequently at all collaborated places. 

It takes out the requirement for giving out physical massive coupons, making exchanges computerized. It works with outlets like KFC, Burger King, Zomato, Pizza Hut, Cafe Coffee Day and Big Bazaar among others. The Food Wallet will offer some restrictive arrangements, rebates, and cashback offers also, and Paytm is said to have joined forces numerous on the web, physical, and little independent outlets the nation over for the Food Wallet. 

Kiran Vasireddy, Senior Vice President, Paytm said in an announcement, "Paytm nourishment wallet will change the conventional supper voucher space and will profit all partners - businesses, workers and sustenance retailers. Corporate representatives can now pay for their sustenance and refreshments utilizing their versatile in a hurry and monitor all installments made on the application. This will offer awesome accommodation when contrasted with the conventional instruments like paper vouchers and will have tax breaks as well." 

MobiKwik reported a comparable component a month ago, and called it "ReMP" Employee Reimbursement Management Product. It additionally permits organizations to consistently mechanize their awkward worker repayments like sustenance, travel and therapeutic costs rapidly and effortlessly with the wallet, taking out the need to credit it to ledgers or giving out coupons.