Paytm launches 'Health Saathi' protection plan for its merchant partners

Noida-based One97 Communications (OCL) owned fintech Paytm has launched 'Paytm Health Saathi', a health and income protection plan for its merchant partners, according to the company's stock filing on June 3. The fintech said the new plan will be available on the 'Paytm for Business' app.

"The launch of 'Paytm Health Saathi' aims to safeguard the wellbeing of its merchants, ensuring their health and business continuity. With this service, Paytm continues to empower its merchant partners, bolstering their resilience, while democratising access to affordable coverage," the company said in the filing. Explaining the details of the plan, the company said it starts at just Rs 35 per month on a monthly subscription.

Paytm Health Saathi offers a range of services that includes unlimited doctor teleconsultation, and in-person doctor visits (OPD) within its partner network. It also includes income protection cover in the event of business interruptions due to accidents, natural calamities such as floods and fires, or strikes, as per the details in the filing. The company has partnered with MediBuddy providing additional benefits including discounts at leading pharmacies and on diagnostic tests.

Paytm spokesperson said, "This initiative is part of our mission to equip them with comprehensive and affordable coverage that supports their continued operations. By offering tailored solutions, aligned to their needs, we aim to strengthen the robust the support system we provide to our community of business owners." As per the company, since its launch in May, more than 3000 merchant partners have taken benefit of the 'Paytm Health Saathi' pilot programme. The business launched this tool for all of its merchants earlier this month after seeing early success.

Paytm is India's leading mobile payments and financial services distribution company.