Paytm Breaches 100 Crore Transactions, 2nd Month In Row; 600,000 Villages Now Using Paytm
Paytm has now reached a new record – the digital payments platform has surpassed 1 billion in monthly transactions. This amount has been recorded for the second successive month in February.
Read on to find out more about the new payment records set by Paytm!
Paytm Records 100 Crore Transactions For Second Month Straight In February
Indian e-commerce payment system and financial technology company, Paytm, has now exceeded 1 billion in monthly transactions through the company’s unified payments interface (UPI), wallet, cards, and net-banking payment methods.
This record has been set by the company for the second month straight in February.
Paytm has reportedly seen 15% growth in month-on-month transactions and has said that the scale in payments is based on the financial services and offline products for merchants
As per reports, 17 million merchants have subscribed to its services. There are multiple services offered to merchants, which include, All-in-One QR, Paytm All-in-One Android POS, Soundbox, and Paytm for Business app. There are more than 150 million monthly active users.
As per Narendra Yadav, vice president, Paytm, “A large percentage of our users who started their digital journey with Paytm has now adopted our financial services. We introduced the country to innovative QR technology that empowered millions of small shopkeepers with digital payments.”
He also has said that the company has been promoting all digital payment methods and has given multiple choices to consumers. Apparently, this has helped the company consolidated its leadership position.
More Than 600,000 Villages Empowered By Paytm
Paytm has reportedly empowered more than 600,000 villages with digital payments. As much as 2 million merchants in these villages have been trained in the proliferation of online transactions.
There are multiple financial services offered by the company, including Paytm Payments Bank, wealth management solution Paytm Money, Paytm Insurance, consumer lending solution Paytm Postpaid, and Paytm Credit Cards.
It was recently reported that Mobikwik and Paytm share a combined share of the remaining market share of 20%.
The Paytm Payments Bank has also recently announced that it has won 82 per cent of dispute cases on behalf of FASTag users with toll plazas in 2020. The company has reportedly facilitated a refund of toll charges that have been incorrectly deducted from their accounts.