Paytm claims to cross 1.2 billion monthly digital payment transactions

Paytm, a digital payments company, reported on Monday that it has reached 1.2 billion monthly transactions, attributed to the development in offline payments and financial services. With a 15% month-over-month growth rate, the group announced to have the largest market share in offline merchant payments.

Paytm vice-president Mr. Narendra Yadav said, “Our financial services have been adopted and embraced by a large percentage of our customers who began their digital journey with Paytm. With our Paytm All-in-One Android POS devices and Soundbox, we've fuelled in the next wave of the digital payments revolution.” Paytm, which has > 150 million monthly active users, has reported that the majority of its account holders accept and use the platform's banking, lending, insurance, wealth, and other financial services.

Paytm Payments Bank has over 50% of merchant partners' bank accounts. Paytm for Business app has for over 17 million merchants who have adopted and supported its services.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.