1) Registers over 7 Mn transactions worth Rs. 120Cr in a day
2) Expands merchants network by 1.5 lakh offline merchants within days of demonetization taking the total to over 10 lakh merchants
India’s largest mobile payments and commerce platform,
Paytm announced today that it is registering over 7 million transactions worth Rs. 120Cr in a day as millions of consumers and merchants across the country try mobile payments on the Paytm payment platform for the first time. The company is currently doing more transactions than the combined average daily usage of Credit and Debit Cards in India.
Backed by a strong payment ecosystem of customers and merchants, Paytm was able to serve over 45mn users in last 10 days alone and over 5mn new users added since the demonetization drive. With offline transactions now contributing to over 65% of the overall business, the company has also expanded its merchant network by 150,000 additional merchants. This will ensure consumers have more shops in their neighborhood accepting Paytm than ever before.
Speaking on the announcement, Sudhanshu Gupta, Vice President – Paytm said, “From consumers being able to pay for a cup of coffee in metros, to farmers purchasing seeds using Paytm in Kurnool, we are witnessing an exponential increase in adoption of Paytm as a way to pay by both consumers and merchants alike. We are working around the clock to ensure we can enable users and merchants to complete everyday transactions seamlessly.”
Merchants across India can start accepting Paytm at zero extra cost. They have to simply log on to Paytm.com/business and fill an online form or give a missed call to +91 7210972109. The company has even waived off its 1% transaction fee for transferring money to the Bank for KYC-enabled merchants to facilitate this shift in merchant behavior.
Over 10 lakh offline merchants across India now accept Paytm as their preferred payment mode. Paytm is accepted everywhere including taxis, autos, petrol pumps, grocery shops, restaurants, coffee shops, multiplexes, parking, pharmacies, hospitals, kirana shops and many more. Paytm can also be used to pay at thousands of apps & websites for services like recharges and bill payments, movie tickets, travel bookings, food ordering and shopping. With its assertive focus on mobile payments, the company is inching closer to its aim of making cashless transactions a way of life across India.
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