About Paytm

Paytm, the country’s largest digital payments company, handled 290-billion transactions in August through money transfers across all its verticals, with 92 million customers using the platform.

The company also said it was registering more than 1 billion monthly sessions by users logging into the application for payments and money transfers. “Our team has been aggressively engaged in introducing new use cases such as apartment maintenance payments, municipal payments, toll, insurance and donations,” said senior vice-president Deepak Abbot.

In the context of the Unified Payments Interface emerging as a major digital platform across the country, Abbot said UPI is just one among multiple payment railroads for Paytm.

Offline transactions, too, have registered strong growth on the platform, mainly driven by Paytm’s strategy of installing QR codes at merchant outlets. The company said it has onboarded 8.5 million offline merchants and receives more than 30,000 requests for integration from merchants every day.

“We have also witnessed huge traction for ‘money transfers,’ where users send money to each other with their preferred payment modes. We are the largest money-transfer platform and will continue to build more and more convenient payment solutions,” said Abbot.