After a busy year, Paytm crosses the one million download mark on Google Play Store

On December 27, Paytm’s payments app was downloaded for the one millionth time on the Google Play Store, a first for an Indian payments app, and a conclusion to a busy year for the business.

On December 27, Paytm’s payments app was downloaded for the one millionth time - Paytm- Facebook

First launched in March 2011, Paytm has become the largest Indian mobile- first digital payment service. This was consolidated on Wednesday as its payments app passed the one million download mark.

"We are overwhelmed with the 100 million downloads mark, reaching this milestone is a testimony to the efforts of the incredible team at Paytm," said Paytm’s Senior Vice President, Deepak Abbot. "This achievement will offer us a strong boost as we work towards our goal of making India a digital-first economy."

Paytm benefitted greatly this past year from the rise in digital payments across India that was brought about in large part due to demonetisation a year ago. Although there are still many that do not trust the safety of digital payments and prefer the cash on delivery payment option when shopping online, an overwhelming number of people have been converted to paying for goods online. The fashion e-commerce market continued to grow over 2017, remaining the second biggest online market after electronics, and Paytm Mall has had a strong fashion focus since its inception. With digital payments continuing to rise in popularity, Abbot’s goal of a digital economy could indeed be realised.

The mobile shopping app Paytm launched this year, Paytm Mall, was also named by the Google Play Store as their most popular app in India at the start of December. This year has been a busy one for Paytm but it will not be until the financial year draws to a close until how much money they really made becomes clear. 

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