Published
Sep 3, 2018
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Paytm reports growth with 290 billion transactions in August

Published
Sep 3, 2018

Paytm, the Indian digital payments business, registered a total of 92 million customers using the platform in August and 290 billion transactions across all of its verticals.

Paytm has registered a total of 92 million customers using the platform in August and 290 billion transactions across all of its verticals - Paytm- Facebook


Paytm has also announced that 1 billion monthly sessions took place in August, which comprises customers logging into the Paytm app and making payments or money transfers.

“Our team has been aggressively engaged in introducing new use cases such as apartment maintenance payments, municipal payments, toll, insurance and donations,” Paytm’s senior vice-president Deepak Abbot told ET Bureau.

Abbot also mentioned that, although Unified Payments Interface is emerging as a major digital platform across India, it is only one of Paytm’s multiple payment options. Offline payments through Paytm have also grown, especially through Paytm’s use of QR codes at merchant outlets, said Abbot. Paytm has reported a daily total of 30,000 requests for integration from merchants and has drawn in 8.5 million offline merchants.

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

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