Paytm witnesses 3X growth during ‘12.12 Festival’

Digital payments platform Paytm has claimed that its sales grew three times with 1.5x increase in a single-day revenue during its recently concluded ’12.12 festival event.

12.12 is the flagship event of Paytm, which aims to boost offline digital sales of its 5 million merchant base across the country. In the second edition of the event, the digital payments firm had partnered with leading Indian brands across all categories.
The company in a statement said that large retail brands like Big Bazaar, Pantaloons, Central, Woodland, and Reliance Digital amongst others helped give a boost to its single day revenue and also helped Paytm acquire new customers.
Paytm further said that the shopping festival helped retailers especially in metros and tier II cities grow its businesses multi-fold. Delhi, Pune, Ahmedabad, Bangalore, Hyderabad, Jaipur, Indore, Lucknow, Chandigarh, Coimbatore, and Kolkata were some cities that saw tremendous response to the festival according to the company.
Kiran Vasireddy, COO at Paytm said, “Paytm has become a preferred choice for in-store mobile payments in the country. The ‘12.12 Festival’ successfully drove high footfalls and transactions for our millions of offline retail partners through mobile payments.
“The excitement around this event from both consumers and merchants are overwhelming, and we will continue to strengthen our relationship with the country’s retailer community with many such initiatives,” he added.

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