Paytm looks to double business in Tamil Nadu, Kerala this year

By

Maverick Martins

Published
Jan 23, 2020

​Digital payments firm Paytm, owned by One97 Communications Ltd, has increased its focus on south India, and plans to double its business in the region in 2020.
 

The company will continue to focus on states like Tamil Nadu and Kerala for future growth in the region.
 
Paytm recently launched its all-in-one QR Code facility enabling merchants to accept unlimited payments through the company's wallet, Rupay Cards and UPI (unified payments interface) in these states.

“The company has set a target to achieve more than double business growth in Tamil Nadu and Kerala within a year. Tamil Nadu and Kerala have witnessed a 50 percent business growth last year and we expect significant growth in digital adoption from this region in 2020,” Paytm’s senior vice-president Saurabh Sharma was quoted as saying by PTI.
 
"With the addition of All-in-One QR to this application, we will support the merchants products. We will continue to add new-age banking and financial products to our Paytm for business application," he added.
 
Last year, Paytm had raised over $1 billion (Rs 7,000) funds to expand its presence in the Indian market and acquisition of new customers and merchants in small towns.
 
The company has already started investing in merchant solutions for a deeper engagement beyond payments. It recently onboarded merchants from the eastern region and will continue to tap unexplored regions in the coming months.