Paytm Payments Gateway plans to facilitate Rs 6,000 crore transactions in 2021

By

Isabelle Crossley

Published
Dec 23, 2020

Digital payments and e-commerce business Paytm plans to facilitate Rs 6,000 crore ($901.9 million) in transactions through its Paytm Payments Gateway in 2021.

 
Paytm Payments Gateway announced on December 22 that it has joined forces with a number of mobile phone and DTH top-up retailers to enable cashless payments on bulk recharge buys from satellite television and telecom service distributors to add to its transactions. The business aims to tap into the move towards cashless payments, which has been further boosted by the ongoing pandemic. 
 
Paytm has already teamed up with Vodafone Idea Limited as its exclusive partner for retailer payments, the business said in a statement, the Press Trust of India reported. The partnership will save distributors time in collecting cash payments and depositing them in the bank, said the business. 

“Our Paytm PG empowers retailers all over the country to promote less cash transactions and digitise their operations,” said Paytm’s senior vice president, Abhay Sharma, the Press Trust of India reported.

“We aim to reduce the dependency of cash and time taken by distributors in collecting, reconciling, and depositing it in banks."