Monday, October 25, 2021
HomeTechnologyPaytm leads digital payment services with over 1.4 billion transactions in March.

Paytm leads digital payment services with over 1.4 billion transactions in March.

Paytm, India’s most popular digital financial services platform, announced on Thursday that it had completed over 1.4 billion monthly transactions in March, owing to a surge in offline payments and financial services.

According to Paytm vice president Narendra Yadav, the company processed about 1,275 million digital transactions through its payment gateway, which is 30-50 percent more than the industry’s leading competitors.

Paytm’s market capitalization is 30 to 50 percent higher than that of its competitors. According to news agency PTI, China dominates digital payments with over 1.2 billion monthly transactions, owing to growth in merchant payments.

Paytm claims to have processed 1,275 million of the 3,584.13 million digital financial transactions recorded by the National Payments Corporation of India (NPCI) in February.

ALSO CHECK: Get a tremendous discount with Tatacliq Coupons and  1mg Coupon Code

“Paytm is the only company that offers the most options to both merchants and consumers,” Yadav said, “which has helped us achieve over 1.4 billion monthly transactions.” Paytm wallet, UPI, postpaid, credit or debit cards, and bank accounts are all options for customers. Similarly, merchants can accept payments from any bank account or their wallet. With over 20 million merchant partners, Paytm has the largest network of merchants in the country. “As we continue our efforts to empower them with IoT-based digital payment services, we want to support a wide range of merchants, from street vendors to large retailers.”

Yadav went on to say that the business is now concentrating on merchant payments, which account for 70% of digital transactions on its platform and help it monetize other goods and services.

“Rather than peer-to-peer transactions, we encourage merchant payments. It’s simple to create revenue models based on merchant payments. In 2018, we chose to concentrate on merchant payments rather than incentivize peer-to-peer transactions, and that decision has helped us increase our revenue “Yadav went on to say.

Paytm said it wants to equip 5 million businesses with Paytm Soundbox 2.0, Paytm All-in-One EDC systems, and its new Paytm Smart POS for Android phones, which turns a smartphone into a system that accepts debit and credit card payments just like a conventional card swiping machine.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

PhonePe Big news! Charges increased for UPI Payment, know why

Digital payment app, PhonePe has recently announced that it will now charge a special processing fee on its UPI and credit card transactions. Testing...

Take advantage of the ‘Buy Now Pay Later’ option to relieve the stress of holiday shopping

Companies give loans for purchases under the 'Buy Now Pay Later' programme. It's a good choice for people who don't have a credit card...

Paytm Offer: Win up to Rs 1 lakh with Paytm! Paytm is offering a lot of rewards throughout the holiday season

Paytm is offering a chance to win a million rupees. Paytm is concentrating its efforts in Gujarat, Maharashtra, Andhra Pradesh, Telangana, and Karnataka as...

Book gas cylinders for cooking and get gold in exchange over the Festive Season

The Paytm Navratri Gold Offer began on October 7th and will be accessible through October 16th. Buyers can book cylinders online and win gold...

FASTag will provide not just toll but also parking services, and Paytm will begin service with DMRC

Paytm FASTag Parking: At Delhi's Kashmere Gate metro station, Paytm has launched a FASTag-based parking service. For cars with valid FASTag stickers, Paytm Payments...

Subscribe

* indicates required