Paytm Capitalises on Digital Payments: Registers 5 Billion Transactions Valued At $50 billion A Year

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Source : Shop Pirate

India’s biggest digital payments service provider, Paytm has clocked 5 billion transactions a year having a value of $ 50 billion transactions on a annual basis. This has been largely attributed to the increased adoption of digital payments in the tier 2 and tier 3 cities that comprise of 50 % of its total user base. Paytm’s multilingual app is another contributing factor in the increased usage of vernacular languages on the app. 25 % of the users prefer using the app in their native language with Hindi ruling the roost.

Today, Paytm is the biggest contributor in digital payment categories such as UPI, wallet and cards and is fast becoming the most viable option to netbanking.

Furthermore, the increased transactions is also attributed to increased usage by women whose base has grown by more than 100% with millennial females accounting to be the most active users of digital payments.

Source : www.financialexpress.com

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