Paytm takes lead in digital payment market.
Axis bank has the largest value share of mobile transactions with 17.2% but Paytm takes the lead in volumes with 22%. Paytm’s value share is only 0.25%. ICICI bank has 17.1% by value and 9.7% by volume. SBI’s volume has dropped to 19.5%. Paytm banks are only allowed to keep a balance of up to Rs 1 lakh in savings, however Paytm now has the option of Paytm payments bank. Many non-banks have entered the digital payment space like- Airtel payment bank, Fino payments bank, Paytm payments bank, Jio payments bank and Aditya Birla payments bank. These non-banks like Paytm have taken the lead in digital payment market and traditional banks are slowly losing their spot.
Source- Financial Express