Paytm logs 1.2B transactions in Feb, grows 15%

Paytm

New Delhi, (Asian independent) Paytm said on Monday that it achieved over 1.2 billion transactions in February across its Wallet, UPI, cards and net banking payment methods, logging 15 per cent growth (month-on-month).

The company which has over 15 crore monthly active users, said it has created a robust technology infrastructure across 99 per cent pin codes with reach spreading across the farthest corners of the country.

“By incorporating technological advancements, we have now brought in the next wave of digital payments revolution with our Paytm All-in-One Android POS devices and Soundbox,” said Narendra Yadav, Vice President, Paytm.

“Street hawkers, small shopkeepers have been adopting our Soundbox that has helped in building trust over digital payments as now they get confirmation on every payment they get,” Yadav added.

Paytm said it is refining its products for over 17 million merchants.

The company now empowers over six lakh villages in India with digital payments and has trained over 20 lakh merchants in these villages, helping in the proliferation of online transactions.

Over 50 per cent of merchant partners hold an account Paytm Payments Bank and benefit from its new-age digital banking services.

“Another popular service is Paytm Postpaid, which provides micro-credit and has already achieved over seven million users within six months of launch, the company informed.