The covid pandemic has increased the digital payment growth to a next level where customers are choosing digital payment as per the situation .
Bengaluru : First mover digital payment giant ,Paytm transacted a close to 750 million transactions a month surpass own pre covid level to a new height.
One97 Communications Ltd’s owned Paytm business model has accelerated the growth not only to its business but also fueled growth in entire industry and economy.
Paytm Payment Gateway processes payments from Paytm Payments Bank-issued instruments such as Paytm Wallet; repayments for its credit business, Paytm PostPaid, Paytm Gift Vouchers, along with standard payment methods such as Unified Payments Interface (UPI), net banking, as well as debit and credit card transactions.
“Our systems have the capacity to manage up to 2,500 transactions per second. This ensures stability when our enterprise merchants see spikes during special events and sales. We will continue to launch new solutions that make business processes simpler, flexible and more efficient,” said Praveen Sharma, senior vice president at Paytm.
The adoption of payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI, have contributed about 60% to the total transactions registered on Paytm payments gateway, the company said.
The transaction of accelerating the growth to 750 million a month is contributed by Mobile Recharge, Mobile Bill Payment., Datacard Recharge, Datacard Bill Payment, Dth Recharge, Electricity Bill Payment, Landline Bill Payment, Broadband Bill Payment, Gas Bill Payment, Water Bill Payment, Metro Card Recharge, Municipal Recharge,Toll Recharge, Pay Loan EMI,Pay Insurance Premium, Credit Bill Payment, Cabletv Recharge, Devotion, Rental Bill Payment,Fastag Recharge, Movie Ticket Booking, Bus Ticket Booking, Flight Tickets Booking,Train Ticket Booking,Events Booking,Amusement Parks Booking,Upcoming Movies, Mutual Fund Investments.
Paytm, the largest market share of over 50% in digital payment category.
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