Digital financial services firm Paytm on February 28 said it achieved over 1.2 billion monthly transactions on its platform, driven by growth in offline payments and financial services.
“We have been promoting all digital payment methods giving multiple choices to consumers that have helped us in consolidating our leadership position. In fact, a large percentage of our users who started their digital journey with Paytm, have now adopted & embraced our financial services,” Narendra Yadav, Paytm vice-president, said.
Paytm, which has over 150 million monthly active users, said that its digital financial services had made deep inroads into the grassroots of the country and had been adopted by millions of Indians in small-town and rural India. The company currently offers services such as banking, insurance, credit cards and investing platforms for mutual funds, stocks, IPO and ETF.
Further, the company added that it had the highest market share in offline merchant payments with 15% M-o-M growth. “The company is innovating & refining its products including Paytm All-in-One QR, Paytm All-in-One Android POS, Soundbox, Paytm for Business app for over 17 million merchants who have embraced and endorsed its services,” it said.