Paytm announced today that it is registering over 7 million transactions worth Rs 120 crore in a day as millions of consumers and merchants across the country try mobile payments on the Paytm payment platform for the first time.
The company is currently doing more transactions than the combined average daily usage of credit and debit cards in India.
Paytm claims to serve over 45million users in last 10 days alone and over 5million new users added since the demonetization drive.
With offline transactions now contributing to over 65% of the overall business, the company has also expanded its merchant network by 150,000 additional merchants.
Speaking on the announcement, Sudhanshu Gupta, Vice President – Paytm said, “From consumers being able to pay for a cup of coffee in metros, to farmers purchasing seeds using Paytm in Kurnool, we are witnessing an exponential increase in adoption of Paytm as a way to pay by both consumers and merchants alike.”
Merchants across India can start accepting Paytm at zero extra cost. They have to simply log on to Paytm.com/business and fill an online form or give a missed call to +91 7210972109.
The company has even waived off its 1% transaction fee for transferring money to the Bank for KYC-enabled merchants to facilitate this shift in merchant behaviour.
Over 10 lakh offline merchants across India now accept Paytm as their preferred payment mode.
Source by businesstoday…