Paytm is seeing a massive growth after 500 & 1000 rupee Currency Demonetization by the Govt. of India.
The after effect of the demonetization move is getting really effective for Paytm day by day. Because the way their volume of business has increased/ is increasing constantly in the last few days, is just massive.
It has been reported that Paytm has touched a record number of transaction in a day, both from number’s & volume’s perspective.
The after effect of Demonetization is vivid across the country. But after this bold & effective step by the Government, Online Payment industry is seeing a huge growth.
Among all of the players in this vertical, Paytm is the front-runner, as per the record till now. The recent update is really astounding.
Paytm has touched a great height in terms of Transaction volume. According to the report, it has hit 5 million Transactions in a single day & processing over Rs. 24000 crores.
It is way ahead of any other companies of India in this vertical.
In the last few days, Paytm has got tremendous hike in their overall website traffic & the amount of money added to the account.
700% increase in traffic & 1000% increase in the volume of money added.
Previously the average number of transaction per user was 3/ week but now this number has gone up to 18.
So the recent message from Paytm has become highly successful that “Ab ATM Nahin, Pay Karo”!
Even their app download has been increased by 300%.
From all these data & report it’s pretty clear that, people are gradually understanding the real value of this type of platforms & they are utilising these in full swing.
As per report, currently more than 850,000 merchants (offline) across the country accept payment via Paytm.
So, this extraordinary movement by Govt. Of India is not only a big step for Digital India mission but this initiative will also boost the FinTech industry of India to a great extent.
Source: The Hindu