CEO Insights India

Paytm continues to be the largest contributor to UPI Payments in India with the recent 600 percent growth in UPI transactions in the last six months. Over 179 million UPI transactions have been registered in the

month of October 2018, the company boasts with the highest concentration of nation-wide UPI users on its platform.

Deepak Abbot, SVP, Paytm, comments, “It is encouraging to see the widespread adoption of Paytm BHIM UPI for various services such as mobile recharges, electricity & water bills, metro commute and also at the offline stores. We appreciate BHIM UPI, for its contribution & facilitation of seamless digital payments in the country. We will continue investing our efforts towards increasing its adoption”.

Majority of all the payments on Paytm are made using Paytm BHIM UPI, which is fast becoming the preferred mode of payment among users. It also has the most comprehensive list of payment use-cases on its platform and enables customers to make payments using the desired methods. Apart from online, the company also enabled offline payments with over six million offline merchants accepting Paytm UPI for various purchases.

Owned by One97 Communications, this Noida-based company offers an array of services including mobile recharges, bill payments, along with a full marketplace to consumers on its mobile apps. Investors include SAIF Partners, Sapphire Ventures and Saama Capital and Ant Financial (Alipay).