Paytm, the payment gateway platform, sees its business observing close to 750 million transactions done in a month, beating old records of pre-covid times, said the leading digital payment giant.
During the covid times, people shifted towards online transactions, fueling the growth of the transactions.
Paytm Payment Gateway facilitates the transactions through Paytm Payments Bank-issued instruments like Paytm Wallet, Paytm Gift Vouchers, Paytm PostPaid. Besides, the money can be transferred through Unified Payments Interface (UPI), net banking, and debit and credit card.
In a statement to the Mint, Praveen Sharma, Paytm Senior Vice-President said, “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.”
The company mentioned, customers who are adopting payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI, are contributing around 60% to the total transactions registered on Paytm payments gateway.
Earlier this month, Mint reported that Paytm processes 1 billion transactions across all platforms consecutively for two months in February.
Close to 17 million merchants subscribe to Paytm services, the company claimed. It offers a range of services to merchants like All-in-One QR, Paytm All-in-One Android POS, Soundbox, and Paytm for Business app.
In terms of active users, More than 150 million monthly active users, the company claimed.
As per the report of Mint, Narendra Yadav, Vice President at Paytm on Paytm 1 billion transactions, said, “We have been promoting all digital payment methods giving multiple choices to consumers, which has helped us consolidate our leadership position. A large percentage of our users who started their digital journey with Paytm has now adopted our financial services. We introduced the country to innovative QR technology that empowered millions of small shopkeepers with digital payments”.
Now, Payment Gateway shares that more than 42% of its business partners have opted for creating and sharing payments links and invoices on its platform. Paytm Payment Gateway has clients like Indian Railway Catering and Tourism Corporation, Zomato, Uber, Jio, Oyo, Swiggy, BigBasket, using its services.