Feb 15, 2017
Paytm an Indian payment and commerce company whose headquarters is in Noida,Uttar Pradesh affirms 5000 crores of transactions in January. Demonetisation has propelled the company to achieve great success.
Vijay Shekhar Sharma founder of the company said “We clocked ₹5,000 crores worth of transactions in January alone,that’s 200 million transactions in volume terms” to reporters on the sidelines of Nasscom India Leadership Summit.
From December to January there is an approx 12% of growth in transactions as far as MTD is considered. The offline transactions which was enabled just in the starting of last year has overtaken the online transactions of the company completely.
In the demonetisation phase of Indian population to either continue digitizing or liquid transactions Paytm has come in handy. It is a true battle of convenience and value. They are expecting to expand their process in more districts, 650 districts to be exact as compared to 450 in process now.
“Post November,our offline transactions have exceeded even our expectations. In January more than 65 percent of our transactions were offline” said Sharma.
Paytm has generated cashless economy in various departments to be precise and wallet system in the ecosystem. They cover unstructured categories like retailers,food shops,corner stores. Structured categories like Petrol pumps,tolls. They have covered Metros also. Energy,transportation and Communications are three big categories.