Paytm records Rs 912 crore surge in merchant transactions in Q2FY24

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Image Source : FILE Paytm records Rs 912 crore surge in merchant transactions in Q2FY24

In the remarkable Q2FY24 update, One97 Communications Limited (OCL), the parent company of Paytm, pioneering QR codes, soundbox, and mobile payments in India, has announced an astounding 912 crore merchant payments through the leading financial and payments platform. The ‘Paytm Recap 2023’ report has highlighted Delhi’s prominence in early-morning transactions, surpassing cities like Bengaluru, Hyderabad, Goa and Chennai.

The recap not only highlights the leadership of the year in payments but it also celebrates the impressive user engagement on the Paytm app.

A spokesperson for Paytm, known for pioneering QR codes, soundbox, and mobile payments in India, has emphasized the widespread acceptance of Paytm, with increased adoption among both merchants and consumers.

The spokesperson said, “In 2023, we achieved new milestones and further cemented our leadership in payments. We continue to lead technology for India’s small shops and remain focused on driving financial inclusion in India.”

The platform facilitated over 55 lakh challans, amounting to a staggering Rs 179+ crore, providing users with a convenient way to settle dues.

Paytm further continues to strengthen its dominance in in-store payments, boasting more than 92 lakh Paytm-pioneered devices, including Card Machines and Soundbox, in the quarter ending September 2023.

The company has credited the introduction of QR code-based payments and instant audio confirmation with the Soundbox device and expanded its offerings with the launch of three new Paytm Soundbox devices for merchants.

An interesting trend highlighted by the company is the peak in payments occurring on Saturdays, making it the busiest day of the week for digital transactions. Even in remote areas like Dharwas in Himachal Pradesh and Laitmawsiang in Meghalaya, ‘Paytm Karo’ has become an integral part of users’ lives. Paytm’s ongoing success reflects its commitment to innovation, user convenience, and financial inclusivity in the ever-evolving digital landscape.

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Paytm records Rs 912 crore surge in merchant transactions in Q2FY24

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