Registering over 137 million UPI transactions in the month of September’18, One97 Communications Limited, that owns the brand Paytm, India’s largest payments company today announced that it is the leading contributor to UPI Payments contributing to over 33% of the overall transactions. The company is enabling & promoting BHIM UPI for offline payments and over 5 million offline merchants out of its 9.5 million merchant-base now accept Paytm UPI.
Paytm offers the most comprehensive payment use-cases as well as modes of payment on its app This has enabled customers to make payments using their preferred method including UPI, cards and wallet. More than 20% of all payments on Paytm are made using BHIM UPI with Mobile Recharge & payments, electricity & water bills and DTH recharges, among other payment use-cases witnessing the highest adoption rate. Additionally, Paytm BHIM UPI has been witnessing constant growth and has surpassed credit cards and net-banking for on-app and offline payments.
Deepak Abbot, Sr. Vice President – Paytm said, “Our country is embracing digital payments for their everyday use cases. Paytm has built an ecosystem where users can make payments for various services such as mobile recharges, electricity & water bills, metro commute and also at the offline stores. It is encouraging to see the widespread adoption of Paytm BHIM UPI as it is fast becoming a preferred payment method for millions of users making us the leader in UPI payments. We will continue to invest our efforts to introduce more consumers and merchants to the convenience of Paytm UPI for online and offline use cases.”