Paytm surpasses average credit and debit card transactions in India

Paytm announced today that it is registering over 7 milliontransactions worth Rs 120 crore in a day as millions of consumers and merchantsacross the country try mobile payments on the Paytm payment platform for thefirst time.

The company is currently doing more transactions than thecombined average daily usage of credit and debit cards in India.

Paytm claims to serve over 45million users in last 10 daysalone and over 5million new users added since the demonetization drive.

With offline transactions now contributing to over 65% ofthe overall business, the company has also expanded its merchant network by150,000 additional merchants.

Speaking on the announcement, Sudhanshu Gupta, VicePresident - Paytm said, "From consumers being able to pay for a cup ofcoffee in metros, to farmers purchasing seeds using Paytm in Kurnool, we arewitnessing an exponential increase in adoption of Paytm as a way to pay by bothconsumers and merchants alike."

Merchants across India can start accepting Paytm at zeroextra cost. They have to simply log on to Paytm.com/business and fill an onlineform or give a missed call to +91 7210972109.

The company has even waived off its 1% transaction fee fortransferring money to the Bank for KYC-enabled merchants to facilitate thisshift in merchant behaviour.

Over 10 lakh offline merchants across India now accept Paytmas their preferred payment mode.

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