Digital payments services firm Paytm said its payment gateway now registers 750 million transactions on a monthly basis.
The company said that payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI, have contributed about 60 per cent to the total transactions registered on the gateway.
Paytm PostPaid and EMI services which were launched last year have continued to gain popularity with users and are registering 25 per cent month-on-month growth, the company said in a statement.
"We are the leading providers of payment gateway services and take pride in enabling millions of businesses to automate and centralise their payment processes. Our systems have the capacity to manage up to 2,500 transactions per second which ensure stability when our enterprise merchants see spikes during special events and sales," Paytm senior vice president Praveen Sharma said.
According to the latest RedSeer report on digital payments in India, Paytm Gateway is the fastest growing payment gateway with over 42 per cent market share, the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU