Paytm Payment Gateway records 750 million monthly transactions, crosses pre-COVID mark: Report

Adoption of payments instruments by Paytm Payments Bank including Paytm Wallet drove around 60 percent of the platform’s total registered transactions

Moneycontrol News
March 22, 2021 / 10:29 AM IST

The coronavirus pandemic has pushed digital transactions and online payments

Paytm Payments Gateway processed 750 million monthly transactions, higher than pre-COVID levels. This comes as the coronavirus pandemic has pushed digital transactions and online payments, Mint reported.

The payments gateway business processes transactions conducted from Paytm Gift Vouchers, Paytm PostPaid, and Paytm Wallet, and payments are done via debit and credit card, net banking, and unified payments interface (UPI), it added.

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According to the company, the adoption of payment instruments by Paytm Payments Bank including Paytm Wallet drove around 60 percent of the platform’s total registered transactions.

Further, more than 42 percent of its partners have now begun creating and sharing payment links and invoices on the platform.

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Praveen Sharma, senior vice president at Paytm told the paper that the company maintained stability in services for its enterprise merchants even with the spike in transactions during special events and sales.

“Our systems have the capacity to manage up to 2,500 transactions per second and this ensures stability. We will continue to launch new solutions to make business processes simpler, flexible, and more efficient," he added.

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Moneycontrol News
TAGS: #Business #coronavirus #digital transactions #online payments #PayTm #transactions
first published: Mar 22, 2021 09:43 am