In the month of March 2021, Paytm Payments Bank Ltd (PPBL) registered over 970 million digital transactions, making it the top enabler of digital payments in the country. PPBL is now opening on an average of 1 million savings and current accounts a month, stated the bank.
With over 64 million accounts, the bank's total deposits have crossed over Rs 3,200 crore. This growth is mainly supported by growth in transactions on Paytm Wallet, Paytm FASTag, Paytm UPI, and internet banking over the last several quarters.
PPBL continues to be the largest beneficiary bank for UPI transactions and registers the highest success rate in the industry, the bank claimed. The NPCI data also reveals that it has the lowest technical decline rate at 0.11 per cent among all UPI remitter banks and 0.04 per cent among all UPI beneficiary banks. In addition, Paytm Wallet has consolidated its position as the leading digital payments service with 325 million wallet accounts.
Satish Kumar Gupta, CEO and Managing Director, Paytm Payments Bank Ltd said, “Our leadership in digital banking and payments is a testimony to the trust that the whole country has shown in our services. We will continue to empower more merchants across the country to join the digital payment ecosystem and benefit from our innovative & personalized offerings. We are committed to playing a key role in building Atmanirbhar Bharat."