Paytm processes 970 million digital transactions in March: Report

Paytm Payments Bank Ltd (PPBL), the top enabler of digital payments in the country, has registered over 970 million digital transactions in March, the company said on April 13.

Paytm Payments Bank 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 percent among all UPI remitter banks and 0.04 percent 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."

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