scorecardresearch
Follow Us:
Friday, April 16, 2021

Paytm confident of topping total card transactions

Mobile wallet companies like Paytm and MobiKwik have seen mani-fold growth in transactions and new users coming on board, with people turning to digital platforms in a big way.

By: PTI | New Delhi |
February 9, 2017 9:42:16 pm

With 8.5 million daily transactions on its platform, Paytm today exuded confidence that the digital payment company will soon overtake the cumulative transaction volume for cards in the country. The Alibaba-backed company said it has also seen a multi-fold rise in its userbase post demonetisation in November.

“… in January or February till yesterday, on a day we at Paytm are doing 8.5 million transactions. When I talk to the card network companies in the country, every bank, every card (credit and debit) network combined, the number touched 10 million,” Paytm founder and CEO Vijay Shekhar Sharma said at the India Digital Summit.

Watch what else is making news

He added that “Paytm soon hopefully would take over”.

Mobile wallet companies like Paytm and MobiKwik have seen mani-fold growth in transactions and new users coming on board, with people turning to digital platforms in a big way.

“We have seen a 5-fold increase in users in December-January and January-February, people who have used it start to get hooked on and the network effect continues,” Sharma said.

Asked about competitors alleging Chinese affiliation of Paytm Payments Bank, he said Paytm will “never stoop so low”.

“We will never stoop so low and talk about others. When people start opposing you, you should understand that you are going far ahead in your journey,” he said.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
Advertisement
Advertisement
Advertisement
Advertisement
x