Paytm is marching ahead with over $1 Bn transactions per quarter. The digital payment giant’s Gross Transaction Value increased by 400% annualized, hitting the $20 Bn mark in Feb 2018, against $5 Bn in March 2017.
Speaking about the achievement, Paytm’s COO Kiran Vasireddy said, ‘processing over 1 Bn transactions per quarter tells how diverse, and widespread we are. We brought Paytm services even in traffic challans, educational system, parking, and many more’.
Currently, there are 7 million offline merchants accepting payments using Paytm QR. Paytm services are available in over 3000 cities and towns. More than 5000 educational institutions are accepting payment through Paytm QR code currently.
According to Kiran Vasireddy, ‘with Paytm, merchants can directly receive their payments (via card, bank, Paytm) in their bank accounts at 0% fee. The company will continue to invest until we reach every nook and corner of the country’.
Started in August 2010, the company currently employs 13,000 employees. The company has also launched Paytm Canada in March 2017, expanding its services to the North American nation.