Paytm, India’s largest mobile payments & commerce platform is firmly focussed on cementing its undisputed market leadership position in India. It has announced its target of leveraging its large merchant and consumer base to triple its daily mobile wallet transactions to 10 million.
Speaking on the target, Mr. Nitin Misra, VP – Products, Paytm said, “Paytm today has 120 million wallets and 1,50,000 merchants on its platform & this number will grow aggressively. Over the years we have built products & crafted use cases where both customer & merchant lifecycle feed into each other. This spans our payments, marketplace & the upcoming financial services business. Our strong analytics, product & operational capabilities backed by customer trust is what will help us reach 300 million transaction a month.”
Paytm is one of India’s most well established currencies for instant payments for taxi rides, mobile phone recharges, direct-to-home television subscriptions, money transfers, and transactions at small mom-and-pop stores. Many schools, colleges and petrol pumps have also joined the list of merchants where Paytm users can pay with Paytm. As Paytm heats up the intensity in the digital payments eco-system, it is also targeting expanding its user base to 500 million by 2020.
