Tuesday , March 26 2019

Paytm Says It’s Confident of Topping Total Card Transactions in India

Paytm is so happy with its growing sales and said that they are confident in getting more and more card transactions in India.


With about 8.5 million daily transactions on its podium, Paytm on Thursday conveyed confidence that the digital payment firm will soon go beyond the collective transaction volume for cards in the nation.

The Alibaba supported company said it has also grasped a multi-fold rise in its user base after demonetization in the month of November.

“In January or February till yesterday, daily we are having about 8.5 million transactions. When I speak to the card network businesses in the nation, each bank, every single card (credit and debit) network united, the number touched about 10 million,” the company founder and CEO Vijay Shekhar Sharma said at the India Digital Conference.

He also said that “Paytm soon expectantly would take over”. Mobile wallet firms like Paytm and MobiKwik have perceived manifold development in transactions and new users impending on board, with people spinning to digital platforms in a big way.

“We have perceived a 5-fold upsurge in users in December-January and January-February, persons who have used it start to get curved on and the network effect lasts,” Sharma said.

Inquired about competitors claiming Chinese association of Paytm Payments Bank, he said Paytm will “never stoop so low”.

“We will never bend down so low and speak about others. When people start differing you, you should comprehend that you are going far ahead in your trip,” he said.


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