One of India’s leading e-commerce platforms Paytm has announced that in the last one year it has processed more than 400 million transactions every month clocking a three-fold growth.
The payment firm clocked higher gross volume and value transactions than its biggest rivals PayU and Razorpay. Paytm, without disclosing the value of the transactions, processed five-time more transactions than its nearest competitor, the company said in a release.
“We continue to witness impressive growth in transactions through the Paytm Payment Gateway across fast growing categories such as transportation, food delivery, gaming as well as travel and telecom,” a company said in a statement.
At present, Nasper-backed PayU processes reportedly around 100-120 million transactions whereas Razorpay has not made its number public. Though, Razorpay claims to add new merchants at the rate of almost 20% per month and witnessing a 15% growth in gross payments.