Paytm has reported a growth of 600 percent in the UPI transactions in the last six months, claiming itself to be the largest contributor to the volume of UPI payments in India. In the month of October, it registered more than 179 million UPI transactions, capturing an overall 37 percent transaction share in during the month.
“It is encouraging to see the widespread adoption of Paytm BHIM UPI for various services such as mobile recharges, electricity and water bills, metro commute and also at the offline stores. We appreciate BHIM UPI, for its contribution and facilitation of seamless digital payments in the country. We will continue investing our efforts towards increasing its adoption,” said Deepak Abbot, senior vice-president, Paytm.
As per the National Payments Corporation of India (NPCI), around 482.36 million UPI transactions worth Rs 74,978.27 were reported in October, an increase of 18.8 percent from September. The total number of UPI transactions reported in September was 405.87 million.
Paytm reveals that in the last six months, the majority of payments were made via Paytm BHIM UPI for paying electricity bills, water bill, mobile recharges DTH recharges and several others.