Paytm Recap 2023: 912 Cr merchant transactions made via Paytm in Q2FY24, Delhi makes the most payments between 12-6 AM

One97 Communications Limited (OCL) that owns the brand Paytm, India's leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, today announced the release of Paytm's 2023 Recap. The Recap showcases a year of leadership in payments and incredible user engagement on its app. Users can also check their individual payments journey with Paytm in 2023 through paytm.com/recap.

Paytm continues to strengthen its leadership in in-store payments, with more than 92 Lakh Paytm pioneered devices such as Soundbox, Card Machines, etc in the quarter ending Sep 2023. A whopping 912 crore merchant payments were made using Paytm in Q2FY24. Paytm was the first to launch QR code based payments, and instant audio confirmations with Soundbox device. This year, the company launched three new Paytm Soundbox devices for merchants - Pocket Soundbox, Music Soundbox, and Card Soundbox, leading technology for India's small shops.

An intriguing observation is that the maximum number of payments have been done on Saturday, making it the busiest day in the week for digital transactions. When it comes to making most payments between 12 to 6 AM, Delhi emerged as Paytm's night owl, outshining cities like Hyderabad, Bangalore, Chennai, and Goa.

The company's report shows the widespread adoption of Paytm pioneered QR codes and said that if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars.

The company is taking digital payments far and wide, driving financial inclusion as it is being embraced by farthest corners of the country, with users from places like Dharwas in Himachal Pradesh and Laitmawsiang in Meghalaya making Paytm Karo, an integral part of their lives.

Engaging observations have been witnessed during the year, with ₹20 being the most common amount paid by the Paytm users. Facilitating the payment of over 55 lakhs challans worth a staggering ₹179+ crore, the company provided users with a convenient way to settle fines and dues.

During the year, users made payments to our strong merchant base of 3.75 crore, across the country, supporting businesses of all sizes.

Paytm Spokesperson said, "As the pioneer of QR code, soundbox and mobile payments in India, we continue to see widespread acceptance of Paytm, with increased adoption among both consumers and merchants. In 2023, we achieved new milestones and further cemented our leadership in payments. We continue to lead technology for India's small shops and remain focused on driving financial inclusion in India."

Source : Equity Bulls

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One97Communications Paytm 2023Recap