Paytm claims to cross 1.2 billion monthly digital payment transactions

Digital payments firm Paytm on Monday said that it has crossed 1.2 billion monthly transactions driven by high growth in offline paymentsand financial services. The company said that it maintains the highest market share in offline merchant payments with 15 per cent month-on-month growth.

"A large percentage of our users who started their digital journey with Paytm, have now adopted & embraced our financial services. advancements we have now brought in the next wave of digital payments revolution with our Paytm All-in-One Android POS devices & Soundbox," Paytm vice-president Narendra Yadav said in a statement. Paytm, which has over 150 million monthly active users has witnessed that the majority of its account holders embrace and adopt banking, lending, insurance, wealth and other financial services on the platform.

Over 50 per cent of merchant partners hold a bank account with Paytm Payments Bank. "Paytm for Business app for over 17 million merchants who have embraced and endorsed its services," the statement said.