Paytm hits gross transaction value of $50B through 5.5 billion transactions

Paytm hits gross transaction value of $50B through 5.5 billion transactions

Paytm hits gross transaction value of $50B through 5.5 billion transactionsPaytm hits gross transaction value of $50B through 5.5 billion transactionsDigital payments leader Paytm said it had hit a gross transaction value of $50 billion through 5.5 billion transactions in the previous financial year.ET Tech | Jun 5, 2019, 02:32PM ISTDigital payments leader Paytm said it had hit a gross transaction value of $50 billion through 5.5 billion transactions in the previous financial year.

It has targeted more than two-fold growth this year and is aiming to cross 12 billion transactions by the end of the current financial year.

The company attributed the growth to widespread adoption across retail payments, utility payments, travel booking, games and others. Further, it said that Paytm First has pushed customer retention and increased transactions.

Recently, the SoftBank and Alibaba backed company said that it has crossed more than 400 million monthly transactions for its payment gateway business.

ET reported on Tuesday that Paytm’s UPI-based payments fell to around 200 million transactions in May, against more than 240 million for Google Pay.

“Our secure payments solutions are trusted by millions across all age groups for day-to-day needs and our adoption has been consistently on the rise. We are focused on developing tech-driven solutions, integrated customer life cycle management, enhancing user experience and expanding to tier four to five cities,” said Deepak Abbot, senior vice president, Paytm.

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