India’s leading digital financial services platform Paytm has today announced that it’s ‘All-in-One Payment Gateway’ is the largest processor of business payments and now registers over 750Mn monthly transactions, driven by the increasing adoption of online payments for sectors such as BFSI, retail & D2C e-commerce, utilities, edTech, food delivery, digital entertainment, gaming and online shift of businesses during and post covid times.
The Paytm Payment Gateway’s transaction volume has long surpassed pre-covid levels. What has further accelerated this adoption is the most number of payment sources Paytm PG offers than any other player in the market. This includes Paytm & Paytm Payments Bank Issued Instruments such as Paytm Wallet, Paytm PostPaid, Paytm Gift Vouchers, and Loyalty Points in addition to the standard payment methods such as UPI, net banking, all debit and credit cards.
Paytm Payment Gateway’s growth is also fuelled by offering UPI and Rupay transactions completely free for online businesses, SMBs and large enterprises. It is the only platform that does not levy any charges on UPI & Rupay transactions nor circumvent any guidelines by levying such charges. The ever increasing adoption of payment instruments issued by Paytm Payments Bank, including Paytm Wallet and Paytm UPI have contributed about 60% to the total transactions registered on the gateway. Also, Paytm PostPaid & EMI services which were launched last year has continued to gain popularity with users and are registering 25% month-on-month growth.
By availing services of Paytm Payments Gateway, millions of merchants have been able to digitize & automate their payment collection, disbursement, and reconciliation processes. In a short span of time, over 42% of its partnered business partners have moved towards creating and sharing payments link /invoices without investing time to build their own platform. Similarly, Paytm Payout has processed over Rs. 1660 crore of the monthly transactions and has become the most reliable for companies to make regular payments to a large number of vendors, salaries and food allowance to employees, rewards or instant refunds to their customers and even other expenses like utility bills for multiple offices.
Senior Vice President of Paytm Praveen Sharma said, “This step will further deepen the importance of digital payments for businesses and bring to them the advantages of the digital economy. Our systems have the capacity to manage up to 2500 transactions per second which ensure stability when our enterprise merchants see spikes during special events and sales. We will continue to launch new solutions that make business processes simpler, flexible and more efficient.”
As per the latest RedSeer report on digital payments in India, Paytm All-in-One Paytm Gateway is the fastest growing payment gateway with over 42% market share. The list of enterprise clients includes industry leaders such as IRCTC, Zomato, Uber, Jio, Oyo, Swiggy, Big Basket, Gaana, MPL, Grofers, Curefit, Flipkart, and Dream11 among others. Also, it has a strong presence and acquires merchants through direct routes, bank partnerships and other aggregators under its Paytm Partner Program.