Paytm Payments Bank becomes the largest enabler of digital transactions

13-04-2021 Tue 16:14

  • Paytm Payments Bank becomes the largest enabler of digital transactions, registers lead in Wallet, FASTag, UPI, Bill Payments & Domestic Money Transfers
  • Becomes India's first Payments Bank to achieve 970 million digital transactions in March 2021
  • India's largest digital banking service provider with 64 million bank accounts, deposits over Rs 3200 Crores
  • Ahead of all Indian banks in terms of users' preference to receive UPI payments
  • Largest UPI beneficiary bank with over 99.96% success rate and rapidly gaining traction as a remitter bank, as per NPCI report
  • Paytm Wallet strengthens its position as the strongest digital payments service with 325 million wallets
  • PPBL leads the largest issuer of FASTags preferred by over 9 million electronic toll tags sold across the country
India’s homegrown Paytm Payments Bank Ltd (PPBL) has today announced that it has become the top enabler of digital payments in the country by registering over 970 million digital transactions in the month of March 2021. This achievement has been led by the growth in transactions on Paytm Wallet, Paytm FASTag, Paytm UPI, and internet banking over the last several quarters. PPBL which is rapidly gaining the trust of millions of Indians is now opening on an average 1 million savings and current accounts a month.  With over 64 million accounts, the bank's total deposits have crossed over Rs 3200 crores.

Top beneficiary bank for UPI payments with the industry's best success rate

PPBL continues to be the largest beneficiary bank for UPI transactions and registers the highest success rate in the industry. It is also rapidly gaining traction as a remitter bank for UPI payments. The NPCI data also reveals that it has the lowest technical decline rate at 0.11% among all UPI remitter banks and 0.04% among all UPI beneficiary banks.

Paytm Wallet continues to grow with merchant payments accounting for 85% of its overall transactions

PPBL has democratized online transactions in the country with the Paytm Wallet and continues to remain the strongest digital payments service provider, witnessing consistent growth of 15% month-on-month. Paytm Wallet has consolidated its position as the leading digital payments service with 325 million wallet accounts. Over 78% of Wallet account holders use it for payments on a daily basis. The massive adoption of Paytm Wallet by the masses can be also be gauged from the fact that *85% of wallet transactions are merchant transactions across online platforms and Kirana stores.

Largest enabler of digital toll payments with 9 million FASTags

With over 9 million FASTags sold and 42 million monthly issuer transactions, Paytm Payment Bank’s FASTag has become India's most preferred instrument for digital toll payments as it allows users to directly pay from their Paytm Wallet. It has gained immense popularity amongst vehicle owners including commercial transport due to its seamless onboarding and integration process which requires minimum documentation, instant activation, and unmatched customer care support. Also, PPBL has now enabled cashless toll payments across 270 plazas and registers over 57 million monthly acquirer transactions.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “Our leadership in digital banking and payments is a testimony to the trust that the whole country has shown in our services. We will continue to empower more merchants across the country to join the digital payment ecosystem and benefit from our innovative & personalized offerings. We are committed to playing a key role in building Atmanirbhar Bharat."


More Press Releases
Garudavega Ships Oxygen Concentrators to India
37 seconds ago
Telangana gets nod for experimental drone flights for vaccine delivery
4 days ago
ఆబ్కారీ శాఖపై మంత్రి శ్రీనివాస్ గౌడ్ ఉన్నత స్థాయి సమీక్ష సమావేశం
4 days ago
Collective resolve and intensified efforts crucial to contain the pandemic: Telangana Governor
4 days ago
CS Somesh Kumar visits Golconda Hospital
4 days ago
Telangana Govt granted exemption to conduct Beyond Visual Line of Sight experimental flights of drones
5 days ago
పశుసంవర్ధక శాఖలో కాంట్రాక్ట్ వైద్యుల పదవీకాలం మరో ఏడాది పాటు పొడగింపు.. ఉత్తర్వులు అందజేత
5 days ago
CS Somesh Kumar review on Oxygen Tankers Transportation
5 days ago
CS Somesh Kumar visits Gandhi Hospital
5 days ago
NephroPlus to launch ‘Dialysis on Wheels’ in Pune
5 days ago
Update on COVID Vaccination Phase-3
5 days ago
Prime Minister Narendra Modi holds a telephonic conversation with Australian PM
5 days ago
గ్రామాల్లో కోవిడ్ నివారణ, చికిత్సపై అవగాహన కల్పించాలి: మంత్రి సత్యవతి రాథోడ్
5 days ago
PM congratulates M K Stalin on taking oath as CM Tamil Nadu
5 days ago
Telangana Covid Vaccination update as on 06.05.2021 at 9PM
6 days ago
Government effectively allocates COVID19 supplies received from global community to States/UTs
6 days ago
Droom announced 1 crore budget to combat COVID for its employees and dealer’s community
6 days ago
హైదరాబాద్ లో 700 బృందాలతో 47,582 ఇళ్లలో ఫీవర్ సర్వే
6 days ago
Paytm launches COVID-19 Vaccine Finder to help citizens
6 days ago
Classic movies to watch this Mother’s Day, exclusively on Lionsgate Play
6 days ago
Amara Raja Group announces inoculation drive for all its employees and their families
6 days ago
Guidelines issued for fast and efficient vaccination of Civil Aviation Community
6 days ago
PM Modi reviews public health response to Covid-19
6 days ago
Telangana CS visits Boggulakunta urban Primary health centre
6 days ago
Govt. of India has so far provided more than 17.15 crore vaccine doses to States/UTs Free of Cost
1 week ago
Advertisement
Video News
Mob Attack Arabs in Israel
ఇజ్రాయెల్​ లో అల్లర్లు.. అరబ్​ లపై యూధుల దాడులు
5 minutes ago
Advertisement 36
Garudavega Ships Oxygen Concentrators to India
ప్రెస్ నోట్: గరుడవేగ వారి ఆక్సిజన్ కాన్సంట్రేటర్ షిప్పింగ్ సర్వీసెస్
7 minutes ago
Putta Mangapathi Passed away due to Corona
కరోనా కారణంగా హెచ్.ఎమ్.వి.మంగపతి మృతి
9 minutes ago
jagan releases raithu barosa funds
ఒక్క‌ బటన్‌ నొక్కి 52.38 లక్షల మంది రైతుల ఖాతాల్లో రూ.3,928.88 కోట్ల జమ చేసిన ఏపీ సీఎం జ‌గ‌న్
9 minutes ago
D Srinivas gives many suggestions to Etela
ఈటల రాజేందర్ కు పలు సూచనలు చేసిన డీఎస్
33 minutes ago
changes in vaccination program
క‌రోనా నుంచి కోలుకున్న 6 నెల‌ల అనంత‌రం వ్యాక్సిన్ తీసుకోవాలి: ఇమ్యునైజేష‌న్ సాంకేతిక స‌ల‌హా బృందం కీల‌క‌ సూచ‌న‌లు
37 minutes ago
What Happens If Two Vaccines Mixed for 2 doses
రెండు డోసులు వేర్వేరు వ్యాక్సిన్లు తీసుకుంటే.. ఇదీ 'ఆక్స్​ ఫర్డ్'​ అధ్యయనంలో తేలిన విషయం!
37 minutes ago
ruckus in kakatiya nagar
అసైన్డ్ భూముల్లోని గుడిసెల‌కు నిప్పు.. న‌ర్సంపేట‌లో తీవ్ర ఉద్రిక్త‌త‌
55 minutes ago
Want to marry Tamil person says Rashmika Mandanna
తమిళ వ్యక్తిని పెళ్లి చేసుకోవాలన్నదే నా కోరిక: రష్మిక మందన్న
1 hour ago
Two Die On Mt Everest Due To Exhaustion
ఎవరెస్ట్​ పై ఇద్దరు విదేశీ పర్వతారోహకుల మృతి
1 hour ago
Anushka keeping her offers in waiting list
వెయిటింగులో పెట్టేస్తున్న అనుష్క!
1 hour ago
mihika post about rana
నా జీవితంలో తీసుకున్న అత్యుత్తమ నిర్ణయం ఇదే అయి ఉండొచ్చు: రానా భార్య మిహీక
1 hour ago
Two BJP MPs who won in Bengal elections resigns
బెంగాల్ లో 75కి తగ్గిన బీజేపీ ఎమ్మెల్యేల సంఖ్య
1 hour ago
Karnataka To Suspend Vaccination For 18 to 44 Age Group
కర్ణాటకలో 18 నుంచి 44 ఏళ్ల వారికి వ్యాక్సినేషన్ నిలిపివేత
1 hour ago
nidhi gives a offer
ఈ కుక్క ఆచూకీ చెబితే రూ.లక్ష ఇస్తాం: హీరోయిన్ నిధి అగ‌ర్వాల్
2 hours ago
Keerthi Suresh is seen as a Bank Employee in Sarkaruvaari Paata
'సర్కారువారి పాట'లో కీర్తి సురేశ్ పాత్ర అదేనట!
2 hours ago
 first time in the country 110 year old man recovered from covid
దేశంలోనే తొలిసారి.. హైదరాబాద్ ‘గాంధీ’లో కొవిడ్ నుంచి కోలుకున్న 110 ఏళ్ల వృద్ధుడు!
2 hours ago
Surendar Reddy reworking on Akhil new movie script
అఖిల్ కథపై కసరత్తులు జరుగుతూనే ఉన్నాయట!
2 hours ago
Media Bulletin on status of positive cases COVID19 in india
దేశంలో కొత్త‌గా 3.62 ల‌క్ష‌ల మందికి కరోనా నిర్ధారణ
2 hours ago
Corona wont go with hot water
వేడి నీళ్లతో స్నానం చేస్తే కొవిడ్ రాదన్న వార్తలపై ప్రభుత్వం స్పష్టత
2 hours ago