Paytm Payments Bank hits 970 million digital transactions in March

Paytm Payments Bank has recently said that it registered 970 million digital transactions in March, 2021 with growth reported across its various services, including Wallet, UPI, and internet banking, among others.

It also said that it is opening an average of one million savings and current accounts per month. The wallet service of Paytm saw a growth of 15% in transactions month-on-month, and over 78% of its 325 million account holders use the service on a daily basis.

Satish Kumar Gupta, CEO & MD, Paytm Payments Bank, stated, “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.”

In terms of UPI transactions, Paytm, citing the NPCI data, declared that it has the lowest technical decline rate at 0.11% among all UPI remitter banks, which has enabled it to become one of the largest beneficiaries for UPI transactions.