Paytm Crossed Rs 10,000 Cr Transactions This Diwali Season
Paytm on Monday said that transactions on its platform crossed $1.6 billion during the Diwali season, which was three-and-half times more than it did last year.
Volumes during the month-long period ended 20 October were driven by the food and transportation categories, while increase in payments at mom-and-pop stores through the Paytm app also contributed to the surge, the company said in a statement as per the source Mint.
“Mobile payments have become mainstream over the last few quarters. Owing to the convenience and security, people prefer Paytm to card and other modes of payments,” Paytm chief operating officer Kiran Vasireddy said in the statement.
According to the data from RBI the net transactions in the month of August touched Rs 45,710 crore through Debit and Credit cards, Rs...