Paytm founder and CEO Vijay Shekhar on said that user base on its platform now stands at 150 million.
Just a week after PM Modi’s announcement the company’s user base touched 75 million with 700% increase in overall traffic and 1000% increase in money transactions on its platform.
The company has spent nearly Rs 500-600 crore on marketing campaigns this year, Shekhar added.
The online financial technology and e-commerce website also announced the launch of a Point of Sale terminal app, which requires no hardware and accepts all cards transactions with no extra charge up till December 31.
In a move to boost further cashless transactions, Paytm said that they will levy 2% charges on credit card transactions while debit card transction will have no charge.
The company has also recorded an average transaction growth rate of 140% since PM Modi announced the ban of higher currencies on November 8.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Lido Learning raises $3 mn from Paytm exec, Picus Capital, others
#IndiaFightsCorona: Paytm to donate Rs 500 crores; takes this amazing initiative - PM Narendra Modi lauds it
LPG cylinder users alert! You can now book, pay through Paytm app - Here is how