How Our Strong Commitment to India Made Us a Leader in Merchant Payments

byPreeti VermaLast Updated: June 16, 2023

From a humble start to becoming a household name, we have captivated the minds of millions of Indians, transforming the way they transact every day. Our relentless focus on customer-centricity and innovation has turned us into an inspirational success story in India’s merchant payments sector.

We remain among the few companies that went from being just a brand to becoming a verb, with businesses across the country urging customers to “Paytm Karo”. This remarkable journey began with a deep understanding of the needs of businesses and users, driving us to create seamless payment experiences that make their lives easier.

We pioneered QR code payments, which enabled Unified Payments Interface (UPI) to go mainstream. When we noticed that merchants sometimes struggled to manually monitor payment confirmations on their phones, always one step ahead we identified this pain point and introduced the industry-first innovation – Paytm Soundbox. This groundbreaking device not only streamlined payment confirmations but also created a loyal and sticky customer base that fueled our growth

Our unwavering commitment to understanding and serving businesses have enabled us to build a vast merchant network. Our focus on customer-centricity has allowed us to stay ahead of the curve, paving the way for our dominance in the merchant payments space.

The numbers speak for themselves. Our Merchant Payment Volumes (GMV) for the quarter ended March 2023 stood at an impressive ₹3.62 lakh crore ($44 billion), marking a year-on-year growth of 40%. Our Merchant Payment Volumes for the quarter of April and May 2023 stood at Rs 2.65 Lakh Cr ($32.1 billion), YoY growth of 35%. This stellar growth signifies the increasing acceptance of our QR and Paytm Soundbox by merchants and customer preference for a smoother payment experience.

We provide users with multiple payment methods, including UPI, Paytm Wallet, and Paytm Postpaid. This value addition has attracted users to our thriving two-sided ecosystem.

Our meteoric rise as the merchant payments leader in India is a testament to our dedication to empowering businesses and users alike. Our unwavering focus on innovation and customer-centricity has set us apart from competitors, driving our widespread adoption across the nation.

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