As India’s mobile and QR payments pioneer, we have been successfully expanding our network of digital payments to remote locations and have transformed the way Indians make payments, making digital payments accessible to everyone – from bustling cities to far-flung corners of the country.
A recent incident shared by a Mumbai resident who made a UPI payment to a vegetable seller illustrates the widespread use of our QR codes in India.
“She laughed when I asked whether she had UPI for the payment of my purchase,” tweeted Swati Grekar, along with a picture of a Paytm QR code used by the seller.
We have made significant strides in expanding our network of digital payments to remote locations. We have built a merchant network of over 30 million businesses spread across 450 cities and towns and plan to expand this to approximately 1,000 towns in the next two to three years.
The impact of our growth has been significant on the Indian economy, especially on small businesses and merchants, who have been able to accept digital payments, leading to increased revenue and growth. Our expansion to remote areas has further helped us to drive financial inclusion and economic growth in these areas.
Another Twitter user shared a picture of our KYC booth in the middle of a highway in Rajasthan. When he stopped at a nearby shop to have tea and asked the owner if anyone used UPI, to make payments at that location, the owner replied that around 3 to 4 out of 10 people use UPI for payments.
The user, Varun Bengani, shared the picture of the shop located in a remote corner of Rajasthan with the caption, “Saw a Paytm KYC booth in the middle of a highway with no major cities in a 50 km radius. Stopped at this shop for tea and asked the owner whether anyone used UPI to pay here. He replied – “Beta 10 mein se 3/4 kar dete hai”.”
Our innovative products like Soundbox have helped us to build trust among users. Today, more merchants in India prefer our QR codes compared to any other payment companies in the country.
Our commitment to deepening financial inclusion and introducing digital payments to remote areas of the country has helped us to bring the most underserved into the mainstream economy.
