Paytm Leads the Mobile Payments Revolution — PM Modi Tweets About Paytm QR Being a Common Sight Across India

byKrishna VanamaliLast Updated: January 25, 2023

As India’s leading digital payments and financial services company that pioneered the QR code revolution, we are proud to have played a significant role in the widespread adoption of digital payments in the country.

Prime Minister Narendra Modi recently took to social media to highlight the reach of digital payments, retweeting a tweet which shared a photo of a roadside tailor in Uttar Pradesh’s Ghaziabad, who has integrated Paytm QR codes into his sewing machine. 

“It is a common sight across India…our people have shown remarkable dexterity in adapting to tech and innovation,” said PM Modi. The viral tweet notched up over 1.3 million views and 18,000 likes.

Our Founder and CEO Vijay Shekhar Sharma thanked the Prime Minister for his efforts in championing and guiding this change.

Our efforts to expand the company’s reach by partnering with small businesses and vendors, such as the roadside tailor in the image shared by PM Modi, have contributed to the increased adoption of digital payments in India. We pioneered the use of QR codes for mobile payments and have made digital transactions a way of life for Indians and accessible to all.

We are empowering merchants to grow their businesses through a range of solutions, from offline payment devices to credit. With cutting-edge financial technology, we have built a strong digital foundation that is driving India’s technological progress. We disbursed loans worth Rs 3,665 Cr in December, growing 330% y-o-y. As a result, total disbursements for the three months ended December 2022 was Rs 9,958 Cr, a growth of 357% y-o-y. We continued to strengthen our leadership in offline payments, with 5.8 million merchants now paying subscriptions for our payment devices. 

We are on a mission to bring half a billion Indians into the mainstream economy through digital payments and financial services.

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