Paytm hits transaction milestone
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Digital payments firm Paytm has achieved a gross transaction value (GTV) of $50 billion, while recording 5.5 billion transactions in 2018-19.
GTV refers to the sales or transaction volume through a platform.
Paytm, owned by One97 Communications, attributed the performance to a strong growth in the adoption of its digital payments solutions for multiple use cases, including retail payments, fees, utility payments, travel booking and entertainment.
The new PaytmFirst premium subscription-based rewards programme has helped to promote use and resulted in increased customer retention.
The company added that apart from promoting the use of its payment app, it has focused on building tools for merchants to simplify their day-to-day business needs.
Large merchants, who are now well equipped with new technologies to accept all payment modes such as cards, wallet, and unified payments interface (UPI), are accepting Paytm payments.
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