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One97 Communications Ltd (OCL), the parent company of Paytm, released its 2023 Recap, presenting the company’s performance throughout the year. In the second quarter of the fiscal year 2024, Paytm facilitated 912 crore merchant transactions.
The company reported that Paytm’s range of payment options, including QR codes, Soundbox, and mobile payments, has contributed to its revenue in in-store transactions. Over 92 lakh Paytm-powered devices, such as Soundbox and Card Machines, were in use by merchants during the same quarter.
The most common payment amount recorded was ₹20, reflecting the user preference for smaller transaction sizes. Paytm’s contribution to facilitating the payment of over 55 lakh ‘challans’, totalling more than ₹179 crore, has provided users with means to settle fines and dues.
A Paytm spokesperson said, “As the pioneer of QR code, soundbox, and mobile payments in India, we continue to see widespread acceptance of Paytm, with increased adoption among both consumers and merchants. In 2023, we achieved new milestones and further cemented our leadership in payments. We continue to lead technology for India’s small shops and remain focused on driving financial inclusion in India.”
The shares were down by 0.10 per cent to ₹634.20 at 12:23 pm on the BSE.
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