Tier II and tier III Cities are leading the wave of digital payments adoption

We are registering a 5Bn transactions run rate and $50 Bn GTV

We have been witnessing a tremendous increase in adoption of digital payments in tier II & tier III cities that constitute 50% of our total user base. Surat, Durgapur, Rajkot, Meerut, Imphal, Rohtak, Panipat, Mangalore, Ranchi, Puducherry, Rajamundri, Warangal, Jodhpur, Thrissur, Karnal, Madurai and Jamnagar are among the fastest adopters and are leading the wave of digital payments adoption.

A major factor that has contributed to this growth is our multilingual app. Around 25% of our users prefer using the app in their regional language. Hindi is the most used language after English, followed by Gujarati, Telugu, Marathi, Bengali, Tamil and Kannada among others. An increase in usage of vernacular languages on our app reflects the increased trust on digital payments from these consumers.

We have been able to create a network effect among our consumers and merchants. Given the multiple use cases, consumers prefer paying through Paytm, while the merchants accepting Paytm are seeing increased business and are also being able to pay digitally across their supply chain. We are powering the largest offline payments network with over 8 Million offline merchant partners who accept payments via the Paytm QR. We have a 3x larger merchant base compared to any card payments network in the country.

The government’s push towards the adoption of digital payments has further helped in digital payments acceptance among the masses. An encouraging trend that has been seen is increased usage among women. Over the past year, female users on our platform have grown more than 100%. While millennials continue to be the most active users of digital payment, we have been witnessing increase of the users above the age of 35 years as well!

This has helped us achieve an annual run rate of 5 Bn transactions and $50 Billion GTV (Gross Transaction Value). We are the largest contributor towards all forms of digital payments including UPI, Wallet and Cards. Since January 2018, we have processed over 400 million BHIM UPI transactions, which is fast becoming a preferred alternative to net banking. We have also achieved 500% growth in money transfer transactions last quarter.