The world is moving increasingly towards mobile and people want access to it from wherever they are, whenever they need it. Paytm, which is on its way to revolutionise mcommerce in India, has recently announced that it now has 50 Mn wallets on its platform and further wants to take the number to 100 Mn by the end of this year.
Paytm started by offering mobile recharge and utility bill payments and currently it offers a full marketplace to consumers on its mobile application. It authorizes inter-wallet money transfers and wallet-to-bank transfers, wherein a customer can transfer the money stored in the online wallet to a bank account. Paytm clocks over 60 Mn transactions per month, with an average user transacting four times every month on its platform, the company said.