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Noida-based, mobile commerce platform Paytm has added another significant milestone. The company has announced that it crossed over 100 Mn mobile wallet users.
Quick Look Into Numbers
- 75 Mn transactions per month
- Tie ups with over 80,000 merchants
- Employees size 1001-5000
The company is planning to reach 10 Mn merchants by the end of 2016. Users can load money to Paytm wallet using debit card, credit card, net banking and over 20,000 cash deposit points.
Paytm is also partnering with various banks to help users to add money through bank branch and ATM machines.
On reaching this milestone, Vijay ShekharSharma, founder & CEO of Paytm, said “Today with over 100 million Paytm wallets, India has committed towards a less-cash society. We are happy with the momentum and are well on our way towards getting half a billion Indians on the Paytm platform. One use case at a time, one user at a time. Paytm stands for a cash-free India. I am a firm believer that cash usage is one of the foundational problems for our country. We believe Paytm is new India’s new way to pay. ”
Paytm, owned-by One97 Communications Ltd was founded in 2010 by Vijay Shekhar Sharma. The company offers a marketplace for mobile applications including mobile recharge, utility bill payments and inter-wallet and wallet-to-bank money transfers.
Other than that, it also offers payment solutions for online shopping, pay for various online services like Uber, FoodPanda, BookMyShow, IRCTC etc.
With such services, Paytm Wallet has eliminated the safety and convenience-related concerns that accompany carrying huge amounts of cash.
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