Use of digital money is going to increase more and more as Paytm has announced that this is the top paid app in India that has been downloaded for more than 100 Million times from Google Playstore.
December has brought immense success for the Paytm as it has hit the milestone in the second week of December when it has achieved the growth once the Paytm app received BHIM UPI functionality through Paytm Payments Bank.
Paytm has claimed in a press statement that it is the largest used payment app in India which offers the easiest QR code to scan while paying at grocery shops, kirana stores, large merchant houses, local auto and cab fares, restaurants, multiplexes, petrol pumps, milk booths and where not. The Senior Vice President of Paytm has exclaimed their happiness of touching the 100 Million downloads mark and he has credited the team of Paytm for achieving such a glory. He has also added that such success story will boost them up to work better to achieve their goal of making India the digital-first economy.
In November, Paytm bank started rolling Paytm app with BHIM-UPI compatibility. Now, this compatibility has been launched on Android and people are using it more and more. But, the app is yet to be introduced on iOS platform. Users can make payment through BHIM-UPI framework as they get a Paytm Virtual Payment Address (VPA). Making and accepting payment has become easier now with this system.
Paytm started its journey in 2010 as a prepaid mobile recharge website and later, in 2013, it was transformed into the Paytm Wallet. In November, the owner, One97 Communications, has taken a revolutionary step by venturing into the banking sector with Paytm Payments Bank. The benefit of this system is to access the absolute e-commerce platform through Paytm Mall.