One97 Communications Limited (OCL) that owns the payments and financial services company Paytm, announced the release of Paytm’s 2023 Recap. The Recap showcased the payment numbers and user engagement on its app. Users can also check their individual payment journeys with Paytm in 2023 through paytm.com/recap.
Paytm posted strong in-store payment numbers with more than 92 lakh Paytm pioneered devices such as Soundbox, Card Machines, etc. in the quarter ending Sep 2023. A total of 912 crore merchant payments were made using Paytm in Q2FY24. Paytm was the first to launch QR code based payments, and instant audio confirmations with Soundbox device. This year, the company launched three new Paytm Soundbox devices for merchants — Pocket Soundbox, Music Soundbox, and Card Soundbox.
“The company’s report shows the widespread adoption of Paytm pioneered QR codes and said that if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars,” it said in a statement.
The company is taking digital payments far and wide, driving financial inclusion as it is being embraced by farthest corners of the country, with users from places like Dharwas in Himachal Pradesh and Laitmawsiang in Meghalaya.
Engaging observations have been witnessed during the year, with Rs 20 being the most common amount paid by the Paytm users. Facilitating the payment of over 55 lakhs challans worth a staggering Rs 179+ crore, the company provided users with a convenient way to settle fines and dues.
“During the year, users made payments to our strong merchant base of 3.75 crore, across the country, supporting businesses of all sizes,” the company said.
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.”