Paytm sees over 435% increase in traffic since yesterday

Paytm is registering massive growth across India within hours of Prime Minister Narendra Modi announcing his plans towards discontinuation of higher denomination notes of INR 500 and INR 1000. The Paytm platform saw an overwhelming 435% increase in overall traffic as millions of consumers across the country have taken to using their Paytm Wallets to transact offline.

The company has registered a 200% hike in a number of app downloads and 250% surge in the number of overall transactions and transaction value. The number of Saved Cards also grew by 30%, pointing to a strong set of repeat customers the platform has now acquired. The company has noted 1000% growth in money added to the wallet and 400% growth in the transaction value of offline payments.

From Brick-and-mortar merchants and other Online-to-Offline sectors, Paytm can easily integrate its fast, secure and convenient payment solution into them.

Paytm users can pay virtually anyone who has a smartphone just by scanning their QR code or entering their mobile number in the Paytm app. Paytm Cash can be used to pay for local taxi/autos fares, paying at petrol pumps, grocery outlets, restaurants and coffee shops, multiplexes, local tea/vegetable vendors or other service providers who prefer Paytm because of its seamless payment solutions.
The platform also allows users to do online recharges and bill payments, book movie tickets, do travel bookings and shop for products online among others.
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Paytm is planning the next chapter in the evolution of the country’s app ecosystem with the Paytm Super app.

With the current user base of more than 150 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services.