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<ul><li>Vijay Shekhar Sharma-led platform is targeting to hit 1.5 billion in merchant payments. </li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> is hoping to do the same by reaching out to 14 million merchants this year.</li><li>Paytm has also introduced a feature to ‘Scan any QR code to pay using Paytm.</li></ul>Indian <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">digital payments</keyword> leader Paytm is gearing up for the <keyword id="36208" type="PERSON" weightage="20" keywordseo="festive-season">festive season</keyword>. The Vijay Shekhar Sharma-led platform is targeting 1.5 billion in merchant payments during the upcoming festive season between October and December. <br /><br />Paytm is hoping to do the same by reaching out to 14 million merchants this year, 40% more from its target of 10 million last year. It is also hoping to reach out to 2 million retail outlets across the country. <br /><br />Holding over 50% of the market share in the payment gateway industry, the company had earlier said that its doing 400 million transactions per month; is five times more than its next competitor. <br /><br />Taking advantage of the interoperable option for UPI, Paytm has also introduced a feature to ‘Scan any QR code to pay using Paytm’. <br /><br />“We have been observing the ever-evolving needs of our users &amp; believe in providing them the flexibility to choose their preferred mode of payment. With the interoperable UPI, consumers now also get the additional flexibility to Scan any QR code through their Paytm app and make payments directly from their linked Bank account,” said Jaskaran Kapany, Marketing Head, Paytm. <br /><br />In the financial year 2018-19, Paytm had clocked in a gross transaction value of $50 billion through 5.5 billion transactions. It has also set a target of 12 billion transactions by FY20. <br />

Paytm is targeting 1.5 billion transactions during festive season with a 40% jump in number of merchants

<keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, the digital payments giant which pioneered the QR code revolution in India is making waves among not only Indian users but also NRIs visiting their home country. From a vegetable seller on the roadside to a jaggery seller on a bullock cart, Paytm is being used by small merchants across the country, making everyday transactions easy. Many users have taken to Twitter to highlight how the pioneer of mobile and QR payments has empowered Indians.<br /><br />A user took to the microblogging site to share his experience of using Paytm to pay for vegetables at a roadside vendor in Delhi. The user, Raghav Oberoi, who has been living in Germany for 11 years, was impressed by the convenience of the payment method and mentioned that he has not experienced such ease of payment in Germany.<br /><div type="twitter" handle="oberoi_raghav27" handlename="Raghav Oberoi" image="http://pbs.twimg.com/profile_images/1382766892092391426/jBX7Z15G_normal.jpg" favoritecount="708" retweetcount="44" status="Just bought 1kg gobi and made the payment via #Paytm. I have been living in Germany for past 11 years, never have I… https://t.co/fnxEIxp16l" createdat="1670464360000" id="1600669660051308544"></div>Raghav Oberoi tweeted, “Just bought 1kg gobi and made the payment via #Paytm. I have been living in Germany for the past 11 years, never have I ever experienced such an ease of payment”.<br /><div type="twitter" handle="oberoi_raghav27" handlename="Raghav Oberoi" image="http://pbs.twimg.com/profile_images/1382766892092391426/jBX7Z15G_normal.jpg" favoritecount="44" retweetcount="1" status="Perhaps there is a confusion, the picture is from a road side vendor in Delhi (I am currently here on vacation) and… https://t.co/rE1ldifUCH" createdat="1670574790000" id="1601132834470887429"></div>Paytm Founder Vijay Shekhar Sharma responded to the tweet, saying, “Absolutely! I miss #PaytmKaro in so many “developed” countries. 🚀” <br /><br />The President of the IT industry body Nasscom, Debjani Ghosh, also responded to the Twitter user's experience with Paytm. Ghosh wrote, "Welcome to Digital India," highlighting the growing popularity of <keyword id="1399736" type="General" weightage="20" keywordseo="digital-payment" source="Orion">digital payment</keyword> methods in the country and the government's push for a cashless economy.<br /><div type="twitter" handle="debjani_ghosh_" handlename="debjani ghosh" image="http://pbs.twimg.com/profile_images/1600119665967386625/RojJihav_normal.jpg" favoritecount="11" retweetcount="0" status="Welcome to Digital India 😊😊❤❤ https://t.co/k7sBJajH4t" createdat="1670583234000" id="1601168254667755521"></div>Paytm has become a go-to payment option for millions of Indians, with “Paytm Karo’ evolving into a verb. <br /><div type="twitter" handle="pantlp" handlename="LP Pant" image="http://pbs.twimg.com/profile_images/1532011067085189120/cZRpIuBq_normal.jpg" favoritecount="1634" retweetcount="114" status="देश बदल रहा है… https://t.co/fmtzSinuXp" createdat="1670923622000" id="1602595942947258368"></div>In a video shared by a Twitter user, a jaggery seller on a bullock cart in Jaipur was seen sporting three Paytm QR codes for customers to pay with. It was aptly captioned, “Desh badal raha hai. (The country is changing)”<br /><br />The convenience of accepting payments through the platform has made Paytm a favourite even among small vendors.<br /><div type="twitter" handle="junoesque" handlename="🇮🇳  Riitu Chugh ऋतू चुघ" image="http://pbs.twimg.com/profile_images/1554370804283936770/tK7xO3p4_normal.jpg" favoritecount="1" retweetcount="1" status="My local fruit wallah is delighted with the #UPI experience since he doesn't have to chase people for small payment… https://t.co/1Ll2eKttdB" createdat="1670657189000" id="1601478443677667329"></div>Another Twitter user, Riitu Chugh, tweeted that her local fruit seller is particularly delighted with the UPI experience offered by Paytm. She noted that the seller no longer has to chase people for small payments. “This innovation ticks all the success boxes,” she said, tagging Paytm Founder Vijay Shekhar Sharma.<br /><br />India has made significant strides in the digital payments space and one of the key factors contributing to this success is the growth of mobile payment platforms like Paytm.<br /><br />Incidentally, German Foreign Minister Annalena Baerbock, who was on a two-day official visit to India recently, used Paytm while shopping at Delhi’s Chandni Chowk.<br /><div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar Sharma" image="http://pbs.twimg.com/profile_images/1567558193429217281/e6JbIoQ3_normal.jpg" favoritecount="224" retweetcount="13" status="Welcome all #G20 delegates and foreign dignitaries India and experience India's world class digital payment infrast… https://t.co/oetHTWpjqi" createdat="1670299460000" id="1599978018826780672"></div>American philanthropist Melinda French Gates, the Co-founder and Co-Chair of the Bill &amp; Melinda Gates Foundation, also used Paytm to pay for a water bottle at a kirana store in the national capital earlier this week. <br /><div type="twitter" handle="BMGFIndia" handlename="Gates Foundation India" image="http://pbs.twimg.com/profile_images/1576900035245395969/C0VGe-Id_normal.jpg" favoritecount="90" retweetcount="24" status=".@melindagates visited Garhi Village in New Delhi and witnessed how India's #digital public infrastructure is enabl… https://t.co/Dn7us1cQwt" createdat="1670418434000" id="1600477033628241920"></div>“Melinda French Gates visited Garhi Village in New Delhi and witnessed how India's digital public infrastructure is enabling financial inclusion,” the foundation tweeted.<br /><em>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on </em><a href="mailto:insiderstudios@businessinsider.in"><em>insiderstudios@businessinsider.in</em></a>

From vegetables to kirana stores, Paytm has become the go-to payment option for many

<a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate">Paytm</a> is seeing its QR code payment method as an alternative to<a href="http://www.businessinsider.in/searchresult.cms?query=point+of+sales+machines&amp;sortorder=effectivedate"> Point of Sale (PoS) machines </a>and is touting to reach 1 crore <a href="http://www.businessinsider.in/searchresult.cms?query=offline+sellers&amp;sortorder=effectivedate">offline sellers</a>.<br />
<br /> This can be termed as an intelligent move as <keyword id="2520723" type="UNKNOWN" weightage="20" keywordseo="POS-machines">PoS machines</keyword> are expensive and the time taken to deliver is long.<br />
<br /> “In order to add more momentum to the traction, we are making the app available in regional languages and expanding merchant acquisition network in smaller towns,” Deepak Abbott, senior vice president at <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, told ET.<br />
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The QR code-based payment is linked to the verification documents and KYC collected for each business.<br />
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At present, 35 lakh merchants including organised retailers, hospitals, and other stores use the facility for their businesses.<br />
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Post <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a>, the offline merchants rose to one lakh and Paytm also hired 10,000 field-force to ramp up the number of offline users.

Paytm is pushing its QR payment method as an alternative to PoS, looks to reach out 1 crore offline sellers

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Paytm is targeting 1.5 billion transactions during festive season with a 40% jump in number of merchants

Sanchita Dash

From vegetables to kirana stores, Paytm has become the go-to payment option for many

Insider Studios

Paytm is pushing its QR payment method as an alternative to PoS, looks to reach out 1 crore offline sellers

BI India Bureau

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