Paytm’s payment gateway business records 750M monthly transactions
on Monday announced that its payment gateway business registered over 750 million monthly transactions, having already surpassed volumes to pre-COVID levels.
According to a statement, its “All-in-One Payment Gateway” saw increased adoption of online payments from segments, including BFSI, retail and D2C ecommerce, utilities, edtech, food delivery, digital entertainment, gaming, etc.
The fintech unicorn claimed the higher adoption was on the back of Paytm and Paytm Payments Bank-issued instruments, including Paytm Wallet, Paytm PostPaid, Paytm Gift Vouchers, and Loyalty Points, besides its standard payment methods such as UPI, net banking, and debit and credit card transactions.
Praveen Sharma, Senior Vice President at Paytm, said, "Our systems have the capacity to manage up to 2,500 transactions per second, which ensure stability when our enterprise merchants see spikes during special events and sales. We will continue to launch new solutions that make business processes simpler, flexible, and more efficient."
According to Paytm, the growth of its payment gateway business is also fuelled by its free-of-cost UPI and Rupay transactions for online businesses, SMBs, and large enterprises.
As per areport on digital payments in India, Paytm's All-in-One Paytm Gateway is the fastest-growing payment gateway with over 42 percent market share. It is the leader in the -payment gateway segment, having built strong traction in the enterprise business.
The Paytm All-in-One Paytm Gateway offers industry-leading success rates, uptime, and transaction processing capacity, the company claimed. It also provides developer-friendly, customisable SDKs, and technology support to build highly customised user interfaces that enhance the overall payment experience for end customers.
Similarly, Paytm Payout has processed over Rs 1,660 crore of the monthly transactions, becoming the most reliable platform for companies to make regular payments to a large number of vendors, salaries, and food allowance to employees, rewards or instant refunds to their customers, and even other expenses like utility bills for multiple offices.
Edited by Suman Singh