rahul1117kumar
Member
- Joined
- 21 Jun 2013
- Messages
- 10,365
- Reaction score
- 11,058
Mobile payment platform Paytm Wednesday said it has recorded a 435% increase in its overall traffic within hours of Prime Minister Narendra Modi's ban on Rs 500 and Rs 1000 notes as a step to clean up black money and move towards a cashless economy.
“This is the biggest and most ambitious step ever to crack down on black money and fake currency. We stand by the government in its efforts towards taking black money out of the equation and offering a major boost to the Indian economy," Madhur Deora, CFO, Paytm said in a statement.
"Since Paytm is fast becoming synonymous to all kinds of payments, we are happy to announce we have registered a strong surge in volume on our platform,” he added.
The company said it has registered a 200% hike in number of app downloads and 250% surge in number of overall transactions and transaction value. The number of saved cards also grew by 30%, pointing at 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 transaction value of offline payments, the statement added.
Paytm sees huge traffic growth post govt demonetisation plan - ET Telecom
“This is the biggest and most ambitious step ever to crack down on black money and fake currency. We stand by the government in its efforts towards taking black money out of the equation and offering a major boost to the Indian economy," Madhur Deora, CFO, Paytm said in a statement.
"Since Paytm is fast becoming synonymous to all kinds of payments, we are happy to announce we have registered a strong surge in volume on our platform,” he added.
The company said it has registered a 200% hike in number of app downloads and 250% surge in number of overall transactions and transaction value. The number of saved cards also grew by 30%, pointing at 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 transaction value of offline payments, the statement added.
Paytm sees huge traffic growth post govt demonetisation plan - ET Telecom
