Paytm records 1 bn transactions in 2016; user base up by 45%

Moneycontrol Bureau

It seems that the New Year is here for Paytm in real sense as the company registered 1 billion transactions in 2016. Registering a growth of more than 45 percent in its total number of users, the company in its official blog said it enjoys a user base of 177 million in December versus 122 million in January.

The company has over 2 million registered merchants on its platform and has 147 million active transacting users.

Earlier, it had announced that the e-wallet major will enable 5 million merchants to leapfrog to digital payments in 2017. It also setup a 100 member help desk to educate merchants on the need and usage of digital payments.

Paytm witnessed 2 billion user sessions and saw 80 million monthly active users.

Its mobile share was 89 percent in 2016 versus 72 percent in 2015, out of which nearly 70 percent was through Android devices.

The company also claimed a 12x growth in offline commerce and claimed a share of 26 percent in overall digital payments in 2016. Follow @startup_18