India’s capital of digital payments is Delhi-NCR, according to a Paytm research
- ByStartupStory | December 30, 2022
The release of Paytm 2022 Recap, which outlines patterns in transactions completed through Paytm in the previous year, was announced by One97 Communications Limited (OCL), the company that runs the fintech company Paytm, on Wednesday. With its lightning-fast and secure payments, Paytm UPI is one of the most popular payment options in India.
According to the company’s analysis, Katpadi in Tamil Nadu would experience a 7X surge in digital payments by 2022, surpassing Delhi-NCR as the city with the fastest growth. The majority of food and beverage purchases in Chennai and Trichy, Tamil Nadu, are made offline, whereas Amritsar witnessed the most Paytm spending on health and grooming. The biggest percentages of Paytm purchases from street vendors or micro-sellers were made in Nagpur and Noida. The cities with the fastest UPI transaction growth in the North East are Lohit in Arunachal Pradesh, South Sikkim, and Ranipool, as well as Guwahati, Dibrugarh, Jorhat, and Kamrup in Assam.
With more than 5.5 million retailers already paying subscription fees for payment devices, Paytm is strengthening its position as the industry leader in offline payments. In India, Paytm Soundbox serves as the soundtrack to all business dealings, with a new business and its clients being welcomed by its tune every six seconds, remarked the fintech firm.
The business provides quick and easy money transfers with Paytm UPI. Over 1,300 users were introduced to Paytm by one user last year, earning him over Rs 1 lakh. According to the business, one user transacted in 106 cities across 20 states. Another individual made 358 reservations for flights between Mumbai and Delhi via the Paytm app.
The most payments have been made around 7:23 p.m., with Wednesday appearing as the busiest day of the week for digital transactions, which is a fascinating finding. Rahul and Pooja are two of the most popular names among Paytm customers. The business saved its customers from making 1,618,796,629 trips to the ATM. The business claimed that by accepting digital payments globally and promoting financial inclusion, two out of every three of its new consumers were residents of smaller cities and towns.
With Rs 20 being the most often sum paid on Paytm merchant quick answers, interesting discoveries have been made in merchant transactions (QRs). According to Paytm, there has been a 213% increase in offline QR transactions in Varanasi.
The digital payments tsunami has also spread over festivals. The biggest sum spent by a single customer during the online Diwali sale period was Rs 2.8 lakh. Rakhi is another holiday that saw a lot of Paytm UPI transactions, with Rs 1,100 being the most popular “shagan.”
“As the pioneer of QR and mobile-based payments in India, we continue to see widespread love for the most trusted payments app — Paytm. Over the last year, we have seen greater adoption amongst consumers and merchants, leading to some interesting trends with Paytm UPI leading the way. With the trust bestowed upon us by our users, we remain focused on driving financial inclusion in India,” said the spokesperson of Paytm.
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