Paytm tops UPI payments with over 33% market share

Alibaba and SoftBank-backed Paytm on 01 October 2018 said it registered over 137 million UPI transactions in September, becoming the leading contributor to Unified Payments Interface (UPI) payments with over 33 per cent of the overall market share.

One97 Communications Limited, that owns the brand Paytm, said the company is enabling BHIM UPI for offline payments and over five million offline merchants, out of its 9.5 million merchant-base, now accept Paytm UPI. It is encouraging to see the widespread adoption of Paytm BHIM UPI as it is fast becoming a preferred payment method for millions of users, making us the leader in UPI payments.

More than 20 per cent of all payments on Paytm are made using BHIM UPI for mobile recharge and payments, electricity and water bills and DTH recharges, among others. The “Spam-proof SMS Inbox” uses Machine Learning (ML) algorithms to classify SMS into personal, transactional and promotional categories. Once activated, the app educates users about the various classifications of the SMS categories and their utility value.

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