Paytm is India’s largest payments platforms in terms of

 Paytm is India’s largest payments platforms in terms of consumers, merchants, transactions and revenue

 

India’s leading digital payments and financial services platform Paytm filed its DRHP on 15^th July 21 which gives an insight into the numbers which make the company India’s largest internet ecosystem.

The Vijay Shekhar Sharma-led company is headed for India’s largest IPO worth $2.2 billion.

Here’s how Paytm has grown over the years

Today, Paytm has over 333 million consumers and 21 million merchants.The company is building India’s largest internet ecosystem that expands beyond payments. In fact, Paytm has become synonymous with all things digital for the Indian consumer.

Here are the numbers from its DRHP which prove the same.

-       Paytm is the largest payment gateway aggregator in India based on total transactions, for the fiscal year ended March 31,

     2021, with the widest ecosystem of payment instruments

-       Paytm is leading the market on both sides of the segment — customers and merchants.

-       Paytm recorded 5.9 billion merchant transactions in FY 2021.

-       According to RedSeer, the company has the largest payments platform in India with a GMV of ₹4,033 billion in FY 2021.

-       As per the company’s DRHP, in consumer to merchant transactions Paytm has a 40% market share, whereas in consumer to

     merchant wallet transactions, Paytm has a 65-70% market share.

-      Starting with bill payments and mobile top-ups as the first use cases, and Paytm Wallet as the first Paytm Payment Instrument,

    the company has built the largest payments platform in India based on the number of consumers, number of merchants,

    number of transactions and revenue as of March 31, 2021 according to RedSeer.

-       As per the Kantar BrandZ India 2020 Report, the "Paytm" brand is India's most valuable payments brand, with a brand value of 

     US$ 6.3 billion.

-     Paytm has the largest payments merchant and consumer base in India, according to RedSeer, which lets the company leverage

    the power of both the consumer and merchant side on the payment network, and which the company believes will be a major

    driver of its digital lending products.

-   The company said in its DRHP, “We have the most comprehensive suite of payment services for both consumers and

    merchants, according to RedSeer, which enables merchants to make and receive payments in a convenient, seamless and

    secure manner, online and in-store”.

-    During FY 2020, Paytm sold movie tickets across 5,700 screens and was the second largest booking platform in India, in terms

   of movie tickets sold, according to RedSeer.

-    Paytm Payments Bank has the largest scale among all licensed Payments Banks in India, according to RedSeer, in terms of

    mobile transactions.

-       Paytm Payments Bank is the largest issuer of FASTags in India, according to RedSeer

-       Paytm Payments Bank is also the largest Electronic Toll Collection (“ETC”) acquirer bank for FASTags, according to RedSeer.

 

YES BANK digitizes eight campuses with

YES BANK digitizes eight campuses with its cashless solutions

Facilitates contactless payments, eliminating the need for handling cash for collections of fees and associated campus expenses

YES BANK has empowered eight leading educational campuses by enabling digitization across India through cashless payment solutions. In light of the COVID-19 situation, the Bank has successfully partnered and helped the institutions achieve their vision of going cashless, while enabling payment of fees and other campus expenses through secure digital solutions.

The innovative solutions have helped in reducing the turnaround time for transaction processing and are in-line with Bank’s strategy of building a transformed ‘Digital Bank’. The Bank aims to provide convenient and seamless payment experience through a mix of solutions including offline UPI (Unified Payments Interface) having VPA (Virtual Payment Address), QR Code based payments (Scan-and-Pay), dynamic VPA based collections and Payment Gateway options.

The Bank has fully equipped the following campuses with technology and created an eco-system to go 100% cashless.

·         Emmanuel English Higher Secondary School – Silchar, Assam

·         New Oxford School – Silchar, Assam

·         Shri Ram Centennial School - Agra

·         Uttam Institute of Management Studies - Agra

·         G. D. Goenka Public School - Agra

·         Mussoorie International School – Mussoorie

·         Whistling Woods International - Mumbai

·         Silver Bells English Medium School – Nashik

Benefits of the solution:

·         Payments and transactions can be done round-the-clock basis the convenience of the individual, from the safety and comfort of their homes through any UPI App

·         Eliminates the use of cash for collections of fees, especially during the COVID-19 situation

·         Seamless VPA/QR code-based transaction without the need to integrate with any payment system

·         Cost effective for institutions, as the transaction cost is nil and cash handling charges are eliminated

·         Fully secure, as it eliminates the need to enter bank details or any other sensitive information like Account Number or Debit Card details for every transaction

·         Dashboard provided to the institutions for reconciliation of various MIS, transaction updates and reports

Speaking on the development, Ritesh Pai, Chief Digital Officer, YES BANK, said, “YES BANK is privileged to help the institutions in the journey of transforming their campuses into a truly cashless ecosystem. Digitizing educational institutions will encourage students to adopt digital payments in their formative years and gradually transform India into a digitally empowered society. The solutions are a step towards revolutionizing the payments infrastructure across education campuses in India. We look forward to collaborating with other institutions for many more similar innovative digital initiatives.”