Paytm registers 700% increase in traffic thanks to Modi's black money surgical strike

India’s largest payments and commerce platform, Paytm has registered a 700 percent increase in overall traffic and 1,000 per cent growth in the amount of money over the last couple of days thanks to Narendra Modi's black money surgical strike. 

During this period, the transaction value continued to be 200 per cent of the average ticket size while the number of app downloads went up 300 per cent. The number of transactions per user also went up from 3 transactions to over 18 transactions in a week. This points to a strong set of repeat customers Paytm has now acquired.

Paytm has announced that its Android app had crossed the 50 million download on Google Play Store and with this the Paytm’s android user-base has now grown to over 75 million.
Paytm has worked with several OEM partners and 3rd party app stores to drive an additional 25 million android app users. Its steady iOS, mobile web and desktop users take its overall consumer-base to over 150 million. 

The company has also touched a record 5 million transactions a day and is on the way to process over Rs 24,000 Crores, more than any other payment network in the country.

Speaking on 50 million downloads, Deepak Abbot, senior vice president, Paytm said, “Reaching the 50 million downloads mark is a testimony to the efforts of the incredible team at Paytm. This achievement will offer us a strong boost as we work towards our target of bringing half a billion consumers on our platform.”

Presently, over 850,000 offline merchants across India accept Paytm as their preferred payment mode. Paytm is accepted literally everywhere such as taxi, autos, petrol pumps, grocery shops, restaurants, coffee shops, multiplexes, parking, pharmacies, hospitals, kirana shops, newspaper vendors and many more. Paytm can also be used to pay at thousands of apps and websites for services like recharges and bill payments, movie tickets, travel bookings, food ordering and shopping.

Within a year of launching its Online-to-Offline (O2O) payment solution, Paytm has emerged as the fastest growing QR Code-based POS network in the country. 

Being the segment leader in mobile payments and commerce, Paytm has partnerships with hundreds of thousands of outlets across various categories which include Future Group, More, Big Bazaar, Spencers, eZone, Croma, Fortis Health World, Indian Oil, Hindustan Petroleum, Mother Dairy, WHSmith, Haldiram’s, Vaango, KFC, Pizza Hut, Barista, Costa Coffee and many more.