Paytm clocks Rs 5,000 cr worth transactions in Jan

Paytm, Paytm, O2O solutions, Online to Offline, Shopsity, start up, start up news
Paytm, O2O solutions, Online to Offline, Shopsity, start up, start up news

Spurred by demonetisation, online payments platform Paytm clocked Rs 5,000 crore worth of transactions in the month of January, Paytm’s founder Vijay Shekhar Sharma said at Mumbai recently.

Sharma told reporters at Mumbai on the sidelines of Nasscom India Leadership Summit.
“We clocked Rs 5,000 crore worth of transactions in January alone, that’s 200 million transactions in volume terms.
This was about 11 per cent up from December transactions on the payments platform, he added.”

The company is looking to launch its payments bank by the end of this month, Sharma said.
In december last year, One97 Communications, the parent company of digital payments company Paytm, issued a public notice that it would be transferring its wallet business, after necessary approvals, to the newly-incorporated Payment Bank entity.

Sharma who had made an Rs 112-crore investment for his majority stake in the payment bank, did not welcome the news that the RBI had issued in-principle licence for payment banks to Vijay Shekhar Sharma, who holds 51-percent stake in the joint entity. The entity now is in process of obtaining the final licence from RBI to start operations. This new announcement also spells a clear split between Paytm’s e-commerce business and its payments arm.

LEAVE A REPLY

Please enter your comment!
Please enter your name here