As our country adapts to the new world of social distancing, masks & gloves, Paytm, a digital payment platform, has seen a 200 % increase in broadband & data card bill payments, along with 42 % increase in mobile recharges and 30 % increase in spends on groceries during the lockdown. Paytm has ensured that people are able to make all essential payments from the safe confines of their home. The company has revamped the Paytm app UI with a ‘Stay at home Essential payments’ section to include Mobile & DTH Recharge, electricity, water, gas, credit card & insurance premium payment among others.
Please find below all major data pointers of various segments where Paytm has seen an increase for your ready reference. The data is from 22 March-15 April.
*42% increase in mobile recharges
*58% increase in DTH recharges
*200% increase in broadband/data card bill payments
*30% increase in spends on groceries
*30 % increase in payments at pharmacies
*15% increase in spends for milk
*60% growth in transactions on gaming platforms
*35% increase in transactions online grocery platforms
*230% increase in payments on streaming services
"During the ongoing lockdown, we are seeing increased adoption for essential payments such as recharges, utility payments, insurance premium among others. In fact, more users are relying on varied payment use-cases available on the Paytm app & our teams are ensuring to increase the partnerships. We are confident that more Indians will now understand the convenience of digital payments and will develop the habit as well." Paytm spokesperson said.
leading digital payments and financial services platform Paytm has been doing its bit to ensure that our fellow citizens can make all essential payments from the safe confines of their home. It' team worked dedicatedly to revamp the Paytm app UI with a ‘Stay at home Essential payments’ section to include Mobile & DTH Recharge, electricity, water, gas, credit card & insurance premium payment among others.
During this lockdown period, the company says that people have been making digital payments at their local kirana stores, dairy & pharmacies with their Paytm app. The per transaction volume has also gone up.
Paytm has been working to educate fellow citizens about COVID-19, and introduced an ‘Information and Help Center’ under the #IndiaFightsCorona section on its app. This section also has a COVID-19 self-assessment scanning tool, which helps people to understand if someone is potentially at risk of suffering from the virus. Also, the company is providing free access to dozens of national & regional newspapers on the Paytm app.
Paytm's started supporting the fight against COVID-19 soon after the pandemic hit India. When the government launched the PM-CARES fund, the company joined the noble cause by aiming to raise Rs. 500 crore with the support of its users. Also under ‘Feed My City’ initiative, Paytm is providing meals to daily wage earners in Mumbai, Bengaluru, Chennai, Hyderabad & Noida in association with KVN Foundation. The company is requesting fellow citizens to support these initiatives by donating through their Paytm app. An overwhelming number of people have already contributed to both the initiatives.