912 cr merchant transactions on Paytm in Q2FY24; Delhi makes most payments from 12-6 a.m.

One97 Communications Limited (OCL), which owns Paytm, said on Wednesday that a whopping 912 crore merchant payments were made using the leading financial and payments provider in the second quarter (Q2) of FY24.

When it comes to making most payments between 12 midnight and 6 a.m., Delhi outshined cities like Hyderabad, Bengaluru, Chennai and Goa, according to the ‘Paytm Recap 2023’ report.

The Recap showcases a year of leadership in payments and incredible user engagement on its app.

“As the pioneer of QR code, soundbox and mobile payments in India, we continue to see widespread acceptance of Paytm, with increased adoption among both consumers and merchants,” said a Paytm spokesperson.

“In 2023, we achieved new milestones and further cemented our leadership in payments. We continue to lead technology for India’s small shops and remain focused on driving financial inclusion in India,” the spokesperson added.

If all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars.

Over 55 lakh challans worth a staggering Rs 179+ crore were paid on Paytm, enabling users to settle dues in a convenient way, according to the company.

Paytm continues to strengthen its leadership in in-store payments, with more than 92 lakh Paytm pioneered devices such as Soundbox, Card Machines, etc. in the quarter ending September 2023.

Paytm was the first to launch QR code-based payments, and instant audio confirmation with the Soundbox device.

This year, the company launched three new Paytm Soundbox devices for merchants — Pocket Soundbox, Music Soundbox, and Card Soundbox.

“An intriguing observation is that the maximum number of payments have been made on Saturday, making it the busiest day in the week for digital transactions,” said the company.

Users from places like Dharwas in Himachal Pradesh and Laitmawsiang in Meghalaya have made ‘Paytm Karo’ an integral part of their lives.