On this Wednesday, Paytm announced that its Android app has become “India’s first payments app to cross 100 million downloads on Google Play”, which is a big accomplishment for payment app. This android application has hit the milestone during the second week of December. The growth has evolved in the weeks after the Paytm app has received BHIM UPI functionality via Paytm Payments Bank.
Deepak Abbot, Senior Vice President of Paytm claims that it has become the most preferred payments app in the country, allowing users to scan its QR and pay at large merchants, grocery and kirana stores, milk-booths, local taxi/auto fares, petrol pumps, multiplexes, and restaurants among others. He also quoted that “We are overwhelmed with the 100 million downloads mark, reaching this milestone 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 goal of making India a digital-first economy,”
A month ago, Paytm has started rolling out BHIM-UPI compatibility via its payments bank. The compatibility was debuted and secured rank on Android but is yet to make its way onto iOS devices. It enabled users with a Paytm virtual payments address to make and accept payments via the BHIM-UPI framework.
Paytm, the payment application was founded in 2010 as a prepaid mobile recharge website, the company has transformed and emerged as the Paytm wallet in 2013. The company is owned by One97 Communications, ventured into the Indian banking sector by launching its flagship services, Paytm Payments Bank in November. It also offers a full-fledged e-commerce platform through a Paytm Mall, which received a dedicated app in the month of August this year.