Delhi makes most payments between midnight and 6am.
An interesting finding from the report is that the maximum number of payments are made on Saturday, making it the busiest day of the week for digital transactions. With most payments made between midnight and 6 am, Delhi has become Paytm’s night owl.
One97 Communications Limited (OCL), the owner of payments and financial services company Paytm, has announced the release of Paytm Summary 2023. The summary shows payment numbers and user engagement on the app its use.
Users can also check out their personal payments journey with Paytm in 2023 through paytm.com/recap. Paytm recorded strong in-store payment figures with over 92 lakh devices pioneered by Paytm like Soundbox, Card Machine, etc. in the quarter ending September 2023. A total of 912 crore merchant payments were made using Paytm in Q2FY24. Paytm was the first company to launch QR code and confirmation based payments Instant sound with Soundbox device. This year, the company launched three new Paytm Soundbox devices for merchants: Pocket Soundbox, Music Soundbox and Card Soundbox.
An interesting finding from the report is that the maximum number of payments are made on Saturday, making it the busiest day of the week for digital transactions. By making most payments between midnight and 6 am, Delhi has become Paytm’s night owl, outperforming cities like Hyderabad, Bengaluru, Chennai and Goa.
“The company’s report shows the widespread adoption of Paytm’s pioneering QR codes and points out that if all the Paytm QR codes used this year were stacked together, they would be larger than 40 Qutub Minars, ” it said in an announcement.
The company is expanding digital payments everywhere, thereby driving financial inclusion as it is adopted in the most remote parts of the country, with users coming from places like Dharwas in Himachal Pradesh and Laitmawsiang in Meghalaya.
There were some interesting observations during the year with Rs 20 being the most popular amount paid by Paytm users. Facilitating payments of over 55 lakh challans worth over a staggering Rs 179 crore, the company has provided users with a convenient way to clear fines and fees.
“Over the past year, users have made payments to our robust commerce base worth ₹3.75 crore, across the country, supporting businesses of all sizes,” the company said.
A Paytm spokesperson said: “As the pioneer of QR codes, sound boxes and mobile payments in India, we continue to see widespread acceptance of Paytm, with growing adoption by consumers and sellers.
In 2023, we achieved new milestones and further strengthened our leadership in payments. We continue to be at the forefront of technology for small shops in India and remain focused on driving financial inclusion in India.
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