wordpress blog stats
Connect with us

Hi, what are you looking for?

Paytm now has 200 million wallets

In a tweet, Paytm CEO Vijay Shekhar Sharma said that the company has crossed 200 million wallets. The tweet added that the total balance in the wallets is Rs 899.11 crore with 106.8 million wallets with money or with a card saved.

To put things in context, it is estimated that the number of Internet subscribers in India is 462 million in 2016, as indicated by Internet live stats. So going by this number, nearly 43% of India’s Internet subscribers are on Paytm. However, there isn’t an accurate figure on the number of monthly and daily active number of users.

During the early days of the demonetization drive, Paytm’s Deppak Abbot (senior vice president of product growth) indicated that there are around 41 million daily active users (DAUs). The number of monthly active users on desktop and mobile web was 40 million. We have written to the company for updated numbers and will update once we hear from them.

Advertisement. Scroll to continue reading.

Note that Paytm is now concentrating its efforts to onboard merchants and it recently said that it would be spending Rs 600 crore for the same. It currently has 5 million merchants and wants to hit 10 million merchants by the year end in over 650 districts.  The company has been leveraging its QR code payment system which also received a huge fillip following the demonetization. Paytm says that QR codes payments account for around 65% of overall transactions on its platform.

Paytm’s announcement for getting merchants came shortly after Visa, MasterCard, RuPay and American Express which launched the BharatQR an inter-operable QR code payment system for card networks and banks. Wallets and the UPI are not a part of the payment system yet.  Wallets’ QR code systems, such as Paytm’s, are a closed systems and work only between the wallet’s users.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Find out how people’s health data is understood to have value and who can benefit from that value.


The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ