Delhi-NCR has emerged as the digital payments capital of India, while Katpadi in Tamil Nadu is the fastest growing city for digital payments with a 7x growth in 2022, said One97 Communications Ltd (OCL), a leading payments and financial services company. The company owns Paytm, said a report on Wednesday.
paytm recap 2022
The company helped its users avoid 1,618,796,629 trips to ATMs. Paytm is taking digital payments far and wide, promoting financial inclusion with two out of every three new users coming from smaller cities and towns.
According to the Paytm 2022 Recap report, which highlights interesting trends in transactions done through Paytm in 2022, Paytm UPI with its superfast and secure payments is one of the most preferred payment methods for Indians.
— Paytm (@Paytm) December 28, 2022
An interesting observation is that maximum payments have been made at 7.23 pm with Wednesday as the busiest day of the week for digital transactions.
As per the report, the two most common names among Paytm users are Rahul and Pooja.
In Tamil Nadu, Chennai and Trichy have the highest percentage of offline payments on food and beverages, while Amritsar has the highest percentage of spending on health and beauty through Paytm.
Noida and Nagpur saw the highest percentage of spends through Paytm at micro sellers or street vendors. Paytm’s market in the North East also saw huge growth.
The fastest growing cities in the North East for UPI transactions are Lohit, South Sikkim and Ranipool in Arunachal Pradesh, and Guwahati, Dibrugarh, Jorhat and Kamrup in Assam, the report noted.
“As the pioneer of QR and mobile-based payments in India, we continue to see widespread love for the most trusted payments app – Paytm,” said a company spokesperson.
“Over the past year, we have seen greater adoption among consumers and merchants, which has led to some interesting trends with Paytm UPI. With the trust placed in us by our users, we are focused on driving financial inclusion in India,” the spokesperson said.
A user transacted across 106 cities in 20 states. The report states that another user booked flights between Mumbai and Delhi 358 times using the Paytm app.
Paytm continues to strengthen its leadership in offline payments with over 5.5 million merchants now paying subscriptions to payment instruments.
Paytm Soundbox is the voice of merchant transactions in India, greeting a new merchant and their customers every six seconds.
With Paytm UPI, the company enables seamless and superfast money transfers. A user referred over 1,300 friends and family to Paytm last year and earned over Rs 1 lakh.
“With Rs 20 being the most common amount to be paid on Paytm Merchant QR, merchant transactions have witnessed a fascinating observation. Varanasi has seen a 213 percent increase in offline QR transactions.
The highest amount spent by a single user during the online Diwali sale season was Rs 2.8 lakh.
Another festival that saw a high volume of Paytm UPI transactions is Rakhi, with a Rs 1,100 favorite “Shagan”.
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