Paytm app crosses 50 Mn downloads on Google Play Store

Paytm has announced that its Android app had crossed the 50 mn installs landmark on Google Play Store in the second week of November 2016. With this, Paytm’s android user-base has now grown to over 75 Mn.

Paytm has worked with several OEM Partners and 3rd Party App Stores to drive an additional 25 Mn android app users. Its steady iOS, Mobile Web and Desktop users take its overall consumer-base to over 150 Mn. The company has also touched a record 5 million transactions a day and is on the way to process over Rs. 24,000 Crores, more than any other payment network in the country.

Speaking on the announcement, Deepak Abbot, Snr. Vice President - Paytm said, “Reaching the 50 million downloads mark 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 target of bringing half a bn consumers on our platform.”

Paytm is charting the next chapter in the evolution of the country’s app ecosystem with the Paytm Super app. Over 850,000 offline merchants across India accept Paytm as their preferred payment mode. Paytm is accepted literally everywhere such as taxi, autos, petrol pumps, grocery shops, restaurants, coffee shops, multiplexes, parking, pharmacies, hospitals, kirana shops, newspaper vendors and many more. Paytm can also be used to pay at thousands of apps & websites for services like recharges and bill payments, movie tickets, travel bookings, food ordering and shopping.

Within a year of launching its Online-to-Offline (O2O) payment solution, Paytm has emerged as the fastest growing QR Code-based POS network in the country. Backed by a large payment ecosystem of customers and merchants, the company registered a 700% increase in overall traffic and 1000% growth in the amount of money added to the Paytm account over the last couple of days. During this period, the transaction value continued to be 200% of the average ticket size while the number of app downloads went up 300%. The number of transactions per user also went up from 3 transactions to over 18 transactions in a week. This points to a strong set of repeat customers Paytm has now acquired.

Being the segment leader in mobile payments and commerce, Paytm has partnerships with hundreds of thousands of outlets across various categories. Some of its major offline partners include Future Group, More, Big Bazaar, Spencers, eZone, Croma, Fortis Health World, Indian Oil, Hindustan Petroleum, Mother Dairy, WHSmith, Haldiram’s, Vaango, KFC, Pizza Hut, Barista, Costa Coffee and many more. With its assertive focus on mobile payments, the company is inching closer to its aim of making cashless transactions a way of life across India.