78% of Paytm’s 325 million account holders use their service daily. Their Wallet services are seeing a increase in growth of 15% transactions every month.

Paytm Payments Bank has registered 970 million digital transactions in March 2021 with growth report across its various domains, it includes Wallet, UPI, and internet banking, among others. The Noida-based company is opening an average of one million current and savings accounts per month.

78% of Paytm’s 325 million account holders use their services daily. Their Wallet services are seeing a growth of 15% transactions month-on-month. Citing the NPCI data, Paytm stated it has the lowest technical decline rate at 0.11% among all UPI remitter banks, which has enabled it to become one of the biggest beneficiaries for UPI transactions. Google Pay, PhonePe, and BharatPe are other big players that lead the UPI transaction landscape in India.

The pandemic has fuelled a massive growth in digital payments in India, especially across tier-2 and tier-3 cities across the country. According to report by ACI Worldwide and Global Data Payments enabled by UPI more than doubled from April 2020 and helped India attain the tag of the world's largest real-time digital payments market, outperforming the USA and China. The report also stated that by 2025, over 70% of all payment volumes in India are expected to go digital, leaving cheques and cash at below 30%.