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Paytm hits $5 bn GMV, clocks Rs 120 cr worth of daily deals

Company is currently doing more transactions than the combined average daily usage of credit and debit cards in India

Press Trust of India  |  New Delhi 

With people being compelled to switch to non-cash mode after the demonetisation move, digital payments company Paytm has been witnessing over 7 million transactions worth Rs 120 crore a day, helping it cross $5 billion gross merchandise value (GMV) sales, four months ahead of its target. GMV, which is an industry term for estimating the total worth of goods sold through a digital platform, for Paytm was $3 billion last year. The Alibaba-backed company, which offers both mobile payment platform and e-commerce marketplace, said it is now witnessing about 7 million daily ...

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First Published: Mon, November 21 2016. 14:58 IST
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