Digital payment company Paytm today said it has seen 35 million transactions for mobile and DTH recharges on its platform post the government's move to scrap Rs 500 and 1,000 notes.
Paytm claimed that over 70 per cent of online mobile and DTH recharges done in the country are now being conducted on its platform.
"Paytm has registered a strong surge in online recharges on its platform post the government's move... As millions of new consumers tried online recharges for the first time, Paytm has registered over 35 million online recharges in the last few days," Paytm said in a statement.
"Millions of new consumers across the country have adopted digital, cash free recharges and bill payments for the first time. We also noticed a trend of users recharging over 5-6 mobile numbers online to assist friends and family," Paytm Senior Vice-President Shankar Nath said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.