Diwali season: Paytm Wallet processes $1.6-bn transactions

60% of growth comes from Tier-II and Tier-III cities

Digital wallet major Paytm on Monday announced that it processed over $1.6 billion worth of payments on its platform during the month-long Diwali festive season spanning from September 20 to October 20. 

The platform witnessed 3.5 times increase in online and offline payments during the festive season as more consumers used its payments service during September 20 to October 20 as compared to the same period last year. 

“Paytm registered growth across all its payment use-cases and categories. Food outlets, transportation and offline retailers have contributed the most to the overall surge in transactions, with more than 60 per cent of the