Paytm revamps app, aims exponential growth in money transfers this year

Leading payment gateway Paytm has revamped its app with updates which personalise the user’s experience and makes money transfer simpler and faster. It is offering instant transfers to Paytm Payments Bank, Paytm wallet and any bank account for a charge of zero per cent. 

Paytm has moved from being a wallet to a full stack payments provider by offering multi-source and multi destination solutions. Combined with its reach to seven million offline merchants, it has achieved a billion transactions per quarter, the company claimed.

“With this revamp, Paytm aims exponential growth in money transfers this year. It has been educating users to link their bank accounts and experience instant transfers,” the company said. 

“The new design has upgrades to some of the most important flows, including money transfer. Our offline payments have scaled up as we pioneered Paytm QR, enabling merchants to accept payments directly into their bank accounts,” said Kiran Vasireddy, chief operating officer at Paytm.