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Paytm to invest Rs 5,000 cr towards growing e-transactions

Press Trust of India  |  New Delhi 

Digital payments major today said it will invest Rs 5,000 crore over the next three years as it looks to enhance and other payments facilities for customers through its platform.

The and SoftBank-backed company said it has unified 'bank transfers' under a new 'My Payments' feature on its app that will allow users to transfer money from one to another by using and IMPS methods.

Besides, customers can now also use the feature to make recurring, high value payment and other monthly expenses in an easy manner, said in a statement.

"is aiming to process Rs 60,000 crore in monthly alone by the end of this year... The company is also planning to invest Rs 5,000 crore in its core business, expecting to increase the number of transactions from 1 billion to 2 billion this year," Paytm said in a statement.

It added that the company has been educating customers to link their and using to pay for recurring use cases like house rent, business payments, fee, salaries and payments.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 20:25 IST