Paytm pips rivals in Indian digital payments segment

With digital payments picking up steam, the largest digital payments company in India, Paytm, has managed to grab a lion’s share in the market clocking higher gross value transactions than its immediate peers. Data sourced from industry sources showed that Paytm facilitated transactions worth Rs 20,000 crore through its platform in April, while rival PayU India clocked transaction worth Rs 10,000 crore and Razorpay clocked nearly Rs 3,000 crore during the same period.

The payments firm, backed by Soft-Bank and Alibaba, said it was processing more than 400 million transactions every month which was “five times higher than the next largest player.” Incidentally, PayU managed to clock half of Paytm’s gross transaction value with 55-60 million transactions.