Paytm looks to hit 12 billion transactions by end of FY20

Digital payments company Paytm on Wednesday said it is looking to more than double its transaction volume to 12 billion by end of 2019-20, from 5.5 billion in 2018-19. Paytm clocked 2.5 billion transactions in 2017-18.

Paytm said it achieved gross transaction value (GTV) of $50 billion in 2018-19, as compared with $25 billion a year ago. GTV is the value of total transactions done on the platform.

“This increase is a result of the rapid growth in the adoption of Paytm’s digital payments solutions across online and offline for multiple use cases including retail payments, fees, utility payments, travel booking, entertainment, games and more,” the company said in a statement.

Its subscription-based programme Paytm First that was launched in March has attracted half a million subscribers, the company said.