In June 2023, the Paytm Payments Bank acted as the remitter bank for over 407 million UPI-transactions in India. This figure fluctuated over the last one year. The Paytm Payments Bank is one of the new payments banks in India licensed in 2015. They provide mainly online and mobile payment services and cannot issue credit or loans cards.
Unified Payments Interface (UPI) is a product of the National Payments Corporation of India (NPCI) and was launched in 2016. It allows users of payment service providers like PhonePe or GooglePay to use NPCI as switch to connect with banks and transfer money. It is more user-friendly than older transaction modes such as IMPS.
Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023
(in millions)
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NPCI. (August 3, 2023). Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in millions) [Graph]. In Statista. Retrieved December 27, 2024, from https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/
NPCI. "Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in millions)." Chart. August 3, 2023. Statista. Accessed December 27, 2024. https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/
NPCI. (2023). Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in millions). Statista. Statista Inc.. Accessed: December 27, 2024. https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/
NPCI. "Total Volume of Upi-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in Millions)." Statista, Statista Inc., 3 Aug 2023, https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/
NPCI, Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in millions) Statista, https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/ (last visited December 27, 2024)
Total volume of UPI-transactions from Paytm Payments Bank in India from January 2020 to June 2023 (in millions) [Graph], NPCI, August 3, 2023. [Online]. Available: https://www.statista.com/statistics/1226046/india-total-upi-transaction-volume-from-paytm-payments-bank/
