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Offline Merchant and Store Network to Reach 4 mn – Paytm

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Paytm, India’s mobile payments and commerce platform is aiming to double its offline merchant store network to reach four million merchants this year, as it looks to create more use cases for its wallet and payment bank business. “This year, we will be present offline in every nook and corner,” said Vijay Shekhar Sharma, CEO at Paytm. “Our offline payments will become as big as our online payments.”

Currently, the Noida-based startup does 3.5 million offline transactions in a month worth $8.5 million, excluding mobile recharges. It estimates transactions in the offline business alone to grow 10 times to 35 million by the year end. “As Paytm continues growth in tier 2-3 town, we want to enable our unbanked and underbank customers to enable them to add money to their Paytm wallets through physical add cash points, bank network and ATM,” said Sinha. Read more

Sweekar S

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