Paytm Payments Bank registers lead in wallet, FASTAG, UPI, bill payments and money transfers
Homegrown Paytm Payments Bank has become the top enabler of digital payments in the country by registering over 970 million digital transactions in march this year. This achievement has been led by the growth in transactions on Paytm Wallet, Paytm Fastag, Paytm UPI, and internet
banking over the last several quarters. PPBL which is rapidly gaining the trust of millions of Indians is now opening on an average 1 million savings and current accounts a month. With over 64 million accounts, the bank’s total deposits have crossed over Rs 3200 crores. PPBL continues to be the largest beneficiary bank for UPI transactions and registers the highest success rate in the industry. It is also rapidly gaining traction as a remitter bank for UPI payments. The NPCI data also reveals that it has the lowest technical decline rate at 0.11% among all UPI remitter banks and 0.04% among all UPI beneficiary banks.