Paytm Users In India: Fascinating Facts & Statistics

Paytm Users In India Fascinating Facts Statistics

Paytm is the Indian multinational tech company with hundreds of millions of users. The company specializes in e-commerce, payment systems and financial technology.

Paytm is valued at $10 billion, as of January 2018. 

This huge conglomerate was founded in August 2010, over a decade ago, and has its headquarters in Noida, Uttar Pradesh, India.

Over 7 million merchants all over India use the Paytm QR code payment system.  

Paytm is available in 11 Indian languages and is currently used for various types of mobile recharges, utility bill payments, event bookings, travel, movies, and in-store payments.

By the way, did you know that “Paytm” is short for “pay through mobile”? Continue reading below to discover more interesting facts about Paytm users in India and other mind-blowing Paytm statistics.

Facts About Paytm Users

  • Paytm has more than 450 million registered users.
  • $2 million was the initial investment made by Paytm founder, Vijay Shekhar Sharma, in 2010.
  • Paytm has 39 million daily active users.
  • Paytm has generated 36.29 billion INR ($510 million) in 2019.
  • Over 70 million games are played on Paytm Gamepind each month.
  • 89% of users aged between 16 to 24 years prefer Paytm.
  • India’s payments market is estimated to be worth $1 trillion in the next three years.
  • 5 million Paytm transactions are processed every day.
  • 850,000 offline merchants currently use Paytm.
  • There are 2 times more men than women who use Paytm.
  • 70% of Paytm users have an Android device.
  • A 1000% growth in money added to the average Paytm account has been recorded.

How Big is Paytm?

Paytm is India’s biggest payment provider and it continues to grow by 15% each month in the country’s rural areas, mostly for offline merchants.

How many people use Paytm in India?

Over 450 million people have registered to Paytm.

These numbers were presented by eBay in 2019 when the international giant expanded its presence in India through Paytm Mall Integration. 

Number of active Paytm users

More than 130 million Indians use Paytm on a monthly basis.

These numbers are constantly growing, directly proportional to the global and Indian economy.

Number of Bank accounts on the Paytm bank platform

Approximately 60 million bank accounts are currently present on the company’s bank platform.

As part of the Digital India mission, the company plans to have more and more Paytm customers, thus bringing India into the 21st century through digitization.

Number of Paytm employees

+5,000 people call Paytm their place of work.

With offices in four major cities, Delhi NCR, Bengaluru, Mumbai and Toronto (in Canada), Vijay Shekhar Sharma, the company’s Founder & CEO is always looking for new talent.

Number of Paytm FASTags

More than 6 million FASTags are currently installed across India.

Paytm sellers are adopting the PPBL (Paytm Payments Bank Ltd) cashless toll payments with over 250 plazas in India having already enabled this payment processing method. 

The average number of daily Paytm transactions

At a very rapid pace, Paytm has become India’s number 1 payment processor. 

5 million Paytm transactions are processed every day.

The company stated that it’s currently on its way to processing $3.5 billion in payments and money transfers. 

The average number of weekly transactions per User

While it may prove difficult to keep track of these numbers, as they are not made available to the public in real time, the latest figures show that:

The average Paytm user makes 140 weekly transactions.

This is largely due to the fact that Paytm offers 20 free transactions per day.

Total Number of Paytm merchants

As part of India’s efforts to become a cashless society in the next couple of decades, Paytm is coming up with fast and efficient solutions for this process to go as smoothly as possible.

The company currently has over 15 million merchants.

Paytm merchants are growing each day in numbers, as the company is India’s top industry player when it comes to payment processing methods.

Number of Offline Paytm merchants

850,000 offline merchants currently use Paytm.

The numbers provided by Tech in Asia show a huge discrepancy between the offline and online Paytm merchants. 

Paytm Usage

Is Paytm safe to use?

In the past couple of years, numerous Whatsapp, Facebook, and Telegram groups about earning money through Paytm have been created. Is Paytm safe, you ask? Yes. 

However, it’s best to stay away from those types of groups, as they can be home to many online scammers.

  • 70% of Paytm users have an Android device
  • Only 4% of Paytm usage comes from iOS devices
  • 14% of Paytm usage is done via mobile web
  • Just 1% of Paytm usage comes from Windows OS devices

As India’s largest financial services company, offering full-stack payments and financial solutions to consumers, offline merchants, and online platforms, Paytm is one of the safest and most efficient options available today. 

Demographics of Paytm users in India

Paytm is used all over India, and with a country consisting of such a diverse and complex demographic, you are bound to find people of all ages, genders and incomes using some form of Paytm product or service.

Men vs women

There are 2 times more men than women who use Paytm.

Statista revealed these numbers based on the responses collected from 5,085 female and 10,381 male participants.

Age groups

  • 74% of users aged between 55 years and above prefer Paytm.
  • 84% of users aged between 45 to 54 years prefer Paytm.
  • 86% of users aged between 35 to 44 years prefer Paytm.
  • 87% of users aged between 25 to 34 years prefer Paytm.
  • 89% of users aged between 16 to 24 years prefer Paytm.

The numbers are provided by Statista, as of February 2020.

Cities vs Towns

While Paytm is mostly used in big cities, the company is growing very rapidly in rural areas, in their attempt to remain the top player in India’s payment processing industry. 

  • Transaction values have risen 30-35% in tier-II geographies and beyond.
  • Paytm’s share of transactions from tier-II, -III, and -IV locations, has increased from 60% to 67% in the past six months.
  • Over 3.6 million merchants in rural areas have signed up with Paytm Payments Bank.

Paytm Payments Bank (PPB) declared that they’ve witnessed a significant rise in smaller towns from the market share of Paytm which was around 50% in 2018.

Income groups

No matter the income group a person finds himself in, they will use one Paytm product or service at one point in their lifetime. 

22.42 average transactions per capita, from all income groups

According to the Statista’s latest report, the Indian payment industry will continue to grow in the following years.

How Much Is Paytm Popular in India?

Paytm is by far the most popular payment method in India and its number of users is growing by the day.

Average monthly orders made using Paytm

  • A 1000% growth in money added to the average Paytm account has been recorded.
  • 60 million is the average monthly orders made through the platform.

Number of Paytm App downloads

Over 100 million downloads have been recorded for the Paytm App.

However the numbers keep on growing each year.

Percentage of Paytm usage coming from Android Devices

70% of Paytm’s usage comes from Android users.

This means that Paytm revenue is highly dependent on non-iOS devices. Android devices are more popular in India, and this reflects also in Paytm’s user demographics.

Percentage of Paytm usage coming from iOS devices

Only around 4% of Paytm usage comes from iOS devices.

As stated in the previous statistic listed above the Paytm share market for iOS devices is still small in comparison with their Android counterparts. 

How many people use Paytm Inbox?

Over 27 million active users choose to go to Paytm Inbox on a monthly basis.

The latest data made available for the public shows the numbers for late 2019.

Number of games played monthly on Paytm Gamepind

Over 70 million games are played each month.

Judging by these numbers, we can obviously see that Paytm games generate a lot of revenue and are an important asset for the company.

Revenue and Market Share

Paytm is still a leading payment provider in India, alongside its biggest competitors: Google Pay, PhonePe, BHIM and Amazon Pay. 

Paytm revenue and market share

Paytm has generated 36.29 billion INR ($510 million) in 2019.

While their competitors generated the following numbers: PhonePe reached 4.27 billion INR ($60 million, 2019–2020), Flipkart made 436.2 billion INR ($6.1 billion, 2019) and Snapdeal did 9.25 billion INR ($130 million, 2019).

Paytm growth rate

Paytm has a 15% monthly growth in India.

The country’s leading payment provider continues to grow by 15% each month in offline merchant payments.

Paytm marketing trends

  • The company offered Rs. 2100 ($28) in scholarship for 10,000 users who help increase digital inclusion and adoption of Paytm.

Paytm continues to push efforts for a cashless India.

  • The ‘Scan any QR to pay using Paytm’ scheme has been launched in 7 languages 

The languages used by Paytm for this marketing initiative are Bengali, Marathi, Gujarati, Tamil, Telugu, Kannada, and Malayalam.

  • Paytm gave a Rs. one crore grand prize ($133,000) to incentivize people to make transactions

In addition to the grand prize, the company also gave out motorcycles, smartphones, laptops, and other exciting gifts, as part of their marketing efforts to popularize Paytm. 

Paytm Payments Bank limited profit (annual)

  • Rs. 29.8 crore ($3,975,957.72) for FY 2020 (Fiscal Year 2020)
  • Rs. 19.2 crore ($2,560,016.64) for FY 2019 (Fiscal Year 2019)

As you can see, there’s a Rs. 10.6 crore ($1,413,342.52) growth in profit in just 1 year.

Paytm competitors

Let’s go over the TOP 10 Paytm competitors in India and see how they match up:

Paytm

CEO: Vijay Shekhar Sharma

CEO RATING: 84/100

EMPLOYEES: 5,000

FUNDING: $4B

REVENUE: $494.5M

MobiKwik

CEO: Bipin Preet Singh

CEO RATING: 79/100

EMPLOYEES: 325

FUNDING: $213.5M

REVENUE: $53.2M

PhonePe

CEO: Sameer Nigam

CEO RATING: 69/100

EMPLOYEES: 1,200

FUNDING: $1.4B

REVENUE: $26.5M

Freecharge

CEO: Siddharth Mehta

CEO RATING: 82/100

EMPLOYEES: 600

FUNDING: $211.6M

REVENUE: $11.6M

Oxigen

CEO: Pramod Saxena

CEO RATING: 47/100

EMPLOYEES: 639

FUNDING: $42.5M

REVENUE: $5.5M

Instamojo

CEO: Sampad Swain

CEO RATING: 70/100

EMPLOYEES: 140

FUNDING: $11M

REVENUE: $3.9M

You Dedicated

CEO: Mitesh Shethwala

CEO RATING: 65/100

EMPLOYEES: 43

FUNDING: – – –

REVENUE: $3.6M

Zeta

CEO: Bhavin Turakhia

CEO RATING: 86/100

EMPLOYEES: 450

FUNDING: $100M

REVENUE: $2M

CC Avenue

CEO: Vishwas Patel

CEO RATING: 82/100

EMPLOYEES: 70

FUNDING: $8.9M

REVENUE: $5M

PayU biz

CEO: – – –

CEO RATING: – – –

EMPLOYEES: 1,200

FUNDING: – – – 

REVENUE: $ < 1M

Pay World

CEO: Praveen Dhabhai

CEO RATING: 61/100

EMPLOYEES: 300

FUNDING: – – –

REVENUE: $246M

The data has been provided by Owler.com, in their attempt to rate all of India’s leading payment and fintech companies.

Conclusion

Due to the COVID-19 pandemic and to the Indian population’s lack of trust in their printed currency (Indian Rupee), digital payments, credit and debit cards and any other new payment method are seeing substantial growths.

India’s push toward cashless payments accelerated in 2019. Mobile payments managed to bypass card payments and rose by a staggering 163%, reaching the total number of $286 billion in 2019. 

The number of Paytm users in India is constantly expanding and chances are, judging by the latest and most updated Paytm statistics, that they will reach record high figures year after year. 

What are your predictions about India’s current payment methods and providers? What about other future payment options?

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