Paytm Payments Bank achieves 100 million UPI handles milestone

Paytm Payments Bank Ltd (PPBL) has announced that the total number of UPI handles on its platform has crossed the 100 million mark. This has added further impetus to its efforts towards offering business solutions to the merchant partners based on UPI’s strengths.

PPBL, in partnership with One97 Communications Ltd (OCL) that owns the brand Paytm, is leveraging its UPI network and innovative products to offer a host of services for merchants across the country. Paytm has weaved in the simplicity, and inclusiveness of UPI into its IoT devices and made the interface much more accessible and seamless to help it reach out to a much larger audience.

Paytm’s latest All-in-One QR accepts payments from all UPI-based platforms, thereby making the process of receiving payments easier and hassle-free for merchants & retailers. They are no longer need to keep several QRs from different companies, as customers can simply scan the Paytm All-in-One QR to make payments from any of his preferred payment platforms. Merchants can receive unlimited payments directly into their bank accounts at zero percent fees. It is the only QR in the country that accepts payment through Paytm Wallet, RuPay cards and all UPI-based platforms, therefore offering unmatched flexibility to users.

Similarly, Paytm All-in-One POS is another innovative product for small businesses and merchant partners across the country. This android device helps merchants to accept payments through all modes, including Paytm Wallet, all UPI based apps, Debit & Credit Cards and most importantly ‘Cash’. Besides accepting payments, merchants will also be able to generate GST compliant bills and manage all transactions and settlements through their ‘Paytm for Business’ app at one go. It is pre-bundled with cloud-based software for billing, payments, & customer management; and supports many industry-specific solutions.

Satish Gupta, MD & CEO Paytm Payments Bank said, “We have embraced UPI since its launch and have expanded its reach to the small cities and towns. Our focus remains on expanding UPI payments at offline retail stores. We will continue to leverage UPI into all our products and offerings. .”

PPBL continues to be India’s most comprehensive platform of funding sources. Besides 100 million UPI handles, there are 300 million wallets, 220 million saved cards and 55 million bank accounts on the platform.

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