India’s largest payments and commerce platform, Paytm announced that its Android app had crossed the 50 million installs landmark on Google Play Store in the second week of November 2016. With this, Paytm’s android user-base has now grown to over 75 million.
Paytm, which is leveraging on the unprecedented growth in offline payments, said its iOS, Mobile Web and Desktop users take its overall consumer-base to over 150 Mn. The company has also touched a record 5 million transactions a day and is on the way to process over Rs. 24,000 Crores.
Speaking on the announcement, Deepak Abbot, Snr. Vice President, Paytm said, “Reaching the 50 million downloads mark is a testimony to the efforts of the incredible team at Paytm. This achievement will offer us a strong boost as we work towards our target of bringing half a billion consumers on our platform.”
Paytm has partnerships with hundreds of thousands of outlets across various categories, which include Future Group, More, Big Bazaar, Spencers, eZone, Croma, Fortis Health World, Indian Oil, WHSmith, KFC and others. With its focus on mobile payments, the company is inching closer to its aim of making cashless transactions a way of life across India.