NEW DELHI: Paytm has grabbed 50 per cent share within the funds to merchants (P2M) segment in India and the financial products and services platform has emerged as essentially the most built-in funds provider within the fintech utter, a new file acknowledged on Monday.
Paytm has a formidable presence within the tier 3 and below market with over 16 million merchants on its platform, in line with the file by RedSeer Consulting, a Bengaluru-based consulting and learn agency.
The file acknowledged that the new 160 million bizarre mobile fee users will multiply by 5 times to attain almost 800 million by 2025.
“Paytm has the very most attention-grabbing high of solutions capture and unaided awareness amongst merchants adopted by Phone Pe and Google Pay. When requested from which funds app create you catch funds, over 68 per cent of merchants cited Paytm,” the findings showed.
Paytm’s P2M consumers had the very most attention-grabbing pride leading with an NPS (earn promoter win) of 42 per cent.
In step with the RedSeer file, the Rate gateway aggregator market in India currently stands at Rs 9.5 trillion and is anticipated to grow by 2.4 times, driven by gigantic label transactions.
“It’s expected to grow at a CAGR of 19 per cent within the following 5 years to attain Rs 22.6 trillion by FY 2025. The rate gateway market this day is intensely competitive, and all leading gamers are combating for the market share. Paytm leads this pack and has grown the quickest,” it acknowledged.
Paytm’s all-in-one Android level of sale (POS) machine is touted as a highly customisable instrument that will per chance also be frail in masses of sectors.
“Paytm is on target to permit over half one billion other folks with digital financial products and services and offering banking products and services to the unbanked,” acknowledged Narendra Yadav, Vice President, Paytm.
“Going forward we can bring out more improvements within the fintech utter that will again transform India and per chance situation new examples globally”.
The firm has been profitable in turning into the largest player by manner of consolidated income of Rs 3,579 crore within the FY 2019.
Paytm offers a multitude of products and services like funds, insurtech, wealthtech, lending, Funds Bank, Rate Gateway, EDC, eCommerce and more.