Currency Crisis: Paytm Claims 35 Million Online Recharges Done Over Last Few Days
While there are 740 million cards in India at present, the number of card swiping machines is at a dismal 1.5 million. (Image: Paytm)
Digital payment company Paytm today said it has seen 35 million transactions for mobile and DTH recharges on its platform post the government's move to scrap Rs 500 and 1,000 notes.
Paytm claimed that over 70 percent of online mobile and DTH recharges done in the country are now being conducted on its platform.
"Paytm has registered a strong surge in online recharges on its platform post the government's move... As millions of new consumers tried online recharges for the first time, Paytm has registered over 35 million online recharges in the last few days," Paytm said in a statement.
"Millions of new consumers across the country have adopted digital, cash free recharges and bill payments for the first time. We also noticed a trend of users recharging over 5-6 mobile numbers online to assist friends and family," Paytm Senior Vice-President Shankar Nath said.