Katpadi outpaces rest of IN, emerges as Paytm’s digital growth node
NEW DELHI: Delhi-NCR has emerged as India’s digital payments capital, whereas Tamil Nadu’s Katpadi is the fastest growing city for digital payments with 7X growth in 2022, as per Paytm 2022 Recap, which highlights interesting trends of transactions made through Paytm in the last year.
The report of One97 Communications Limited (OCL) that owns the brand Paytm, shows Chennai and Tiruchy as having the highest percentage of offline payments on food and beverages while Amritsar saw the highest spend on health and grooming through Paytm.
Noida and Nagpur saw the highest percentage of spending via Paytm on micro sellers or street side vendors. Paytm’s market in the North East also saw huge growth. The fastest growing cities in the North East for UPI transactions are – Lohit in Arunachal Pradesh, South Sikkim and Ranipool, and Assam’s Guwahati, Dibrugarh, Jorhat and Kamrup.
One user has made transactions in 106 cities across 20 states. Another user booked flights between Mumbai and Delhi 358 times using the Paytm app.
An intriguing observation is the maximum number of payments have been done at 7.23PM with Wednesday emerging as the busiest day in the week for digital transactions. Two of the most common names among Paytm’s users are Rahul and Pooja. The company helped its users avoid 1,618,796,629 trips to ATMs.
Paytm claims to have more than 5.5 million merchants now paying subscriptions for payment devices.
With Paytm UPI, the company enables seamless money transfers. One user referred over 1,300 of his friends and family to Paytm last year and earned over Rs 1 lakh.
Engaging observations have been seen in merchant transactions with ₹20 being the most common amount paid on Paytm merchant QRs. Varanasi has seen 213% growth in offline QR transactions.
During the online Deepavali sale season, the highest amount spent by a single user was Rs 2.8 lakh. Another festival that saw a high volume of Paytm UPI transactions is Rakhi, with Rs 1,100 being the favourite shagan.