Capitalising the demonetisation move, Paytm has witnessed over seven million transactions worth Rs 120 crore a day to achieve over $5 billion gross merchant value (GMV) sales ahead of its four-month target.

Commenting on the development, Paytm Vice President Sudhanshu Gupta said, “Backed by a strong payment ecosystem of Paytm, and more merchants on board, the company has been able to serve 45 million users in last 10 days.”

“Paytm is registering over 7 million transactions worth Rs 120 crore a day, as millions of consumers and merchants across the country are trying to make mobile payments on our platform for the first time,” said Gupta.

“From consumers being able to pay for a cup of coffee in metros, to farmers purchasing seeds using Paytm in Kurnool, we are witnessing an exponential increase in the adoption of Paytm as a way to pay by both consumers and merchants alike,” he said.

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