Paytm bets big on rural India

With 165 million users, digital payments platform Paytm believes that rural customers are using its service more than in urban areas.

Paytm Founder and CEO Vijay Shekhar Sharma said, “Rural customers are using Paytm more than urban customers. The ratio of gap is 4:3.”

Paytm recently announced a toll-free number to enable consumers and merchants without an Internet connection to pay and receive money instantly, and also recharge their mobile phones, keeping the rural market in mind.

To a query on transaction count post demonetisation, Sharma said, “Earlier, we used to see 2.5 to 3 million transactions a day. On a ‘great day’, we are crossing 3 million comfortably.”

“There are 3,000 towns with 10,000 to one lakh population that account for 17-18% of Paytm users, and this has seen a 250% increase in the last 10 days. Over 80% from towns above one lakh to 10 lakh population accounts to 42,” Sharma added.