The company's recent initiative of All-in-one QR across the country would held to achieve the target of doubling merchant base in the state.
India’s largest payments platform, Paytm, is aiming at doubling the merchants onboard from the existing 2 million by the end of next financial year 2020-21 in Gujarat.
“We are going to increase field staff by three-fold from the current 400 to 1,200 in Gujarat in order to double the merchant base. Moreover the company is all set to expand aggressively in smaller towns or semi-urban areas. At present, Paytm is having strong presence in tier-I and tier-II cities of the state, but now the company would expand its footprints in tier-III cities also,” said Ripunjai Gaur, vice president of Paytm.
Gaur claims that Paytm is having more 70 per cent share in digital payment segment in Gujarat as its on-boarding process for merchants is user-friendly and free of cost. The company’s recent initiative of All-in-one QR across the country would held to achieve the target of doubling merchant base in the state.
By the end of year 2019, Paytm has merchant base of 15 million across the country which the company wants to increase up to 25 million by the end of year 2025. Western region which comprises Gujarat, Maharashtra, Madhya Pradesh and Chhatisgarh is having merchant base of 3.7 million by the end of calendar year 2019. Paytm is aiming to increase it to 7 million by the end of current calendar year.
“Ahmedabad is at the forefront of digital payments and has witnessed an 80% growth in last 12 months. We will continue to add new-age banking & financial products to our Paytm for Business app to address the requirements of our merchant partners across the length & breadth of the country,” he said. In India digital payment users are growing at 30 per cent. From 160 million users in 2018, the user base has gone up to 210 million by the end of year 2019.