Paytm to invest Rs. 600 Crore to expand network

By Shrey Pacheco | Published on 20 Feb 2017

The company plans on scaling up manpower, technology as well as providing merchant education

Paytm to invest Rs. 600 Crore to expand network

Want to modernise your banking loan application?

Build an application that analyses credit risk with #IBMCloud Pak for Data on #RedHat #OpenShift

Click here to know more


Paytm has announced that it will invest over Rs. 600 crore to enable merchants in the country to start accepting digital payments using QR code based solutions. The company says that beside scaling up manpower and technology, it will also invest in merchant education so that they will be able to transact digitally. The company aims to have over 10 million merchants on its platform by the end of the year, and claims that it is adding close to a million merchants a month.

Kiran Vasireddy, Sr. Vice President of Paytm stated, “We are on a mission to democratize digital payments. Our zero% merchant transaction fee coupled with an aggressive merchant acquisition rate, will help us take QR Code based payments to every nook and corner of this country. We will invest 600 Cr this calendar year, which will be used for scaling up merchant acquisition teams, marketing and cash-backs. We will have over ten million merchants on our platform before Dec’17, which also puts us on the right path to build one of the largest payment networks in the world.”

Last month, Paytm got approval for its Payments Bank from the Reserve Bank of India (RBI). This will allow the company to move its wallet platform into the new payments bank. Transfer of Paytm wallet money from the wallet to Paytm’s Payments Bank will be free. However, the company will charge a two percent fee when transferring money from the wallet to their bank accounts. Paytm’s Payments Bank is scheduled to go live tomorrow.

Shrey Pacheco

Writer, gamer, and hater of public transport.

Digit caters to the largest community of tech buyers, users and enthusiasts in India. The all new Digit in continues the legacy of as one of the largest portals in India committed to technology users and buyers. Digit is also one of the most trusted names when it comes to technology reviews and buying advice and is home to the Digit Test Lab, India's most proficient center for testing and reviewing technology products.

We are about leadership-the 9.9 kind! Building a leading media company out of India.And,grooming new leaders for this promising industry. Protection Status