Report: PayTm Is Leading On Merchant Payments With Over 50% Market Share

  • According to Redseer report, PayTm merchant payments gateway is leading with over 50% market share.
  • Paytm is leading with 50% market share, followed by PhonePe at 30%, Google-Pay 10% and others at 10% market share.
  • India is having more than 160 million unique mobile payment users and the number is exepected to reach 800 million by 2025.

Indian e-commerce payment system and financial company PayTm is leading merchant payments gateway with over 50% market share in India. Followed by PhonePe at 30%, Google-Pay at 10% and others at 10%.

According to the Redseer report, PayTm (Pay Through Mobile) is having a strong presence in tier 3 cities, having more than 16 million merchant on its platform.

In the mid 2018, PayTm announced that they are going to invest Rs 750 crores to reach 250 million monthly active users till March 2020.

Furthermore, The latest report revealed that India is having approx 160 million mobile payment users and the number is expected to reach 5 times, more than 800 million by 2025.

According to a report Bernstein, Google-Pay was having the highest market share in May during the COVID-19 pandemic. Reports revealed that Google-Pay was having 38.6% market share, Followed by PhonePe at 19.8%, PayTm at 15.1%, Amazon Pay at 16% and others at 10.7%.

 “The Payment gateway aggregator market in India currently stands at INR 9.5 Trillion and it is expected to grow by 2.4x driven by large value transactions. It is expected to grow at a CAGR of 19% in the next 5 years to reach INR 22.6 Trillion by 2025. The payment gateway market today is very competitive, and all leading players are fighting for the market share by offering best offers to its customers. Paytm leads this pack and has grown the fastest.” said, RedSeers report.

Also Read: Tata Group Owned Tata Digital Now To Launch ‘Super App’ To Offer Various Digital Services To Its Users

Responding to the RedSeer report, Narendra Yadav, PayTm Vice President said, “We are happy by the observations made by RedSeer Consulting and their astute analysis of the fintech space in India. We thank them for recognising our efforts to make India and Bharat a digitally enabled Atma Nirbhar economy.”

“Paytm is on track to enable over half a billion people with digital financial services and providing banking facilities in the country. Going forward we will bring out more innovations in the fintech space that will help transform India and possibly set new examples globally.” he added.

Moreover, PayTm got this achievement because of its services and offers to its customers. Paytm is targeting more and more local shops of small cities to grow their merchant platform by offering them services like no fee charges etc.

PayTm Is Leading On Merchant Payments With Over 50% Market Share
Paytm offers to its merchant partners

The company has been successful in becoming the largest mobile payments platform in terms of consolidated revenue of Rs 3,579 crore in the FY 2019.

Recent Stories

More On IndianStartupNews