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How Narendra Modi's Move benefitted Paytm?
By: Tupaki Desk | 10 Nov 2016 7:06 AM GMT
Paytm welcomed the decision of Prime Minister Narendra Modi to impose a ban on old currency notes of Rs 500 and Rs 1000 denominations.
In the press release issued by Paytm in Bengaluru, General Manage Sonia Dhawan informed that demand for the services offered by the company grew enormously after Government of India scrapped Rs 500 and Rs 1000 notes. She opined Modi's move would certainly curb the Black Money.
Within few hours, The overall traffic of Paytm had seen a surge of 435 percent. Around 200 percent increase in Paytm App download and 250 percent increase in no.of transactions was witnessed. Paytm received 1000 percent growth in money added to wallet and 400 percent growth in offline payments. The e-commerce firm maintained that its customers haven't faced any kind of discomfort even when higher denomination notes were banned.
Paytm believes situation only gets better for them in the coming days. It is hopeful that millions of people will be preferring only online transactions in future.
In the press release issued by Paytm in Bengaluru, General Manage Sonia Dhawan informed that demand for the services offered by the company grew enormously after Government of India scrapped Rs 500 and Rs 1000 notes. She opined Modi's move would certainly curb the Black Money.
Within few hours, The overall traffic of Paytm had seen a surge of 435 percent. Around 200 percent increase in Paytm App download and 250 percent increase in no.of transactions was witnessed. Paytm received 1000 percent growth in money added to wallet and 400 percent growth in offline payments. The e-commerce firm maintained that its customers haven't faced any kind of discomfort even when higher denomination notes were banned.
Paytm believes situation only gets better for them in the coming days. It is hopeful that millions of people will be preferring only online transactions in future.
