One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today launched a special G20-theme QR Code to celebrate India’s presidency of the intergovernmental forum and the country’s leadership in mobile payments.
This QR code was launched by Mr. Ashwini Vaishnaw, Hon’ble Minister for Railways, Communications and Electronics & Information Technology, at ‘Digital Payments Utsav’ at India Habitat Centre in Delhi today.
Paytm has played an important role in the mobile payments revolution in India, as the pioneer of QR code payments. The special commemorative QR Code features logos of MeitY’s DigiDhan Mission along with those of the G20 2023 and 75th year of India’s independence.
‘Digital Payments Utsav’ is an initiative by the Ministry of Electronics and Information Technology (MeitY), Government of India, to celebrate India’s G20 presidency and increase the awareness and accelerate the adoption of digital payments in the country. Hon’ble Minister also flagged off a car and bike rally which had participation from leading Banks and Fintech companies to create awareness about safe and secure digital payments.
The company’s associate Paytm Payments Bank won MeitY’s श्रेष्ठ पुरस्कार, for maintaining one of the lowest average Technical Decline (TD) in BHIM UPI transactions.
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “India is at the forefront of the mobile payments revolution, and as pioneers of QR code, Paytm is taking UPI to every nook and corner of the country. Financial inclusion is at the heart of G20 that resonates with our mission to bring half a billion Indians into the mainstream economy with our innovative payments solution. Paytm’s G20-theme QR Code is dedicated to India’s presidency of the premium forum for international economic cooperation, which is a landmark moment for the country.”
Paytm’s Vijay Shekhar Sharma is also the Chair of the Finance Task Force under Startup20. The Taskforce will provide a framework on best practices for global investors to fund Startups across G20 member nations and help in constructing model frameworks that could be implemented in emerging ecosystems for building investment capabilities.
Under the Digital Payments Utsav, Paytm is organizing a special drive wherein a branded vehicle will cover various localities across Delhi that have a heavy public presence. Educational videos on digital payments will be played with the aim to increase awareness and usage of digital payments by the public.
Paytm dominates offline payments with 6.1 million devices deployed. The company’s associate Paytm Payments Bank (PPBL) is a market leader in UPI as the largest beneficiary bank, acquiring bank and a leading remitter bank. PPBL remained the largest UPI beneficiary bank for 20 months in a row with over 1,765.87 million transactions in January 2023, ahead of all other banks in the country. With 389.61 million registered transactions, the Bank is one of the top 10 remitter banks for UPI transactions according to NPCI’s latest report, strongly supporting the growth of P2P as well as the merchant payment ecosystem in the country.
With a comprehensive suite of payments and financial services provided by Paytm, the company has been at the forefront of the digital revolution of the country towards a cashless economy. The company is driving flexibility in digital payments with Paytm UPI, Paytm Wallet, netbanking, debit & credit cards and more.