We are the largest acquiring bank on the Unified Payments Interface (UPI) platform. With our technology-led solutions, we have made UPI accessible in every nook and corner of the country. Being the most preferred destination for most of India’s UPI transactions, especially for UPI person-to-merchant payments, we play a major role in revolutionizing the Indian banking space.
As a Payee PSP, we have registered 2868.53 million transactions, and as a Payer PSP, 1439.34 million transactions have been registered in October 2023. Our merchant acquiring model has made us a market leader in UPI person-to-merchant (P2M) transactions.
Along with being the largest acquiring bank on the UPI platform, we also continue to be the top beneficiary bank for almost two years in a row. As the top UPI beneficiary bank, we registered 2709.07 million transactions in October 2023 and 441.45 million transactions as one of the top UPI remitter banks in the country.
With the recently announced prepaid payments instruments (PPIs)/wallets interoperability, UPI payments will get a further boost and Paytm Wallet’s millions of users will be able to pay across all merchants through UPI. We are also the first payments bank to launch UPI Lite and enable UPI transactions through RuPay credit cards, empowering users with seamless and superfast payments.
With a robust and secure infrastructure, we serve our users end-to-end ensuring seamless and superfast transactions. We also have one of the lowest technical decline rates amongst beneficiary and remitter UPI banks, which makes it a dependable platform for merchants and users looking to access payments and financial services.