Paytm transactions News
According to the RBI guidelines, the amount that can be transferred via digital payment method is limited to Rs 10,000 per month.
Paytm allows users the option to transfer money by adding a beneficiary.
Paytm shareholders include Alibaba's Ant Group (29.71 percent), Softbank Vision Fund (19.63 percent), Saif Partners (18.56 percent), Vijay Shekhar Sharma (14.67 percent).
AGH Holding, T Rowe Price and Discovery Capital, Berkshire Hathaway hold less than 10 percent stake in the company.
Paytm claims to be around 30-50 percent larger than its rivals in the segment with over 1.4 billion monthly transactions.
Paytm had recently announced that it has achieved over 1.2 billion monthly transactions led by the massive growth in offline payments and financial services.
The company has already facilitated payments acceptance via wallets, UPI, cards and net-banking for over 2 crore merchants, thereby helping them grow their business exponentially, he added.
Merchants can also use the device to fetch the payment summary for the entire day, and also notifies when it is running out of charge.
Witnessing an exponential growth in terms of day-to-day transactions after demonetisation, Paytm is touching more than five million transactions in one week as compared to the combined average daily number of payment transactions seen by debit and credit cards in India.
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