paytm, lockdown impact on digital payments, digital payments amid lockdown, digital payment industry, Digital Payment

Digital payment is coming to the attention of people in lockdown. Digital payment increased manifold.

Finance Tops

In the midst of the nationwide lockdown caused by a coronavirus, people have adopted social distance, masks, and gloves, digital payments have also seen a surge in the discussion of the outbreak of coronavirus due to currency notes. Paytm, a leading digital payments company, says that there has been a 200 percent jump in broadband and data card bill payments during the lockdown. With this, mobile recharge has increased by 42% and the expenditure on groceries by 30%.

Paytm spokesperson says that he is trying to ensure that people can make all the necessary payments by staying safe in their homes. The company has upgraded the Paytm UI app and added the ‘Stay at Home Essential Payments’ section, through which mobile and DTH recharge, electricity, water, gas, credit cards, and insurance premiums and other payments can be made.

There has been a significant increase in digital payments on Paytm platform from March 22 to April 15 in some segments. like…

42 percent increase in mobile recharge, 58 percent increase in DTH recharge, 200 percent increase in broadband/data card bill payment, 30 percent increase in spending on goods, 30 percent increase in payment for claims, 15 percent increase in spending for milk, gaming platform 60% increase in transactions for online grocery platform; 35% increase in transactions 230 percent increase in transactions for streaming service.

Paytm spokesperson says that during the lockdown they have seen an increase in required payments like recharge, utility payments, insurance premiums, etc. Many users are relying on various payment systems available on the Paytm app. They believe that the provisions of social distancing have connected people to the virtual world. They have joined the mobile and TV for information and entertainment.