In India, most of the Unified Payments Interface (UPI) transactions take place with Paytm Payments Bank, which has become the primary source and destination for most payments -:- www.deekpay.com: Native Payments in India

Paytm Payment Bank is at the forefront of India's digital banking revolution and has seen significant growth over the last four years. Today, we offer users a new type of online banking on their smartphones with a wide range of banking services including current accounts, savings accounts, fixed deposits with partner banks, online banking, debit cards, wallets, FASTag payments and UPI. In the UPI space, our performance sets us apart from many other third-party payment applications (TPAs). We have one of the largest and most robust UPI transaction platforms and have achieved this without relying on marketing spends such as cashback.Paytm Payment Bank is an NPCI certified Payment Service Provider (PSP) and is the issuing bank for UPI transactions. Many other third-party apps act only as acquirers for UPI transactions, relying on the support of the PSP bank. In contrast, Paytm Payment Bank is both an issuer and a PSP bank, and also acts as an acquirer for UPI transactions on its platform, making it the starting and ending point for all transactions, thus providing end-to-end transaction services to its users.

NPCI's data reflects our leadership position in the industry:

1. Advanced technology has resulted in the highest success rate and a double increase.

Our growth in the UPI space is attributed to the robust infrastructure we have put in place to ensure that our customers enjoy a seamless transaction experience. As a result, customers and merchants, who were previously plagued by pending and failed payments, are now increasingly favouring Paytm Payment Bank to send and receive funds, thanks to its faster overall payment experience and lower technical failure rates.

2. Paytm Payment Bank is the most trusted collection bank in UPI.

For the third month in a row, we have been the largest beneficiary bank in UPI transactions, ahead of other traditional financial institutions. The beneficiary bank is the bank where UPI users receive their funds. Simply put, more users are willing to transfer funds into their Paytm Payment Bank accounts than commercial banks. These funds are then used by our customers for banking, digital payments and various other financial services on the platform. (Source: NPCI report)

3. Attract more users as the leading remittance bank in UPI payments.

Despite PPBL's current deposit limit of Rs 10 lakh, we remain one of the largest remittance banks with 164 million transactions (April 2021). With the new regulations proposing to increase the limit to Rs 2 lakh, we believe this will attract more users.

4. Use automation to ensure that client funds are never lost.

We have achieved the highest debit card refund rate of 99.61%, which means that it is able to successfully return funds to the user's account without manual intervention. In the rare event of a failed transaction on the PBBL platform, users can be confident that their funds will be safely returned to their account. This is made possible by our innovative and advanced technology infrastructure, which uses automation to process refunds instantly.

5. Diversity of UPI transactions, becoming the preferred choice of merchants.

In the offline merchant space, we have over 20 million merchants across tier 1 to 5 cities in India. The digital UPI transaction solutions we offer are not just limited to our app, but also include Paytm QR, IoT devices and Paytm Soundbox.It is this versatility of solutions that makes it easy for a wide range of merchants, from vegetable vendors to large corporate shops, to transact through UPI.

Paytm Payment Bank has emerged as one of the biggest enablers in the digital payments space. In March 2021, we processed over 970 million transactions. With over 64 million accounts, our total deposits have exceeded Rs. 32 billion. This growth has been achieved through an increasing number of transactions on Paytm Wallet, FASTag payments and banking services. To know more, read Paytm Payment Bank Rises as India's Biggest Digital Transaction Enabler.