Our bank's consumer beta attracts over 10 million user registrations : India's Three-Party Payments

Our bank's consumer beta attracted more than 10 million user registrations

Paytm has played a key role in driving the popularity of digital payments, giving hundreds of millions of Indians, from small grocery shop owners and daily wage labourers to regular retail outlets, equal access to the convenience of digital payments. Millions of Indians, who first experienced the convenience of digital payments on Paytm, eagerly awaited the official launch of our bank. This anticipation prompted over 10 million users to sign up for a Paytm payments bank account during the beta period. Our bank account requires no minimum deposit and offers a free RuPay digital debit card. The card also offers free insurance of up to Rs 2 lakh in case of accidental death or permanent total disability of the cardholder. Customers who complete the identity verification can immediately open a Paytm Payments bank account on their smartphones. We will soon be partnering with large banks to launch a suite of banking services including fixed deposits, retail and MSME loans.