Paytm receives 50 million downloads on Google Play Store
Paytm has reached over 50 million installs from Google’s Play Store, bringing its user-base to over 75 million. With the number of transactions made on average per user having increased from three per week to over 18, the company has praised its success as an opportunity for India to “skip the plastic generation” and utilise mobile payments immediately.

NEW DELHI: Paytm on Monday announced that its Android app had crossed the 50 million installs landmark on Google Play Store in the second week of November 2016. With this, Paytm’s android user-base has now grown to over 75 million.Paytm said it has registered 700 per cent increase in overall traffic and 1,000 per cent growth in the amount of money added to the Paytm account over the last couple of days."During this period, the transaction value continued to be 200 per cent of the average ticket size while the number of app downloads went up 300 per cent. The number of transactions per user also went up from 3 transactions to over 18 transactions in a week," it said."I am very excited to announce that Indian consumers are now using Paytm in more scenarios than ever before. Owing to the overwhelming response from consumers and merchants alike, we have set bolder targets in merchant acquisition, and are aiming to target 5 million merchants by the end of the financial year," said Senior VP- Paytm, Kiran Vasireddy.Paytm has partnerships with hundreds of thousands of outlets across various categories, which include Future Group, More, Big Bazaar, Spencers, eZone, Croma, Fortis Health World, Indian Oil, WHSmith, KFC and others. With its assertive focus on mobile payments, the company is inching closer to its aim of making cashless transactions a way of life across India."This is a historic opportunity for India to skip the plastic generation and leapfrog to mobile payments. We also we urge banks to reduce the charges for adding money to wallets and facilitate this shift in consumer behavior. This will ensure that every Indian merchant, big or small can accept mobile payments," said Senior Vice President - Paytm, Nitin Misra.