Paytm reports Mega-Dhanteras sale

Mobile wallet company Paytm on Wednesday said it witnessed a significant increase in business during Dhanteras.

Paytm Vice-President Amit Sinha said partners associated with it had recorded an increase of 25 to 30% sale in their businesses during the festival.

"Dhanteras was a blockbuster event for us. As far as our platform is concerned, irrespective of the type of business and categories, all the shopkeepers and partners have seen a significant increase in their sale. Because of the offline-online pay strategy that we have introduced, there are shopkeepers who have seen an increase of at least 25 to 30% sale in their business after associating with us," Sinha said.

Talking about the competition with e-commerce giants, Sinha said: "It's a fight between two online retailers and we are not one of them. In fact, we are helping offline retailers to digitize and becoming available for the online consumers through our online-offline strategy. I can only say that we, and our shopkeepers, are very happy with the increase in sales".

Paytm has played an important role to democratize access to digital payments for hundreds of millions of Indians ranging from small kirana store-owners and daily wage laborers to large retailers to become a part of the digital economy.

-ANI