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PM Modi lauds Paytm, commends reach of digital payments in far-off places
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IANS | 28 Oct, 2022
Prime Minister Narendra Modi had hailed financial services and digital
payments leader, Paytm during his recent speech at the Mana village in
Uttarakhand.
Commending the increase in penetration of
digital payments in the country, Modi said that women entrepreneurs of
the village are accepting digital payments with Paytm and have QR codes
outside their shops.
The Prime Minister was addressing a rally
after laying the foundation stone of various developmental projects at
Mana village, which is considered the last village at the border between
India and China, during his two-day state visit last week.
Digital
payments pioneer Paytm has been at the forefront of India's digital
revolution and is widely used across the country from small villages to
bigger cities and towns. The company pioneered the QR code revolution in
India.
From offline payment devices to credit, Paytm is enabling merchants with robust business solutions to scale their businesses.
The company has disbursed 9.2 million loans in the second quarter of FY23, registering a 224 per cent YoY growth in volume.
Meanwhile, the total value of loans disbursed during the quarter grew 482 per cent YoY to Rs 7,313 crore ($894 million).
Paytm
has further strengthened its leadership in offline payments with the
number of devices deployed exceeding 4.8 million as of Q2 FY23, with
over 1 million new deployments during the second quarter.
The
company said it is committed to its mission of driving financial
inclusion in the country and bringing half a billion unserved and
underserved Indians to the mainstream economy.
This is in line
with the government's mission to transform India into a digitally
empowered society and knowledge economy. With technology-led innovations
in financial services and products, Paytm has created a formidable
digital infrastructure that is catalysing India's techade.
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