INSUBCONTINENT EXCLUSIVE:
Paytm Payments Bank became the greatest receiver of UPI quantity in December 2021New Delhi: Paytm Payments Bank has actually become the most
significant receiver of unified payments interface (UPI) quantity with 926.17 million transactions while State Bank of India (SBI) topped
the chart of being the greatest remitter in December 2021, according to information released by the National Payments Corporation of India
Paytm Payments Bank claimed to have ended up being the first recipient bank in the country to accomplish the landmark of over 926 million
UPI transactions in a single month
We are humbled to receive such an encouraging reaction from our users who have helped us end up being the most preferred beneficiary bank
We will continue to utilize our experience and technological strength to use superfast UPI Cash Transfer and the convenience of utilizing
Paytm Wallet and savings account for daily payments, PPBL Handling Director and CEO Satish Gupta said in a statement.State Bank of India
followed PPBL as the second-largest recipient with 664.89 million transactions.According to the NPCI, 98.79 percent of the transactions were
authorized on the PPBL platform
In the October-December 2021 quarter, PPBL signed up an overall of 2,507.47 million beneficiary deals, compared to 964.95 million recipient
transactions in the very same quarter in 2020
This is a year-on-year boost of 159.85 percent
It has actually remained the largest UPI recipient bank throughout the year (other than in Might 2021), and continues to grow
month-on-month, PPBL stated in a statement.Paytm creator and CEO Vijay Shekhar Sharma on Tuesday had actually stated the company is betting
huge on the payments business.It anticipates income from payments services, consisting of merchants transfers, to be around USD 140 million
(about Rs 1034 crore) in the present quarter, he had said.According to the NPCI information, Standard Chartered bank had the highest
approval rate of 96.74 per cent in remittance of UPI transactions, while Citi Bank signed up the highest approval rate of 99.84 per cent
