One97 Communications Limited (OCL), the parent company of fintech firm Paytm, announced the release of Paytm 2022 Recap on Wednesday, which highlights trends in Paytm transactions over the last year.
Paytm UPI, with its superfast and secure payments, is one of the most popular payment methods among Indians. According to the company’s report, Delhi-NCR has emerged as India’s digital payments capital, while Katpadi in Tamil Nadu is the fastest growing city for digital payments, with a 7X growth rate in 2022.
Chennai and Trichy in Tamil Nadu have the highest percentage of offline payments for food and beverages, while Amritsar has the highest Paytm spend on health and grooming.
Meanwhile, the highest percentage of Paytm spending was on micro sellers or street vendors in Noida and Nagpur. Lohit in Arunachal Pradesh, South Sikkim and Ranipool, and Guwahati, Dibrugarh, Jorhat, and Kamrup in Assam are the fastest growing cities in the North East for UPI transactions.
Paytm’s offline payment leadership continues to grow, with over 5.5 million merchants now paying subscriptions for payment devices.
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