Paytm Payments Bank has the best tech for UPI payments, confirms NPCI report
We have been consistently simplifying a plethora of banking features, making it simpler for millions of unbanked and underbanked Indians to access new age banking tools so that they can easily save their hard-earned money, swiftly make payments, save money and invest accordingly anywhere, anytime. On this rewarding journey though, we have recently accomplished something great.
We have been consistently simplifying a plethora of banking features, making it simpler for millions of unbanked and underbanked Indians to access new age banking tools so that they can easily save their hard-earned money, swiftly make payments, save money and invest accordingly anywhere, anytime. On this rewarding journey though, we have recently accomplished something great.
We’re extremely happy to share that once again we have outperformed all the major banks in India in terms of the success rate of UPI transactions!
According to the latest report by the National Payments Corporation of India (NPCI), we have the lowest technical decline rate of 0.02% as compared to all the UPI remitter banks and 0.04% as compared to all UPI beneficiary banks. All the other major banks of India have a much higher technical decline rate of around 1%. The main reason for such magnificent success is the superiority of our in-house technology-infrastructure.
Unlike other banks where UPI transactions are mostly driven by third-party apps, ours is the only bank in the country that organically drives UPI transactions from Paytm’s ecosystem. We already have over 100 million UPI handles on our platform and are accelerating the growth of UPI payments at offline retail stores as well as large merchants.
Our MD & CEO, Satish Gupta said, “Our performance in the latest NPCI report is a testament of the hard work that the team puts in to provide the best technology infrastructure in the global banking space. We are well ahead of others when it comes to leveraging AI and Big Data to offer innovative products and services to our customers across the country. Our tech team which comprises of the best minds in the business work round the clock to provide a seamless and efficient experience. This has helped us build a trusted & long-lasting relationship with our partners.”
We continue to be India’s most successful payment bank and have a comprehensive platform of funding sources. Besides 100 million UPI handles, there are 350 million wallets, 220 million saved cards and 60 million bank accounts on our platform.
Unlike other banks where UPI transactions are mostly driven by third-party apps, ours is the only bank in the country that organically drives UPI transactions from Paytm’s ecosystem. We already have over 100 million UPI handles on our platform and are accelerating the growth of UPI payments at offline retail stores as well as large merchants.
Our MD & CEO, Satish Gupta said, “Our performance in the latest NPCI report is a testament of the hard work that the team puts in to provide the best technology infrastructure in the global banking space. We are well ahead of others when it comes to leveraging AI and Big Data to offer innovative products and services to our customers across the country. Our tech team which comprises of the best minds in the business work round the clock to provide a seamless and efficient experience. This has helped us build a trusted & long-lasting relationship with our partners.”
We continue to be India’s most successful payment bank and have a comprehensive platform of funding sources. Besides 100 million UPI handles, there are 350 million wallets, 220 million saved cards and 60 million bank accounts on our platform.
Conan O’ Brien rightly said – “Work hard, be kind, and amazing things will happen.” We have been providing amazing banking experience to millions of people and are further simplifying their daily life.
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