In honour of India’s G20 presidency and the nation’s dominance in mobile payments, One97 Communications Limited, the owner of the top payments and financial services company Paytm, unveiled a special G20-themed QR Code on Friday. In this location, at the “Digital Payments Utsav,” Ashwini Vaishnaw, the Union Minister for Railways and IT, introduced the QR code.
As the creator of QR code payments, Paytm has been a key player in India’s mobile payments revolution. The special commemorative QR Code includes the “DigiDhan Mission” logo from MeitY as well as logos for the G20 2023 and the 75th anniversary of India’s independence.
“India is at the forefront of the mobile payments revolution, and as pioneers of QR code, Paytm is taking UPI to every nook and corner of the country. Financial inclusion is at the heart of G20 that resonates with our mission to bring half a billion Indians into the mainstream economy with our innovative payments solution,” said Vijay Shekhar Sharma, Founder and CEO, Paytm.
“Paytm`s G20-theme QR Code is dedicated to India`s presidency of the premium forum for international economic cooperation, which is a landmark moment for the country,” Sharma added.
Under the `Digital Payments Utsav`, Paytm is organising a special drive wherein a branded vehicle will cover various localities across Delhi that have a heavy public presence. Educational videos on digital payments will be played with the aim to increase awareness and usage of digital payments by the public, said the company.
The company`s associate Paytm Payments Bank won MeitY`s top award for maintaining one of the lowest average Technical Decline (TD) in BHIM UPI transactions. Paytm Founder Sharma is also the Chair of the Finance Task Force under `Startup20`. The taskforce will provide a framework on best practices for global investors to fund Startups across G20 member nations and help in constructing model frameworks that could be implemented in emerging ecosystems for building investment capabilities.
With 6.1 million active devices, Paytm controls the offline payment market. With more than 1,765.87 million transactions in January 2023, Paytm Payments Bank continued to lead all other banks in the nation and held the title of largest UPI beneficiary bank for a consecutive 20 months. According to the most recent NPCI report, the bank is among the top 10 remitter banks for UPI transactions with 389.61 million registered transactions.