BENGALURU: Digital payments platform Paytm has seen a drastic uptick in offline transactions this festive season compared to last year. The offline contribution during the festive period, from September 20 to October 30, this year was 65%, compared to below 20% during the festive period last year.Overall, Paytm processed $1.6 billion worth of transactions during the festive month, with a 3.5x increase in volumes over last year, crossing the highs seen during demonetisation . This has resulted in over $1.6 billion worth of transactions in a month, making this the largest Diwali for mobile payments in India,“ he added.The platform saw 60% of growth coming from tier-II and III cities. Some of the biggest use cases for Paytm during the month included payments at food outlets, transportation and offline payments. The company had earmarked over Rs 250 crore for payments during the period for marketing and promotions

Source: Economic Times October 24, 2017 00:11 UTC