Paytm today has announced that it has revamped its app to make it, even more, user-friendly and intuitive. The revamped app personalizes the app experience for users. Money Transfers are also simpler, and instant transfers from a user’s Paytm Payments Bank account, Paytm Wallet or any other bank account to any bank account at 0% fee.
The Passbook which contains account history and Paytm money balance has now been revamped to present all information in a snapshot. Paytm with its revamped app is aiming to see growth in Money Transfers this year. The company has been aggresively promoting users to link their bank accounts for instant transfers using the Paytm app.
It also started taking the new KYC norms in its stride and has been able to sustain the growth in transactions. It offers wide-range of transactions including peer-to-peer payments, fee payments, and many others. Paytm has reached a total of 7 Million offline merchants and has achieved 1 Billion transactions per quarter, making it the largest payments service provider in the country.
Commenting on the revamp, Kiran Vasireddy, COO – Paytm said:
We are very excited to introduce the new revamped interface on Paytm App. In continuation of our constant effort to provide our customers with the best user experience, the new design is refreshing and has upgrades to some of the most important flows including Money Transfers. I am very happy to share that we have successfully inculcated the use of Paytm as a habit in millions of Indians – to transact digitally online and on Paytm app using their preferred payment method.
Our offline payments have also scaled as we pioneered Paytm QR, enabling merchants to accept payments directly into their bank accounts. We are overwhelmed with our users’ trust in us and we will continue expanding our operations to every nook and corner of the country. This year, we are aiming for an exponential growth in Money Transfer transactions by transforming payments done in the unorganized sector – this will include freelancers, tuition fee, house rent, salaries of unorganized workforce and others into direct bank transfers using the Paytm app.