Paytm UPI: Paytm accounted for 13% of total UPI transactions last January, according to data released by the National Payments Corporation of India. But at the end of last May, it has declined to 8.1%.
Last January, the Reserve Bank of India (RBI) ordered the Paytm Payments subsidiary to cease operations following some complaints from Paytm users. Due to this continued month-on-month decline, Paytm shares fell by around 55%.
Last May alone, the UPI network handled transactions worth Rs 14.04 billion, a month-on-month increase of 5.5%. But only Paytm has seen a decline in these UPI transactions.
At the end of the fourth financial year, Paytm reported a slight decline in revenue and profitability for the 4th consecutive month due to several disruptions in the business.
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