MUMBAI: Paytm Payments Bank, India’s homegrown digital payments bank, has launched the ‘7 People in 7 Days for UPI Mission’ to support the adoption of UPI payments in India. The mission aims to drive financial inclusion in the country and is aligned with Hon’ble Prime Minister Narendra Modi’s call to bring new users to the mobile payments revolution.
As part of the mission, Paytm Bank is offering cashback of Rs. 700 to users who refer seven new users through the Paytm app. Additionally, on one successful referral, users can also get a chance to win exciting rewards, including a MacBook Air, Sony PlayStation 5, and Robo Vacuum Cleaners.
Paytm UPI enables super fast and seamless transactions with the lowest technical decline rates in the country. Powered by 3-layer bank-grade security, Paytm UPI provides safe and reliable payments, making it the most preferred mode of payment in India.
“We are excited to launch the ‘7 People in 7 Days for UPI Mission’ to support the call to the nation by Hon’ble Prime Minister Narendra Modi. Through our innovations, we have taken UPI to every nook and corner of the country, making it the most preferred mode of payment. This mission is aligned with our mission to drive financial inclusion in the country,” said a Paytm Payments Bank spokesperson.
As the top UPI beneficiary bank, Paytm Bank registered 2,505.70 million transactions in August 2023. The bank registered 455.52 million transactions as one of the top remitter banks in the country. The bank’s merchant acquiring model has made it a market leader in UPI person-to-merchant (P2M) transactions. Merchants on the Paytm ecosystem, where Paytm Payments Bank is the Payee PSP, account for almost 40% of all UPI person-to-merchant transactions.
Paytm Payments Bank has always been the first to bring all UPI innovations to its users. It was the first payments bank to launch UPI Lite and enable UPI transactions through RuPay credit cards, empowering users with seamless and superfast payments.
Paytm Payments Bank offers best-in-class digital payment and banking experience with its mobile-only savings accounts, current accounts, fixed deposits with partner banks, and payment instruments like wallets, UPI, and FASTag, among other services to Indians. The bank is the largest UPI beneficiary bank, with the lowest technical decline rate amongst beneficiary and remitter banks.
The Paytm Payments Bank’s ‘7 People in 7 Days for UPI Mission’ is a step towards driving financial inclusion in India and supporting the adoption of UPI payments. With the lowest technical decline rates in the country, Paytm UPI provides safe and reliable payments, making it the most preferred mode of payment in India.
