Thursday, February 9, 2023
Exchmarket-728x98

Paytm to be most profitable after new UPI scheme!

According to brokerage firm Morgan Stanley, India’s UPI incentive program will mostly benefit Paytm, the country’s largest provider of digital payments and banking services. As opposed to Rs 15 billion in FY22, the incentive program for the marketing of RuPay Debit Cards and low-value BHIM-UPI payments was approved by the Union Cabinet for an amount of Rs 26 billion.

“In addition to banks, Paytm should gain a lot from the above, in addition to banks. Considering a comparable share for the financial year 2023 Paytm would have gotten 3-5% of our estimated contribution earnings, or 5-7% of the financial year 2022 incentive, according to our projections” the brokerage house specified. The program offers acquiring banks cash incentives in exchange for boosting point-of-sale and online purchases made using BHIM-UPI transfers and RuPay debit cards.

Paytm to be most profitable after new UPI scheme!

The top management of Paytm stated on its most recent earnings call that UPI merchant payments, which are complimentary for the merchant, have started to generate revenue since the government is supporting digital payments by offering benefits for UPI transactions. This incentive program will support the development of a strong online payment ecosystem and advance digital transactions using the BHIM-UPI and RuPay Debit Cards.

3 28 Paytm to be most profitable after new UPI scheme!
Exchmarket-728x98

In keeping with the goal of “Sabka Saath, Sabka Vikas,” the program will also advocate for UPI 123PAY as well as UPI Lite as affordable and user-friendly online payment options and help adoption of online payments throughout the country across all businesses and demographic groupings. The government also plans to maintain the funding for digital payments that were previously budgeted for, with a particular emphasis on encouraging the adoption of affordable and user-friendly payment services.

4 21 Paytm to be most profitable after new UPI scheme!

The plan was created in accordance with the Cabinet announcement and the aforementioned Budget announcement. Consumer engagement in the Paytm Super App is continuing to increase, with the average MTU for Q4 2022 coming in at 85 million, representing a growth of 32% YoY. For Q4 2022, the platform handled a total of Rs 3.46 lakh crore in GMV from merchants, representing a YoY growth of 38%.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Bitdefender WW

Stay Connected

271FansLike
223FollowersFollow
195FollowersFollow

Hot Topics

Exchmarket-300x600

Latest Articles

Featured