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Paytm invests Rs 200 crore to promote UPI usage

Digital payments major Paytm has kept aside Rs 200 crore to promote unified payments interface-based transactions this festive season, according to a senior company executive.

Deepak Abbot, senior vice-president at Paytm, said the company has more than 33% market share in UPI payments, and with its marketing initiatives, it aims to position Paytm UPI as the leading payments and gifting solution. The company hopes to promote UPI as a mode for instant funds transfer as well.

“We are expecting to see two times growth in Paytm UPI money transfers during this festive season,” Abbot told ET, adding that the company, which had registered 137 million UPI transactions in September, is aiming to widen its user base to 100 million users by December.