Bengaluru: Mobile payments and commerce platforms like Paytm, MobiKwik and others have registered exponential growth in less than 24 hours after the announcement of demonetisation of Rs 500 and Rs 1,000 notes.
Mobile wallet Paytm has seen a 200 per cent increase in app downloads, a 1,000 per cent rise in the money added, a 435 per cent increase in traffic and a 250 per cent spike in overall transactions, another digital payment platform. “Since Paytm is fast becoming synonymous with all kinds of payments, we are happy to announce we have registered a strong surge in volume (of transactions) on our platform,” said Madhur Deora, chief financial officer of Paytm.
MobiKwik witnessed an over 40 per cent increase in app downloads within 18 hours. MobiKwik has over 1,00,000 merchants on its platform including Big Bazaar, Big Basket, Grofers, Ezone, Dominos, Croma, Pantaloons, Star Bazaar, Oyo Rooms, MakeMyTrip, Swiggy, FoodPanda and ZopNow.
