Paytm expects 25 million merchant bases by next year: Official

HYDERABAD: Digital payments firm Paytm expects its merchant's base which is pegged at 15 million as of now to reach 25 million by the next fiscal, a senior executive of the company said here on Monday.

"The intent at this point in time is to expand our merchant base by offering solutions which are tailor-made to make their lives better...we have relationship with 15 million merchants at this point in time. We are scaling it to 25 million by next fiscal," Saurabh Sharma, senior vice- president, Paytm, told reporters here.

Paytm on Monday announced the launch of "All in One" QR, which will enable merchants to accept unlimited payments through Paytm Wallet, Rupay cards and all UPI-based payment apps directly into their bank account at zero per cent fee, here and another six cities across the country, according to him. He said over the next 15 days the QR code will be launched across the country.

The payments platform said that it will be on-boarding 1.5 million merchants from Andhra Pradesh and Telangana in the next six months and it is targeting to double the business growth in these states within a year.