One97 Communications Limited that owns leading payments and financial services company Paytm, on Friday launched a special G20-theme, QR Code to celebrate India’s presidency of the inter-governmental forum and the country’s leadership in mobile payments.
The QR code was launched by Ashwini Vaishnaw, Union Minister for Railways and IT, during the ‘Digital Payments Utsav’ at the India Habitat Centre here.
Paytm has played an important role in the mobile payments revolution in India, as the pioneer of QR code payments.
The special commemorative QR Code features logos of MeitY’s ‘DigiDhan Mission’, along with those of the G20 2023 and 75th year of India’s independence.
“India is at the forefront of the mobile payments revolution, and as pioneers of QR code, Paytm is taking UPI to every nook and corner of the country. Financial inclusion is at the heart of G20 that resonates with our mission to bring half a billion Indians into the mainstream economy with our innovative payments solution,” said Vijay Shekhar Sharma, Founder and CEO, Paytm.
“Paytm’s G20-theme QR Code is dedicated to India’s presidency of the premium forum for international economic cooperation, which is a landmark moment for the country,” Sharma added.
Under the ‘Digital Payments Utsav’, Paytm is organising a special drive wherein a branded vehicle will cover various localities across Delhi that have a heavy public presence.
Educational videos on digital payments will be played with the aim to increase awareness and usage of digital payments by the public, said the company.
The company’s associate Paytm Payments Bank won MeitY’s top award for maintaining one of the lowest average Technical Decline (TD) in BHIM UPI transactions.
Paytm Founder Sharma is also the Chair of the Finance Task Force under ‘Startup20’.
The taskforce will provide a framework on best practices for global investors to fund Startups across G20 member nations and help in constructing model frameworks that could be implemented in emerging ecosystems for building investment capabilities.
Paytm dominates offline payments with 6.1 million devices deployed. Paytm Payments Bank remained the largest UPI beneficiary bank for 20 months in a row with over 1,765.87 million transactions in January 2023, ahead of all other banks in the country.
With 389.61 million registered transactions, the bank is one of the top 10 remitter banks for UPI transactions, according to NPCI’s latest report.