Paytm makes more revenue vs PhonePe and Google Pay

Paytm, a leading financial technology company, has reported revenue of Rs 7,991 crore for the fiscal year 2022-23.
Paytm digital payment IndiaPaytm’s Q4 revenues of Rs 2,334 crore are ahead of PhonePe’s revenues of Rs 1,912 crore for the first nine months of the calendar year 2022, IANS reports.

While PhonePe and Google Pay are focusing on UPI P2P, Paytm focuses on merchant payments.

Paytm recorded UPI incentives worth Rs 182 crore in the January-March quarter, up by 101 percent on a yearly basis.

Paytm has built a key differentiation in the market for itself with the widest array of payment instruments like Wallet, UPI, Postpaid, Food Wallet, Fastag and a variety of banking products available through Paytm Payments Bank.

For offline transactions, the company has devices like Paytm QR code, Android Smart POS, EDC (Electronic Data Capture) device, IoT devices and the soundbox.

In Q4 FY 2023, revenue for financial services and others grew 183 percent to Rs 475 crore. For FY 2023, revenue from financial services and others jumped 252 percent to Rs 1,540 crore.

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