Paytm releases a QR Code with a G20 theme to commemorate India’s presidency

Paytm releases a QR Code with a G20 theme

In honour of India’s G20 presidency and the nation’s prominence in mobile payments, One97 Communications Limited, the owner of the top payments and financial services startup Paytm, unveiled a special G20-themed QR Code.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Paytm releases a QR Code with a G20 theme: Key Points

• Ashwini Vaishnaw, the Union Minister for Railways and IT, introduced the QR code at the India Habitat Center’s “Digital Payment Utsav.”
• Paytm was a key player in the development of mobile payments in India and is regarded as the inventor of QR code payments.
• The “DigiDhan Mission” logo from MeitY, the G20 2023 logo, and the 75th anniversary of India’s independence are all included in the special commemorative QR code.
• Paytm is hosting a special event called “Digital Payments Utsav” in which a branded automobile will tour different parts of Delhi with active audience engagement.
• To raise public knowledge and usage of digital payments, the corporation announced that it will air educational videos on the subject.
• Paytm Payments Bank, an affiliate of the company, was given MeitY’s highest honour for consistently achieving one of the lowest average technical dips (TD) in BHIM UPI transactions.
• Vijay Shekhar Sharma, the founder of Paytm, also serves as the leader of Startup20’s financial task group.

SBI opens 3rd specialized Startup branch in Gurugram

About the QR Code with a G20 theme by Paytm

• The working group will assist create models that can be applied in developing ecosystems to strengthen investment capacity and give global investors with a best practice framework for financing start-ups in G20 member nations.
• With 6.1 million active smartphones, Paytm controls the offline payments market.
• With more than 1,765.87 million transactions in January 2023, Paytm Payments Bank continued its 20-month streak of dominance as the largest UPI beneficiary bank, surpassing all other banks in the nation.

According to the most recent NPCI statistics, the bank is among the top 10 remittance banks for UPI transactions with 389.61 million recorded transactions.

Also Read: HDFC Bank collaborates with Microsoft as part of its digital transformation