Twitter adds Paytm as one of the payment gateways for transactions Tips

Social media platform Twitter has added Paytm Payments Services as one of the payment gateways to perform Tip transactions.

Social media platform Twitter has added Paytm Payments Services as one of the payment gateways for conducting Tips transactions, a joint statement said on Wednesday. Twitter has launched the Tips feature which allows users to support their content creators or small business owners on Twitter using any Paytm payment instrument like Paytm UPI, Paytm Wallet, Paytm Postpaid (buy now-pay later) , debit and credit cards, and online banking.

The platform already has a cryptocurrency and a Razorpay gateway to facilitate transactions. In May 2021, Twitter began experimenting with the Tips feature with a small test group of influential and diverse voices on the service, including journalists and creators.

Since November last year, Tips has been made available to everyone over the age of 18 on iOS and Android in India to monetize on Twitter and allows users of the service to send and receive funds in tokens. of appreciation.

“Millions of people in India are already using Paytm for their daily payments and we are excited to partner with Twitter to enable tip payment. This will support the creator community with monetization capabilities,” said Paytm CEO Payments Services, Praveen Sharma.

Paytm GMV doubles for 83,481 cr in Jan.

Digital payments and financial services company Paytm said on Monday that gross merchandise value (GMV) processed through its platform had more than doubled to 83,481 crores in January.

Paytm’s GMV in January 2021 was 41,000 crore, the company said in a regulatory filing.

The company disbursed 19 lakh loans amounting to 921 crore in January, which was more than three times higher than four lakh loans 212 crores which the company disbursed in January 2021.

The average number of monthly users transacting increased by 40% to 6.89 crores in January from 4.93 crores a year ago.

Shares of the company hit an all-time low of 860 apiece on Monday before finally closing at 864 per share.

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Elaine R. Knight