India’s leading digital payment and financial services company, Paytm, announced on Friday that its recently launched e-ledger service ‘Business Khata’ has recorded INR 1500 crore transaction. With this milestone, ‘Business Khata’ has become India’s fastest-growing e-ledger service, according to statement issued by the company.
Paytm said that Business Khata received overwhelming response from customers during the lockdown period. The service recorded four times more growth all through the nationwide lockdown period; attracting good number of new merchants and registering impressive growth in number of daily transactions.
The Noida headquarters company rolled out Business Khata to assist Kirana store owners in maintaining digital ledgers of all their customer transactions and expedite the growth of digital payment services across the country.
Commenting on the latest milestone, Sajal Bhatnagar, Vice President at Paytm said, “Paytm Business Khata has become an essential service for kirana stores as it automates their manual cash collection. It has helped them to significantly improve cash flow and clear their sales outstanding digitally. We are overwhelmed with the growth achieved and will work towards educating more kiranas about its convenience.”
Merchants don’t have to pay a single penny for using Business Khata, since the service is absolutely free. Kirana store owners have to download the ‘Paytm for Business’ app to avail the services.
Paytm was also recently in news over rumors that it is in talks with tech giant Microsoft to raise fresh funds.