One of India’s largest electronic payment platform, Paytm has reported a five fold rise (122 million) in the number of active users in one year.
Ant Financial, the Alibaba Group affiliate, took 25 per cent stake in One97, which was the owner of Paytm, as part of their strategic agreement in 2015.
Peng Yijie, Director of International Business, Ant Financial said that the active users of Paytm has reached 122 million by end of March.
“About 5.6 times the figure in the beginning of 2015,” Peng was quoted by PTI as saying.
The company is further considering to do business with online service in other countries like Southeast Asia, Japan, the Republic of Korea and Europe.