Paytm Payments Bank Limited (PPBL) has the best technology in terms of payments from UPI. Paytm Payments Bank has once again surpassed all major banks in India in terms of the success rate of UPI transactions. This information has come out from the latest report of National Payments Corporation of India (NPCI). According to the report, Paytm Payments Payments Bank has the lowest technical declining rate of 0.02% among all UPI remitter banks.
On the other hand, if we talk about the technical decline rate of all UPI Benny Fischer banks, in this case also the lowest rate of 0.04% is in Paytm Payments Bank. Technical Decline Rate in all other major banks is around 1%. This confirms the superiority of Paytm Payments Bank’s in-house technology infrastructure and is the main reason for the bank’s success.
Own ecosystem for UPI transactions
The statement said that UPI transactions for other banks are mostly operated by third-party apps. But PPBL is the only bank in the country which is unlike other banks. It organizes UPI transactions from Paytm’s ecosystem. PPBL already has more than 10 crore UPI handles on its platform. The bank is accelerating the growth of UPI payments at offline retail stores and even among large merchants. PPBL remains India’s most successful payment bank and a comprehensive platform for funding sources. In addition to 10 million UPI handles on its platform, there are 35 crore wallets, 22 crore saved cards and 6 crore bank accounts.
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At the forefront of leveraging AI and big data
Satish Gupta, MD and CEO of Paytm Payments Bank Limited said, “Our performance in the latest NPCI report is a testimony to the hard work that the team undertakes to deliver the best technology infrastructure in the global banking space. We are ahead of others in taking advantage of Artificial Intelligence (AI) and Big Data to offer innovative products and services to customers. Our tech team works round the clock to provide a smooth and efficient experience. This has helped us to build a reliable and long-lasting relationship with our partners. ”
Source: www.financialexpress.com
