Paytm crosses 200 million users; aims 500 million wallets by 2020

Mobile wallet service Paytm added seven lakh wallets in a single day to cross the crucial milestone of 200 million users, founder Vijay Shekhar Sharma said in a tweet on Monday.

Sharma said the next aim was to touch 500 million users by 2020.

Double century!
Next milestone, 500 Mn by 2020.

Thank you India pic.twitter.com/uBlkUcKuER

— Vijay Shekhar (@vijayshekhar) February 27, 2017

1 day https://t.co/gSXQo50NXI

— Vijay Shekhar (@vijayshekhar) February 27, 2017

Paytm had touched the 100 million users milestone in August last year. 

As of Monday, while Paytm can boast of 200.3 million users, only 106.8 million wallets have money in them or have cards saved (linked) to them to make payments. 

Cumulatively, Paytm wallets hold Rs 899.11 crore in them.

Paytm became the first instance beneficiary as a fall-out of demonetization, as the government pushed for digital payments in a bid to move towards being a cashless society.