Alibhaba owned paytm records 5million transactions in a single day in India.

[romero121]

China based service provider alibhaba has owned paytm, an payment and online shopping service provider had made 5million transactions in a single day after the government's stopping of 500 and 1000 currencies. People had started using there online wallets for payments. Paytm reported a 300% growth in app download, 200% growth in the online transactions and recorded a 700% traffic in website compared to the past. So possibly soon India might get much digitalized.

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[rajasumi2]

Its all because of demonetozation. U see that the use of paytm has increased to such an extend that it has become slow a lot .and whenever i wanna add money for the processing to complete it would take max 30 minutes which in transaction world is quite a lot of time .

[Sithara007]

This is probably a temporary phenomenon, due to the scarcity of banknotes. The Indian merchants are notoriously opposed to paying any tax on their profits, and they prefer physical cash over other forms of payment. Even Indian house owners are now asking their tenants to pay the rent in physical cash, despite the extreme scarcity of banknotes.

[yayayo]

Well, that's good news for this payment provider. But it's terrible news for the Indian people. The government is trying to get rid of cash and gold in order to write off part of its amassed debt (by not allowing conversion of all notes and confiscating gold) and to enforce a despotic tax regime upon its citizen. The war on physical fiat cash is in full effect around the globe to force people into electronic fiat systems that are subject to permanent surveillance and control of banks and governments. It's total financial slavery.

Smart people opt out of this giant despotic scam and buy Bitcoin while they can. India based Zebpay is seeing a huge inflow of users as well. So not everyone is going to end up being a slave to government.

ya.ya.yo!

[tmfp]

China based service provider alibhaba has owned paytm

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I know that Wikipedia aren't perfect, but

Funding
In March 2015, Indian industrialist Ratan Tata made personal investment in the firm. The same month, the company received a $575 million investment from Alibaba Group of China ,after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement. Paytm borrowed 300cr from ICICI Bank in March 2016 as working capital.