Paytm Payments Bank is among the Top 10 Digital Banks in APAC
News Desk, News Nation 360 : India’s homegrown Paytm Payments Bank Ltd (PPBL) has emerged as one of the most successful digital banks operating in the Asia Pacific (APAC) region. In its report titled ‘Emerging Challengers and Incumbent Operators Battle for Asia Pacific’s Digital Banking Opportunity’, the Boston Consulting Group (BCG) has listed PPBL among the Top 10 digital challenger banks in the region that are profitable and have witnessed significant growth over the past years. Paytm Payment Bank Ltd is the only Indian digital bank on the list. Other than PPBL, there are four banks from China, four from Japan, and one from South Korea. Satish Gupta, MD & CEO - Paytm Payments Bank Ltd said that they are glad that their efforts of constantly improving upon their own benchmark for performance have been recognised. Being in the top 10 digital banks in the APAC region by BCG is a testament to the role that they have played in empowering millions of fellow citizens to avail the benefits of formal banking services. Their focus remains on launching innovative products & services to accelerate financial inclusion in the country. Paytm Payments Bank is already one of the top enablers of digital payments in India. Over the last several quarters, it has registered substantial growth in transactions through Paytm Wallet, Paytm FASTag, Paytm UPI, and net banking. PPBL is rapidly gaining the trust of millions of Indians with over 64 million accounts. It is also one of the top beneficiary and remitter banks for UPI transactions in India.
Report: Anustup Kundu