Twitter adds Paytm as one of payment gateway for Tips transactions

Social media platform Twitter has added Paytm Payments Services as one of the payment gateway for carrying out Tips transactions, a joint statement said on Wednesday. Twitter has started Tips feature that enables users to support their content creators or small business owners on Twitter by using any Paytm payment instrument like Paytm UPI, Paytm Wallet, Paytm Postpaid (buy-now-pay-later), debit and credit cards, and netbanking.

The platform already has cryptocurrency and Razorpay gateway to facilitate transactions. Back in May 2021, Twitter started experimenting with the Tips feature with a small test group of some influential and diverse voices on the service, including journalists and creators.

Since November last year, Tips has been made available to all individuals above 18 years of age on iOS and Android in India to monetise on Twitter and enables people on the service to send and receive funds as a token of appreciation.

"In India, millions of people already use Paytm for their everyday payments and we are excited to partner with Twitter to enable payments for Tips. This will support the creator community with monetisation capabilities," Paytm Payments Services CEO Praveen Sharma said. 

Paytm GMV doubles to ₹83,481 cr in Jan

Digital payments and financial service firm Paytm on Monday said gross merchandise value (GMV) processed through its platform more than doubled to ₹83,481 crore in January.

Paytm's GMV in January 2021 stood at ₹41,000 crore, the company said in a regulatory filing.

The company disbursed 19 lakh loans amounting to ₹921 crore in January, which was over threefold higher compared with four lakh loans worth ₹212 crore that the company disbursed in January 2021.

The average monthly transacting users grew 40 per cent to 6.89 crore in January, from 4.93 crore a year ago.

Shares of the company on Monday touched an all-time low of 860 apiece before finally closing at ₹864 per share.