Paytm downloaded 100 million times on Google Play Store

Paytm recorded 100 million downloads on the Google Play Store. Fintech, based in Noida on Wednesday, claims to be India's first payment application that has been downloaded 100 million times on the Play Store where Paytm's senior vice president Deepak Abbot says it is an important milestone in the Indian digital industry.

"We have 100 million downloads and this milestone is a testimony to the extraordinary team effort at Paytm.This achievement will give us a strong boost towards our goal of making India the first digital economy," said Payertm senior vice president Deepak Abbot.

Paytm has set up as a pioneer of mobile payment services that expand into the banking, lending and insurance industries. The current platform allows users to do online charging and bill payment, book movie tickets, and make travel reservations.

Paytm has become the most popular payment application in India that lets users scan QR to pay at major stores, grocery stores, local taxis, gas stations, restaurants and more. The company also set up instant messaging services to compete WhatsApp and Hike.