How much money did Paytm, Mobikwik, and Freecharge make from demonetization?

Paytm has been witnessing over 7 million transactions worth Rs 120 crores a day, helping it cross $5 billion GMV sales, four months ahead of its target.

The company is currently doing more transactions than the combined average daily usage of credit and debit cards in India.

Over 10 lakh offline merchants across India accept Paytm for payment including taxis, autos, petrol pumps, grocery shops, restaurants, coffee shops, multiplexes, and parking. Paytm has over 150 million mobile wallet users currently.

The company has also waived off its 1% transaction fee for transferring money to the Bank for KYC-enabled merchants to facilitate this shift towards digital in merchant behavior.

Freecharge claimed that the average wallet balance on its platform increased 12 times since the announcement. According to a Financial Express report, FreeCharge has also removed the initial set-up charges and also the commission charged to merchants on each transaction and has been registering a merchant every 30 seconds on an average.