Paytm records nearly 4 million transactions on 1st day of 'Maha Bazaar Sale'

India's mobile payments and e-commerce company Paytm has recorded over 3.5 million transactions on the first day of its ongoing 'Maha Bazaar Sale' on Wednesday. 

“The recent growth in festive season has been fuelled by categories like fashion led by ethnic wear, gifts and sweets, apparel, footwear, mobiles, electronics and home furnishings that are featuring exciting promotions on Paytm,” the company said in a press release on Thursday. 

Paytm had launched its 'Maha Bazaar Sale' for the upcoming Diwali season on October 12 which will last till October 14. 

“The Paytm 'Maha Bazar Sale' looks to promote categories Indians love to shop the most during the festive season. With our platform, we enable thousands of sellers to reach consumers across the country, thus offering a major boost to their sales," Paytm vice president Saurabh Vashishtha, said in a statement. 

Due to the phenomenal response every year, sellers have started to stock products at our partner fulfillment centers to ensure faster shipping for large volume orders, Vashishtha added.

The company expects 10 million transactions in its three day festive sale which will end on Friday. 

Paytm is owned by mobile internet firm One97 Communications and is headquartered in New Delhi-NCR. It competes with e-commerce companies like Flipkart, Snapdeal, Amazon India, among others.