One97 Communications (OCL) which owns the brand Paytm, India’s payments and financial services company and the pioneer of QR, mobile payments, and Soundbox, has launched a report titled "India's Festive Wallet Outlook 2023" by Paytm Ads at the ET Martequity Summit 2023. Based on a survey commissioned through Redseer Consulting, the report highlights festive spending trends across various categories and the growth of digital spending across payment platforms. India's Festive Wallet Outlook 2023 states that cashless transactions have gained prominence within online sales during festive seasons, with approximately 75 percent of consumers opting for digital payment methods for online shopping. Mobile payments are anticipated to emerge as the primary payment method. As of June 2023, approximately 60 percent of all merchants and small business owners accept e-payments enabled by the rapid deployment of Paytm's pioneering QR codes and Soundbox devices.