Paytm Wiki Over the last decade, India has seen a rise in the number of multinational companies and entrepreneurs when it comes to net worth and growth.
If you have followed the trajectory of Indian startups over the last few years, then the success story of Paytm and its CEO – Vijay Shekhar Sharma is not easy to miss.
Paytm is considered to be one of India’s MNC corporations that specializes in digital payment, financial services, and e-commerce. But even with stiff competition from major players like Google, Paytm still emerged as one of the top players.
So, let’s take a look at the Paytm wiki to understand the growth and business plan behind Paytm.
Table of Contents
Highlights of PayTM
|Noida, Uttar Pradesh
|Vijay Shekhar Sharma
|3.5 Billion Dollar
PayTM is one of the leading bill payment applications that provides facilities like mobile recharge, utility bill payment, DTH recharge, travel booking, movie booking, and other financial solutions that customers can use.
The parent organization of PayTM is One97 Communications and the brand tagline is ‘PayTM Karo’.
The brand was founded by Vijay Shekhar Sharma in 2010 and is based out of Noida, UP.
PayTM was initially created to cater to merchants and customers to help transfer money safely.
But the brand’s rapid growth led to the expansion in services like:
- eCommerce and more
PayTM payment bank is considered to be the country’s most prominent digital bank with over 58 million account holders.
The Paytm Money section of the platform was started to provide easy and safe purchases of shares, mutual funds, and digital gold.
Paytm Money is considered to be one of the biggest investment platforms that contribute to SIPs in the mutual fund world.
It is also growing in the stock broking, and National Pension Scheme (NPS) sectors as well.
Other than this, Paytm has also launched its mini app store to help support Indian entrepreneurs and app developers.
About PayTM Founder
Vijay Sharma, the CEO, and founder of Paytm is one of the top digital entrepreneurs in India.
Born into a middle-class family in Aligarh, Vijay was a bright student.
He was schooled in a Hindi medium school but soon realized his weakness was English during college admissions.
He joined the Delhi College of Engineering (DCE) and completed his B.Tech in Electronics and Communications Engineering.
During his college, he started his entrepreneurial dream with indiasite.net.
He later sold his website for $1 million.
In 2000 he founded One97 Communications and offered mobile news, ringtones, exam results, jokes, and cricket scores.
The company later became the backbone of PayTM which he set up with an initial investment of $2 million in Noida.
How PayTM Started – Story of Inception
In 2000, the idea of PayTM was born when Vijay Sharma established One97 Communications with a loan of Rs. 8 lakhs.
He finally set up PayTM in 2010 as a prepaid and online DTH recharge platform.
Over the next 10 years, PayTM moved into the e-wallet sector and expanded into eCommerce via online ticket bookings as well.
The government’s demonetization policy in 2016, helped magnify PayTM and the concept of digital payments.
Post-demonization, Indians became hooked when it came to online shopping and payment options.
India moved towards a digitized economy with petrol pumps and pan shops even accepting online payments.
In 2017, the brand became India’s first-ever payment app to surpass 100 million downloads.
Today, PayTM wiki can boast about their 1.2 billion monthly transactions and 150 million active users monthly.
PayTM wiki shows that PayTM was the biggest Initial Public Offer (IPO) offered in the Indian Share Market.
It was listed in the share market in November 2021 and surpassed the biggest offer by Coal India of Rs. 15,200 Crores in 2010.
Despite making a debut in the share market, PayTM managed to cross the milestone of Rs. 1 lakh crore capitalization.
The platform reached a market cap of Rs. 1.19 lakh crores on BSE.
The shares were listed on BSE at Rs. 1955, with a discount of 9.06% on the issue price.
Later, when the market cap fell to Rs. 1.10 lakh crore, then the shares dipped by 20.47% to Rs. 1704. In the NSE, PayTM stock prices opened at Rs. 1950, with a 9.30% discount. The shares fell by 20.93% to Rs. 1700 on NSE.
Growth of PayTM
PayTM has changed the entire Indian retail landscape with its easy mobile-based payment options.
Although the platform was started as an online bill payment and recharge platform, it has evolved to make a variety of transactions with over 5000 transactions per second being made.
The e-wallet is secured with Verisign-certified SSL 128-bit encryption technology that makes sure that all data of users is safe.
The platform also launched its PayTM Payment Bank option in 2017 which serves more than 6 lakh villages in the country via digital payment options.
PayTM Raising The Bar
Vijay Sharma and PayTM’s success story is an inspiration that touched the lives of more than a billion Indians.
With the option of financial services, like offering Small and Medium Enterprises (SMEs) digital financial technology, PayTM has provided SMEs the opportunity to grow.
But Sharma has more in store.
But, payment with financial services remains their biggest bet.
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FAQ (Frequently Asked Questions)
i) What is PayTM?
Paytm is an acronym that stands for ‘Pay Through Mobile’; and is an eCommerce platform that promotes online payment and shopping through a registered mobile number.
ii) Who Found PayTM and When?
PayTM was the brainchild of Vijay Shekhar Sharma in 2010 and was initially launched as a prepaid mobile recharge platform. In 2014, PayTM launched its e-wallet section to make India cashless and digital.
iii) Who Were the Key Investors In PayTM?
One of the major investors in PayTM in 2015 was Ratan Tata, while others like Alibaba Group and Ant Financial Services Group joined later.
iv) What Are The Main Services that PayTM Provides?
According to PayTM wiki, the platform offers key services like online shopping, hotel reservations, movie ticket booking, mobile recharge, travel ticket reservations, and payment of bills like electricity, water, etc.
v) What is a Paytm Payment Bank?
PayTM Payment Banking is India’s first payment bank licensed by RBI to provide customers with banking services like money transfers, debit cards, savings accounts, and online transfers.
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The success story of Vijay Sharma Success Story and PayTM that you have read on the PayTM wiki is one of determination, passion, smart work, and grit.
Not only does PayTM offer financial services and online payment options, but it sells everything from train tickets to air purifiers and even has an online gaming section.
The company has not left any stone unturned in scaling the digital finance mountain.
Paytm’s success story highlights how to evolve with the evolving market and never give up.
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