Success Story of Paytm | How Paytm Started in India
Paytm is an Indian MNC specializes in various domains such as digital payment system, e-commerce and financial services. Let’s see the success story of Paytm and How Paytm Started
Paytm started its inception in Noida. It is currently available in 11 Indian languages and provides various offerings like mobile recharges, bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.
They provides financial services where you can buy or sell Mutual Funds, Bonds, Shares, F&O etc. Also provides banking facility with the name Paytm Payments Bank.
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By the End of this article, you’ll know:
- Paytm Company Highlights
- About Paytm
- About Paytm Founder
- How Pyatm Started in India?
- Paytm Case Study
- Success Story of Paytm
- Paytm SWOT Analysis
- Business Strategies of Paytm
- Paytm Success Story
Table of Contents
Paytm Company Highlights
| Startup Name | Paytm |
|---|---|
| Headquarters | Noida, Uttar Pradesh |
| Sector | Fintech |
| Founder | Vijay Shekhar Sharma |
| Founded | 2010 |
| Total Funding | 3.5 Billion Dollar |
| Revenue/Turnover | 1100 Crore (Approx. in 2021) |
| Parent Organization | One97 Communications |
| Website | www.paytm.com |
About Paytm
Paytm is a leading bill payments app like mobile recharges, DTH recharge facilities, Utility bill payments, Movie Bookings, Travel Bookings (Train, Flight, Metro) and more that offers financial solutions also to its customers through its platform.
The parent organization of Paytm is One97 Communications and their tagline is “Paytm karo”.
The Paytm company was founded by Vijay Shekhar Sharma in 2010 which is based in Noida, Uttar Pradesh. This was initially designed to cater to the merchants and the customers to help them send and receive money online. The company rapidly grew popular and expanded to include wallet services, banking facilities, e-commerce facilities, and more to make life easier for the Indians.
Paytm Payments Bank is said to be the country’s largest digital bank with more than 58 million account holders.
They started the platform for sale of purchase of Shares, Mutual Funds, Digital Gold named ‘Paytm Money’ is regarded as the biggest investment platform and contributes to Systematic Investment Plans (SIP) in the Mutual Funds Industry.
It has also gained access to launch its services in Stock Broking, and National Pension System (NPS). Furthermore, Paytm First Games and Paytm Insurance have also gathered the usage of millions of people globally. Besides, Paytm also launched a mini app store to support Indian app developers and entrepreneurs.
The digital payments market saw transactions worth USD 5.44 trillion in 2020, which is further estimated to be worth around $11.29 trillion by 2026 at a CAGR of 11.21% during the period of 2021-2026. After PhonePe and GooglePay, Paytm is the third-largest player in the digital payments market in India.
Paytm Products (Categories)
- Paytm Wallet
- Paytm App
- Paytm Money
- Paytm Payments Bank
- Paytm Insurance
- Paytm First Credit Card
- Paytm First Games
About Paytm Founder
1. Vijay Shekhar Sharma (Founder)
Vijay Shekhar Sharma is the founder and CEO of Paytm. Sharma ji is counted one of the top digital entrepreneurs in India.
He was ranked as India’s youngest billionaire in 2017 by Forbes when his net worth was calculated at $1.3 billion. The Paytm CEO is also a recipient of the highest civilian honor of the Government of Uttar Pradesh, Yash Bharati. He is ranking at the position of #92nd richest person in India
Vijay was born in a middle-class family in Aligarh. He was good in academics, his father being a school teacher. Though he was a bright student, he was schooled in a Hindi medium school and soon realized his weakness in English during his college admissions.
He was later admitted to the Delhi College of Engineering (DCE) from where he completed his B.Tech in Electronics and Communications Eng ineering.
From the beginning he wants to start something. He developed indiasite.net while he was still in college in 1997 to start with his entrepreneurial journey. After 2 years, he sold his website for $1 million but only to scale new heights as an entrepreneur.
He founded One97 Communications in 2000 to offer mobile news content, ringtones, jokes, cricket scores, and exam results. This company later became the cradle of Paytm, which he started in 2010 with an initial investment of $2 million in Noida.
2. Amit Nayyar (Ex-President)
Paytm has operated with an efficient team that has progressed with the growth of the company. However, not all of them have remained with the company. Yes, the company, much like the others, has seen quite a number of employees quitting the firm. Amit Nayyar, who served as a President for 20 months, has left the organization on July 9, 2020. According to sources close to Nayyar, he resigned due to personal reasons.
3. Rohit Thakur (Ex-CHRO)
Rohit Thakur was at the position of CHRO of Paytm when he gave his resignation. It was on July 10, 2021, as a top-level resignation of Paytm.
4. Abhishek Arun (Ex- COO)
The Chief Operating Officer (COO) of Paytm Payments Bank “Abhishek Arun” has spent 5+ years at Paytm and has recently announced his exit via a Linkedin post, as per the reports dated December 23, 2021. Arun was previously the Senior Vice-President at RBL Bank. Renu Satti, COO, offline payments of Paytm has also allegedly submitted her resignation to the management of Paytm.
However, Satti’s resignation is still in doubt. Moreover, there is a significant probability that she might be retained.
Satti, who has worked with Paytm for more than 15 years, accomplished numerous leadership hats including the designation of the CEO of Paytm Bank has reportedly resigned lately. Satti has officially taken an exit from the company and it will be Bhavesh Gupta, CEO of Paytm Lending, who will take the charge of offline payments along with his usual responsibilities, as of December 24, 2021. Satti will take a career break, as confirmed in the latest company filing.
Abhishek Gupta, who has joined the company in 2020 as the Senior Vice-President and COO-lending has also resigned recently and is currently on his notice, as of December 23, 2021.
How Paytm Started | Story behind the inception of Paytm (One97 Communications)
In 2000, Vijay Shekhar Sharma established Paytm’s parent organization One97 Communications, through taking a loan of Rs 8 lakh. He went on to finally establish the Noida-based Paytm in 2010 as a prepaid mobile and DTH (direct-to-home) recharge platform.
Source – BusinessToday.In
But from those humble beginnings, he ended up with a great force Paytm into the country’s most valued fintech start-up in less than a decade.
Post the launch of the Paytm Wallet in 2014, it became one of the most used digital wallets across India.
Over the course of the next few years, Paytm widened its base and expanded into e-commerce through ticket bookings and online deals. Its leads the market share in the year 2016 after the government’s shock ban on high-value currency notes (Rs500 and Rs1000 Notes) on 8th November 2016 magnified digital payments. High percentage of people adapt online payments method at that time which will help Paytm to grow rapidly.
After the demonetization in India, “Paytm Karo” became the legendary catchphrase that every Indian got hooked on to when it came to online shopping and as well as offline shopping because Payment facility through QR Code is acceptable on almost every shop or Petrol Pump in the market.
In the year 2017, the company became the country’s first-ever payments app to surpass the threshold of 100 million downloads. Today Paytm boasts of 1.2 billion monthly transactions (as of March 1, 2021) with over 150 million monthly active users.
Paytm IPO Details
Paytm was the biggest IPO (Initial Public Offer) offered in the Indian Share Market. Paytm company was listed in the Share Market on 18th November 2021. It’s offer surpassed the biggest public offer by Coal India of Rs 15,200 Crores in 2010.
Despite making a debut in the Market, Paytm managed to cross the milestone of Rs 1 lakh crore market capitalization. The digital payments firm reached a market cap of Rs 1.19 lakh crore on BSE.
The share listed at Rs 1,955 on BSE, a discount of 9.06% to the issue price. Later, the market cap of the firm fell to Rs 1.10 lakh crore, as the share further dipped 20.47% to Rs 1,704 on BSE.
On NSE, the share of Vijay Shekhar Sharma-led company opened at Rs 1,950, a 9.30% discount to the IPO issue price. The share further fell 20.93% to Rs 1,700 on NSE.
THE CURRENT SHARE PRICE OF PAYTM IS BETWEEN RS 900-1000 (FEB 2022)
Paytm – Competitors
The top competitors of Paytm are:
- PayPal
- FreeCharge
- Flipkart
- Razorpay
- MobiKwik
- Amazon
Paytm proves to be the best in its field with its advanced technologies and strategic business models.
FAQs
What is the name of Paytm Parent Company?
The Parent company of Paytm is One97 Communications
Is Paytm an Indian Company or Chinese?
Paytm is a Indian company, but one of its major investor is from china name “Ant Financial”.
How many employees works in Paytm?
There are more than 1200 employees in Paytm all over the world.
Is Paytm an Indian Company?
Yes it is an Indian company which was founded in 2010 by Vijay Shekhar Sharma. Paytm is an Indian fintech company that specializes in digital payments and ecommerce and comes with the facility of digital wallets.
