Paytm is an Indian worldwide monetary innovation organization represent considerable authority in advanced installment framework, internet business and monetary administrations. It is situated in Noida. The organization gives its enrolled clients an application through which they can make monetary exchanges and installments to different shippers and monetary establishments.
According to the organization, multiple crore dealers across India utilize their QR code installment framework to acknowledge installments straightforwardly into their ledger. Its gross product esteem in FY 2020-21 across all stages was over ₹400,000 crore (US$52 billion). In 2020, Paytm's image esteem was assessed to be US$6.3 billion, making it one of the main 10 most esteemed brands in India.
Paytm Foundation
Paytm was founded in August 2010 in Noida, Delhi NCR by its organizer, Vijay Shekhar Sharma. It acts as a multi-purpose prepaid and DTH reactivation phase, with the addition of installment payments for information cards and mobile invoices, which will be prepaid in late 2013.
In October 2011, Sapphire Ventures (SAP Ventures) invested $ 10 million in One97 Communications Ltd. As of January 2014, the organization offered a Paytm wallet, which Indian Railways and Uber added as an installment option. Ship to web business using online ordering and shipping marks.
In 2015, it added instruction charges, metro re-energizes, power, gas, and water bill installments. Paytm's enlisted client base developed from 1.18 crore in August 2014 to 10.4 crore in August 2015. Its movement business crossed $500 million in annualized GMV run rate, with 20 lakh tickets booked each month.
In March 2015, Paytm accepted its immense stake from Chinese internet business organization Alibaba Group, after Ant Financial Services Group, an Alibaba Group partner, put 40% confidence in Paytm as a component of an essential understanding. Before long, it got backing from Ratan Tata, the MD of Tata Sons.
In August 2016, Paytm raised subsidizing from Mountain Capital, one of Taiwan-based MediaTek's speculation assets at a valuation of more than $5 billion. Likewise in 2016, it sent off films, occasions and carnivals tagging as well as flight ticket appointments and Paytm QR. Sometime thereafter, it sent off rail appointments and gift vouchers.
In May 2017, Paytm received the largest equity funding round in history from a single financial backer, SoftBank, raising the valuation of the organization to an estimated $ 10 billion. In August 2018, Berkshire Hathaway paid $ 356 million in Paytm's 3% -4% stake, but Berkshire Hathaway confirmed that Warren Buffett had nothing to do with the exchange.
In 2017, it turned into India's most memorable installment application to get north of 10 crore application downloads. That very year, it sent off Paytm Gold, an item that permitted clients to purchase just ₹1 of unadulterated gold on the web. It additionally sent off Paytm Payments Bank and 'Inbox', an informing stage with in-visit installments. By 2018, it began permitting dealers to acknowledge Paytm, UPI and card installments straightforwardly into their financial balances at 0% charge. It additionally sent off the 'Paytm for Business' application (presently called Business with Paytm App), permitting traders to follow their installments and everyday settlements. Its vendor base to develop to in excess of 70 lakh by March 2018. It sent off two new abundance the board items - Paytm Gold Savings Plan and Gold Gifting for long haul investment funds. In January 2018, it went into a joint endeavor with Alibaba Group-possessed gaming organization AGTech Holdings to send off Gamepind, a versatile gaming stage. It was rebranded as Paytm First Games in June 2019. In March 2018, Paytm Money was begun with a speculation of ₹9 crore for venture and abundance the board.
In March 2019, the firm sent off a membership based faithfulness program called Paytm First, and in May 2019, it banded together with Citibank to send off Paytm First charge card On 25 November 2019, Paytm brought $1 billion up in a subsidizing round drove by US resource chief T Rowe Price alongside existing financial backers Ant Financial and SoftBank Vision Fund. In July 2020, Tata Starbucks banded together with Paytm permitting its clients to arrange food internet during the COVID-19 pandemic.
In July 2021, One97 Communications documented a draft distraction outline with the Securities and Exchange Board of India to send off its first sale of stock (IPO). It sent off its IPO in November 2021, raising ₹18,300 crore (US$2.4 billion) at a valuation of US$20 billion. It was the biggest ever IPO in India. The offers started exchanging on 18 November 2021, opening at ₹1,950 on the NSE, 9.3% underneath the upper band of the IPO cost range, and shut down over 27% at ₹1,560, making it the greatest drop on a posting day in Indian IPO history.
In December 2021, Paytm sent off Paytm Wealth Academy.
Investment and acquisitions
In 2013, Paytm obtained Plustxt for under $2 million. Plustxt was begun by IT graduates Pratyush Prasanna, Parag Arora, Lokesh Chauhan and Lohit V that permitted quick text informing in any Indian Language.
In 2015, it put $5 million in auto-cart aggregator and hyperlocal conveyance firm Jugnoo. It additionally gained Delhi-based purchaser conduct forecast stage Shifu and neighborhood administrations startup Near.in. In 2016, it put resources into coordinated factors new businesses LogiNext and XpressBees.
In April 2017, it put resources into medical services startup QorQL which utilizes man-made consciousness (AI) and huge information to help clinical consideration,. In July 2017, it procured a larger part stake in internet tagging and occasions stage Insider.in, upheld by occasion the executives organization Only Much Louder (OML) and versatile devotion startup MobiQuest. That very year, it procured Little.
In June 2018, the organization gained the startup Cube26. In January 2019, it procured the inn booking stage NightStay.
Paytm board has supported a goal which would apportion 47,042 value offers to 60 workers under its ESOP Scheme 2008 and ESOP Scheme 2019.
In October 2021, Paytm procured computerized loaning organization CreditMate.
Global extension
Canada
Paytm Labs Inc. was laid out in Toronto, Ontario in 2014 as an innovative work division. Paytm sent off installment administrations for the Canadian market on 16 March 2017. Paytm sent off its bill installment rewards program in Canada on 11 April 2018.
Japan
Fundamental article: PayPay
Paytm laid out a joint endeavor with SoftBank and Yahoo Japan, called PayPay Corporation, to offer administrations in the Japanese market. Paytm sent off the PayPay application, a QR-based installment settlement administration, in Japan on 22 October 2018.
Sponsorship
In July 2015, One97 Communications, the firm that claims the brand Paytm, procured the title sponsorship privileges for India's homegrown and global cricket matches at home for a time of four years beginning in August 2015. The privileges incorporate support marking of series with the title support logo, assignment as the title backer of the series, perceivability at the arena, and broadcast sponsorship freedoms. This likewise incorporates all BCCI homegrown (Ranji Trophy, Duleep Trophy, and so on) matches in India.
Beforehand, Paytm had procured sponsorship freedoms during the eighth time of Indian Premier League. It has likewise filled in as a partner support on Sony TV organization (which has the broadcast privileges for IPL) and was the authority accomplice of the IPL group Mumbai Indians. In March 2018, Paytm turned into the Umpire Partner of the IPL for a very long time.
Paytm Payments Bank
Paytm Payments Bank official logo
In August 2015, Paytm got a permit from Reserve Bank of India to send off the Paytm Payments Bank as a different element. Organizer Vijay Shekhar Sharma will hold 51% offer, One97 Communications 39% and 10% will be held by an auxiliary of One97 and Sharma. The bank was authoritatively initiated in November 2017.
It was set to send off more than 1,00,000 financial outlets across India toward the finish of 2018. Nonetheless, the bank's offices are yet to contact twofold digits.
The Bank has designated veteran investor Satish Kumar Gupta as its new Managing Director and CEO.
Paytm Mall
In February 2017, Paytm sent off its Paytm Mall application, which permits customers to shop from 1.4 lakh enrolled dealers. Paytm Mall is a B2C model enlivened by China's biggest B2C retail stage TMall. Merchants need to go through Paytm-confirmed distribution centers and channels to guarantee shopper trust. Paytm Mall has set up 17 satisfaction communities across India and banded together with in excess of 40 dispatches. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018. In May 2018, it posted a deficiency of around ₹1,800 crore with an income of ₹774 crore for monetary year 2018. The piece of the pie of Paytm Mall dropped to 3 percent in 2018 from 5.6 percent in 2017.
Controversies
California-based PayPal documented a body of evidence against Paytm in the Indian brand name office for utilizing a logo with a comparative variety blend to its own on 18 November 2016.
In May 2018, the Indian analytical news office Cobrapost delivered a video of a secret journalist meeting with Paytm's VP, Ajay Shekhar Sharma who is the sibling of Vijay Shekhar Sharma. During the gathering, he supposedly said the organization had given the Indian Government the individual information of Paytm clients in the Indian province of Jammu and Kashmir, disregarding client's protection and arrangements. Afterward, that's what BuzzFeed revealed, Sharma has close binds with India's decision party Bhartiya Janata Party. In the interim, accordingly, that's what the organization tweeted, it had never imparted client's information to outsiders, denied the items in the video, and expressed that it had never gotten demands from policing Twitter. Paytm additionally expressed that any individual guaranteeing in any case "doesn't know about the strategy and isn't approved to talk for the benefit of the organization".
Paytm has affirmed that the Indian telecom organizations are not obstructing numbers utilized for phishing exercises and sued them for ₹100 crore in the Delhi High Court.
On 18 September 2020, the association's true application was momentarily unlisted from the Google Play Store supposedly because of infringement of the Play Store's betting strategy. The organization asserted that Google offered no earlier admonition or offer the organization a chance to make sense of its perspectives on the disagreeable 'cashback' offers while guaranteeing that Google's own installments application Google Pay offered comparative 'cashback' offers and experienced no repercussions.
In March 2022, Bloomberg announced that a RBI review found organization servers imparting client information to Chinese substances that had a stake in Paytm. While the organization denied the claims, ET detailed that RBI was arranging a free IT review of the information streaming to Chinese substances.
Charity
During the COVID-19 pandemic in India, Paytm donated $ 10 to all customers paid by PM CARES Reserve through the app. Within 10 days he deposited 100 rupees on the order. Its 1,200 employees donate 15 days or months of wages to real estate.
Through their foundation, Paytm made 21,000 oxygen concentrators accessible for individuals out of luck, and gave oxygen plants in 13 most terrible hit urban communities to assist emergency clinics with getting oxygen.
Grants and acknowledgment
It won the IAMAI's India Digital Award 2021 for Best FinTech Growth Story by the Internet and Mobile Association of India.
It was given Outstanding Startup of the Year Award at Forbes Leadership Awards 2016.
Paytm was granted the FT Future of Fintech Awards by the Financial Times in 2016.
Paytm was declared as the finalist of Meffys Awards 2015 under the portable cash class.
It won the MMA Smarties Award Gold for Mobile App and Silver for mCommerce by the Mobile Marketing Association in 2014.
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