![]() In 2000, established Paytm's parent organization One97 communications, through an ₹8 lakh loan. A Delhi College of Engineering graduate, he established his first Tata XS Communications in college which developed Content Management Systems that had been adopted by publications such as The Indian Express. ![]() Paytm's renowned founder Vijay Shekhar Sharma had been brought up in Aligarh Uttar Pradesh. The wealth plumetted in 2021 however, and now stands at around Rs 18,900 crore, falling by 18 per cent from Rs 23,000 crore last year, as per the Hurun India Rich List 2021 This company was later on sold and the amount raised was used to launch the parent company of Paytm, i.e, One97 Communications in 2000 which continues to be headed by him.Īs per Business Insider, Vijay Shekhar Sharma’s wealth grew at a massive rate during the period of the last 5 years, having risen from the 171st rank in 2016 to 44th rank in 2020. Being a student of the Delhi College of Engineering he began his entrepreneurial venture sometime in 1997 through his website. The founder of Paytm is Vijay Shekhar Sharma. “If you’re not the customer, don’t build it.” Paytm’s main competitors include PayPal, Mobikwik, and Freecharge. There are various online payment portals accessible in the Indian nation and plenty of the users tend to have more than one payment app installed in their smartphones. Its other subsidiaries which include Paytm First Games as well as Paytm Insurance have also garnered a massive global user base. The platform has also been granted approvals to introduce its services in Stock Broking, Demat, and National Pension System (NPS). The platform’s subsidiary ‘Paytm Money’ is considered to be the nation’s biggest investment platform and is also one of the biggest contributors of Systematic Investment Plans (SIP) to the Mutual Funds Industry. Paytm alongside One97 Communications is the owner of Paytm Payments Bank which holds over 58 million account holders. ![]() The platform’s parent organization is One97 Communications which is based in Uttar Pradesh’s Noida. Paytm is a prominent financial services firm that facilitates various financial solutions to its customers via offline as well as online platforms. The platform presently permits its users to recharge through their mobile number for services such as paying their utility bills, transferring funds to other bank accounts, booking tickets for flights, trains or buses or booking hotel reservations, and receive many gift vouchers or cashback offers. Yet over the last couple of years, the platform has enhanced its scope and has engaged a wide range of services within the umbrella of its operations. Paytm is primarily an Indian e-commerce website as well as an application that allows its users to practice online payment for various services.Īt first, this digital payment platform was adopted for undertaking payments for limited utilities such as mobile, DTH recharge, and shopping bills. The acronym for “Pay Through Mobile” - Paytm had been established in 2010 by Vijay Shekhar Sharma. Glimpses of the interesting journey of this platform have been highlighted through this article. Paytm is one such platform which has essayed an integral role in shaping the present retail industry by revolutionizing the payment approach.Īs the platform of paytm expands further with additional e-retail as well as e-commerce stores, the scope and potential of the digital payments platform grow. The convenience of these online payment platforms is the main advantage they hold which has played an integral role in their widespread application.Īfter the advent of demonetization, “Paytm Karo” became the legendary phrase that popped in the minds of almost every Indian when it came to online shopping. But that's hardly an issue when you're carrying your phone and online payment platforms enter the picture. Imagine a scenario where you’ve set out for an exhausting morning run and are thirsting for a bottle of water, only to realize you forgot to carry your wallet along.
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