9/23/2021 Paytm - Wikipedia

Paytm
Paytm (a partial abbreviation for "pay through mobile") is
an Indian multinational technology company that specializes Paytm
in digital payment system, e-commerce and finance, based in
Noida. Paytm is currently available in 11 Indian languages and
offers online use-cases like mobile recharges, utility bill
payments, travel, movies, and events bookings as well as in-
store payments at grocery stores, fruits and vegetable shops, Type of Private
restaurants, parking, tolls, pharmacies and educational business
institutions with the Paytm QR code.[5] As of 2020, Paytm is Type of site Online shopping
valued at $16 billion.[6]
Payment systems
As per the company, more than 20 million merchants across Available in Multilingual
India use their QR code payment system to accept payments
directly into their bank account.[7] The company also uses Founded August 2010
advertisements and paid promotional content to generate Headquarters B-121, Sector 5,
revenues. Noida, Uttar
Pradesh, India
Area served India
Contents Owner One97
History Communications
Ltd.
Funding and share holding
Founder(s) Vijay Shekhar
Investments and acquisitions
Sharma
International expansion
Key people Vijay Shekhar
Canada
Sharma

Japan
(CEO)
Sponsorship
Amit Nayyar

Paytm Payments Bank (President)

Paytm Mall Ajay Shekhar
Controversies Sharma

Donations (Vice president)

Awards and recognition Industry E-commerce

See also Finance

References Products Paytm Mall

External links Paytm Payments
Bank
Paytm Money
History Gamepind

Paytm was founded in August 2010 with an initial investment Paytm Smart
of US$2 million by its founder Vijay Shekhar Sharma in Retail
Noida, a region adjacent to India's capital New Delhi. It Services Payment system

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started off as a prepaid mobile and DTH recharge platform, Mobile payments
and later added data card, postpaid mobile and landline bill Online shopping
payments in 2013.[8]
Revenue ₹3,281 crore
By January 2014, the company had launched the Paytm (US$460 million)
Wallet, which the Indian Railways and Uber added as a (FY 2020)[1]
payment option.[9] It launched into e-commerce with online
Net income ₹−2,597 crore
deals and bus ticketing. In 2015, it added education fees,
(US$−360 million)
metro recharges, electricity, gas, and water bill payments. .[10]
(FY 2020)[2]
In 2016, it launched movies, events and amusement parks Parent Vijay Shekhar
ticketing[11] as well as flight ticket bookings and Paytm QR.[12] Sharma
Later that year, it launched rail bookings[13] and gift cards. (14.67%)[3]

Ant Group
Paytm's registered user base grew from 11.8 million in August
2014 to 104 million in August 2015. Its travel business crossed (29.71%)

$500 million in annualised GMV run rate, with 2 million SoftBank Vision
tickets booked per month.[14] Fund (19.63%)

SAIF Partners
In 2017, it became India's first payment app to cross over 100 (18.56%)

million app downloads.[15] The same year, it launched Paytm Alibaba Group
Gold,[16] a product that allowed users to buy as little as ₹1 of (7.18%)

pure gold online. It also launched Paytm Payments

Berkshire
Bank[17][18] and ‘Inbox’, a messaging platform with in-chat
Hathaway (2.76%)

payments.[19] By 2018, it started allowing merchants to accept

Others (7.49%)

Paytm, UPI and card payments directly into their bank

accounts at 0% charge.[20][21]) It also launched the ‘Paytm for URL www.paytm.com (h
Business’ app (now called Business with Paytm App), allowing ttp://www.paytm.co
merchants to track their payments and day-to-day m) (Global)
settlements.[22] Its merchant base to grow to more than 7 Advertising Yes
million by March 2018.
Registration Required
It launched two new wealth management products - Paytm Users 35 crore (FY
Gold Savings Plan and Gold Gifting for long-term 2019)
savings.[23][24] (350 million)[4]
In January 2018, itentered into a joint venture with Alibaba Launched August 2010
Group-owned gaming company AGTech Holdings to launch Current status Active
Gamepind, a mobile gaming platform.[25] It was rebranded as
Native Android

Paytm First Games in June 2019.[26]

client(s) on iOS

In March 2018, Paytm Money was started with an investment Windows

of ₹9 crore[27][28] for investment and wealth management.[29]

In March 2019, the firm launched a subscription based loyalty program called Paytm First,[30] and
in May 2019, it partnered with Citibank to launch Paytm First credit card[31][32]

In July 2020, Tata Starbucks partnered with Paytm allowing its customers to order food online
during the COVID-19 pandemic.[33]

Funding and share holding

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Shareholders Shareholding
Vijay Shekhar Sharma 14.67%

Ant Group 29.71%

SoftBank Vision Fund 19.63%

SAIF Partners 18.56%

AGH 7.18%

Berkshire Hathaway 2.76%

Sharma Holding company own 5%

Total 100.0%

In October 2011, Sapphire Ventures (fka SAP Ventures) invested

$10 million in One97 Communications Ltd.[34]

In March 2015, Paytm received its huge stake from Chinese e-

commerce company Alibaba Group, after Ant Financial Services
Group, an Alibaba Group affiliate, took 40% stock in Paytm as
part of a strategic agreement.[35] Soon after, it received backing Paytm HQ in Noida, India
from Ratan Tata, the MD of Tata Sons.[36]

In August 2016, Paytm raised funding from Mountain Capital, one of Taiwan-based MediaTek's
investment funds at a valuation of over $5 billion.[37]

In May 2017, Paytm received its biggest round of stake by a single investor – SoftBank, thus
bringing the company's valuation to an estimated $10 billion.[38] In August 2018, Berkshire
Hathaway invested $356 million for 3%- 4% stake in Paytm,[39][40] although Berkshire Hathaway
confirmed that Warren Buffett was not involved in the transaction.[41]

On 25 November 2019, Paytm raised $1 billion in a funding round led by US asset manager T
Rowe Price along with existing investors Ant Financial and SoftBank Vision Fund.[42]

Investments and acquisitions

In 2013, Paytm acquired Plustxt for under $2 million. Plustxt was started by IT graduates Pratyush
Prasanna, Parag Arora, Lokesh Chauhan and Lohit V that allowed fast text messaging in any
Indian Language.[43]

In 2015, it invested $5 million in auto-rickshaw aggregator and hyperlocal delivery firm

Jugnoo.[44] T It also acquired Delhi-based consumer behaviour prediction platform Shifu[45] and
local services startup Near.in.[46] In 2016, it invested in logistics startups LogiNext and
XpressBees.[47]

In April 2017, it invested in healthcare startup QorQL[48] which uses artificial intelligence (AI) and
big data to assist medical care,. In July 2017, it acquired a majority stake in online ticketing and
events platform Insider.in,[49] backed by event management company Only Much Louder (OML)
and mobile loyalty startup MobiQuest. The same year, it acquired Little & Nearbuy, and merged
both.[50]

In June 2018, the company acquired the startup Cube26.[51]

As of September 2021, the company aims to IPO later in the year at a valuation of $25 billion.[52]
The IPO could be the largest IPO ever seen in India.[53]
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Paytm board has approved a resolution which would allot 47,042 equity shares to 60 employees
under its ESOP Scheme 2008 and ESOP Scheme 2019.[54]

International expansion

Canada

Paytm set its foot in the international market for the first time in Canada, on 16 March 2017.[55]

Japan

On 22 October 2018, Paytm entered Japanese finTech market and introduced 'Paypay' with
SoftBank and Yahoo Japan.[56]

Sponsorship
In July 2015, One97 Communications, the firm that owns the brand Paytm, acquired the title
sponsorship rights for India's domestic and international cricket matches at home for a period of
four years starting in August 2015.[57] The rights include sponsor branding of series with the title
sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast
sponsorship rights. This also includes all BCCI domestic (Ranji Trophy, Duleep Trophy, etc.)
matches in India.

Previously, Paytm had acquired sponsorship rights during the 8th season of Indian Premier
League. It has also served as an associate sponsor on Sony TV network (which has the telecast
rights for IPL) and was the official partner of the IPL team Mumbai Indians. In March 2018,
Paytm became the Umpire Partner of the IPL for five years.[58]

Paytm Payments Bank

In August 2015, Paytm received a license from
Reserve Bank of India to launch the Paytm
Payments Bank as a separate entity.[59] Founder
Vijay Shekhar Sharma will hold 51% share, One97 Paytm Payments Bank official logo
Communications 39% and 10% will be held by a
subsidiary of One97 and Sharma. The bank was
officially inaugurated in November 2017.[17]

It was set to launch over 1,00,000 banking outlets across India by the end of 2018.[60] However,
the bank's branches are yet to touch double digits.[61]

The Bank has appointed veteran banker Satish Kumar Gupta as its new Managing Director and
CEO.[62]

Paytm Mall
In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.4
lakh registered sellers.[63] Paytm Mall is a B2C model inspired by China's largest B2C retail
platform TMall. Sellers have to pass through Paytm-certified warehouses and channels to ensure
consumer trust. Paytm Mall has set up 17 fulfillment centres across India and partnered with more
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than 40 couriers. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in
March 2018.[64] In May 2018, it posted a loss of approximately ₹1,800 crore with a revenue of
₹774 crore for financial year 2018. The market share of Paytm Mall dropped to 3 percent in 2018
from 5.6 percent in 2017.[65]

Controversies
California-based PayPal filed a case against Paytm in the Indian trademark office for using a logo
with a similar colour combination to its own on 18 November 2016.[66]

In May 2018, the Indian investigative news agency Cobrapost released a video of an undercover
reporter meeting with Paytm's vice president, Ajay Shekhar Sharma who is the brother of Vijay
Shekhar Sharma.[67][68] During the meeting, he reportedly said the company had provided the
Indian Government with the personal data of Paytm users in the Indian state of Jammu and
Kashmir, violating user's privacy and policies.[69][70] Later, Buzzfeed reported that, Sharma has
close ties with India's ruling party Bhartiya Janata Party.[71] Meanwhile, in response, the company
tweeted that, it had never shared user's data with third parties, denied the contents in the video,
and stated that it had never received requests from law enforcement on Twitter.[72][73] Paytm also
stated that any person claiming otherwise "is not aware of the policy and is not authorised to speak
on behalf of the company".[74][75]

Paytm has alleged that the Indian telecom companies are not blocking numbers used for phishing
activities and sued them for ₹100 crore in the Delhi High Court.[76]

On 18 September 2020, the firmsofficial app was briefly unlisted from the Google Play Store
allegedly due to violations of the Play Store's gambling policy.[77][78] The company claimed that
Google did not offer any prior warning or give the company an opportunity to explain its views on
the contentious 'cashback' offers while claiming that Google's own payments app Google Pay
offered similar 'cashback' offers and suffered no repercussions.[79][80]

Donations
During the COVID-19 pandemic in India, Paytm contributed ₹10 to every single user who pays to
the PM CARES fund via their app; within ten days they had collected ₹100 crore in their app. Their
1,200 employees contributed their 15 days or even a few months of their salaries to the fund.[81]
Through their platform, Paytm made 21,000 oxygen concentrators available for people in need,[82]
and donated oxygen plants in 13 worst-hit cities to help hospitals get oxygen.[83]

Awards and recognition

Outstanding Startup of the Year Award at Forbes Leadership Awards 2016[84]

See also
E-commerce payment system

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External links
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