homevideos Newsbusiness NewsPaytm will reach break even by end of 2021, says founder Vijay Shekhar Sharma
Paytm will reach break-even by end of 2021, says founder Vijay Shekhar Sharma
The company also said that it is now one of the largest enablers of digital payments in the country with over 20 million merchants on its platform and it is now targeting 50 million merchants over the next few years.
Homegrown payments player Paytm claims to have achieved over 1.4 billion transactions in March -- these transactions include digital payments with wallet, UPI, cards and net-banking services.
The company also said that it is now one of the largest enablers of digital payments in the country with over 20 million merchants on its platform and it is now targeting 50 million merchants over the next few years.
In an exclusive interaction with Megha Vishwanath, Paytm founder Vijay Shekhar Sharma said, "Pandemic has come out as one of the biggest drivers for digital payments, contactless payments. Now, there is no shopkeeper who is not wanting to accept digital payment."
Sharma expects the company to breakeven by end of 2021. "We as a company will reach breakeven by the end of this financial year or this calendar year, which is 2021 and once we have reached the breakeven point we will quickly see the opportunities. Today special purpose acquisition company (SPAC) seems to be the bigger opportunity than even an international listing."
"So, there is a international listing, there is SPAC, there is domestic IPO, there is domestic IPO plus ADR. We as a company understand that we are a company of India, we are a company, which is built, operated, run and managed by Indians, so we sit here with aspirations of many Indians. So, it will be of our interest to find out the best choice and of the 4-5 choices that I quoted, all 5 are on the table."
Watch video for more.
(Edited by : Bivekananda Biswas)
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