Paytm NEWS

Paytm app is an Indian app that provides financial services and mobile payments to the customers. full form of paytm is 'pay through Mobil.' Vijay Shekhar Sharma, who is the organization's MD and CEO, created it in 2000. The Noida-based business provides both consumers and businesses with payment services. Additionally, it supports small enterprises' ability to conduct business and provides loan disbursal services on its platform. Its parent firm, One97 Communications Limited (OCL), was listed on Indian stock markets on November 18, 2021, following an initial public offering (IPO) that was the biggest in India at the time. A revenue increase is being recorded by the firm of 77 percent in every year at 4974 crore in Financial Year 22, in spite of being gross merchandise value more than double of 8.5 lakh crore in Financial Year 22 from the amount of 4 lakh crore in Financial Year 2021

Indian payments bank Paytm Payments Bank (PPBL), established in 2015, is headquartered in Noida. It was established in November 2017 after receiving approval to operate a payments bank from the Reserve Bank of India in the same year. The bank was given a scheduled bank status by the RBI in 2021. All of the services that Paytm Payments Bank provides as a wallet are also included, in addition to extras like: No minimum paytm money balance necessary. Digital transactions in general are free. On the funds placed in the savings account, there is an annual interest rate of 2.5 percent.

Paytm introduced its Paytm Mall app in February 2017, which enables customers to shop from 1.4 lakh registered retailers.  The largest B2C shopping site in China, TMall, served as the blueprint for Paytm Mall. To ensure customer trust, sellers must go through Paytm-certified warehouses and platforms. In India, Paytm Mall has established 17 fulfillment centers and collaborated with over 40 couriers. In the year 2018, Alibaba group and SAIF partners gave Paytm Mall  about $200 million. It reported a loss of almost 1,800 crore rupees in May 2018 and an income of 774 crore rupees for the fiscal year 2018. Paytm Mall's market share decreased from 5.6% in 2017 to just 3% in 2018.

Paytm was awarded with the best FinTech Growth Story IAMAI India Digital Award 2021 by the internet and mobile association of India. At the 2016 Forbes Leadership Awards, the Outstanding Startup of the Year Award was given to it. The Financial Times' 2016 FT Future of Fintech Awards went to Paytm. The Meffys Awards 2015 finalist for mobile money was revealed to be Paytm. The Gold for Mobile App award by the Mobile Marketing Association & Silver for commerce by the MMA Smarties Award in 2014.