Paytm history all about paytm

paytm history all about paytm
FOUNDER                  :-  VIJAY SHEKHAR SHARMA
FOUNDED                  :-  2010 IN NOIDA,India
HEADQUARTER       :- NOIDA,INDIA
AREA OF SERVICE. :- INDIA
WEBSITE                   :- WWW.PAYTM.COMPaytm  ( pay through mobile) is one of the latest e-commerce shopping website launched in 2010. Owned by one97 communication which intially focused on mobile recharge ,DTH recharge and bill pay. Paytm entered itself to e-commerce in India in 2014,provide similar service like flipkart ,amazon,snapdeal.

paytm history all about paytm

HISTORY:-

Paytm was founded by one97 communication in 2010 as a prepaid mobile recharge website.the  full name paytm pay through mobile.

The name Paytm is supposedly an acronym for Pay Through Mobile. Today, it is India’s most popular online destination for prepaid mobile & DTH recharges and shopping, and its Android and iOS apps have been ranked among the most popular apps. In only 3 years since the founding, the company created a user base of 25 million wallet users and 10 million app downloads.

paytm history about paytm

SERVICES:-

In 2014, the company launched Paytm Wallet, India’s largest mobile payment service platform with over 40 million wallets. The service became the preferred mode of payment across leading consumer internet companies such as Uber, Bookmyshow, Makemytrip.

Paytm funding history

Paytm got a major boost in e-commerce when Indian industrialist Ratan Tata made personal investment in the firm in March 2015.In the same month, the company received a $575 million investment from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.

Partners of paytm

Paytm works with all mobile operators in all states in India for prepaid mobile, DTH and Datacard recharges and postpaid mobile, landline and Datacard bill payments. Its partners with the multiple national banks, for credit card, debit card and netbanking payments. Paytm also works with various billers for utility bill payments.

AWARDS AND RECOGNITION:-

In 2012, Paytm was recognized as the ‘Most Innovative Startup of the Year’ at the Entrepreneur India event organized by Franchise India. In 2013, the company received several awards, such as Knowledge Faber Best Mobile Wallet Program Award, a special mention in m Billionth Awards in mCommerce/mBusiness category, and MMA Smarties Award for mCommerce.

In 2014, Paytm App featured in Apple App Store’s Best of 2014 in the Mobile/DTH Recharge & Shopping Category. The company also won or was in the competition for Indian Express IT Award in Mobility Solutions 2014, finalist at the international Meffys in Consumer Trust category, Gold Winner at the MMA Smarties in the Mobile App category, Silver Winner at the MMA Smarties in the mCommerce category, recognition among Delhi/NCR’s Top 50 Brands at a celebration by Paulwriter, and the Best Mobile Money product at the 4th India Digital Awards.

In 2015, the company also received several awards, such as the Most Innovative Company of the Year 2014 Award at Business Standard Awards, Future Leaders at the NASSCOM Future Leaders event, Smart Innovators of 2014 at the Inc. India Awards, the Best Wallet Award at IAMAI’ India Digital Awards in Delhi on 15 January 2015. Company’s CEO, Vijay Shekhar Sharma, was recognized among the most Innovative CEOs of 2014 by Inc India.

paytm history

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Paytm payment bank

In 2015 Paytm received a license from Reserve Bank of India for starting India’s first payments bank. The bank intends to use Paytm’s existing user base for offering new services, including debit cards, savings accounts, online banking and transfers, to enable a cashless economy. The payments bank would be a separate entity in which the founder Vijay Shekhar Sharma will hold 51%, One97 Communications will hold 39% and 10% will be held by a subsidiary of One97 and Sharma.

Paytm is also approved as an operating unit for Bharat Bill Payment System, as a result of which users can pay their bills anytime and anywhere.

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