The founder of one of India’s most trusted technology brands,Vijay Shekhar Sharma has come a long way. As an entrepreneur, he has put his 110% effort to make his startup a success.Paytm is a payment gateway that provides payment services for customers and merchants.
Year of Launch:2010
Founder: Vijay Shekhar Sharma
Estimated Valuation: $15 billion
Investors: SoftBank, SAIF Partners, Alibaba Group, and Ant Financial.
Paytm started out as a digital wallet in its initial days but has transformed into a completely new payments platform. It has been able to emerge as the top fintech company even after facing fierce early competition.
Vijay had built his first company- ‘XS Communications’, a college-based startup that created Content Management Systems during his college days.
While India’s telecom infrastructure was improving in 2010, Vijay’s investors were not confident about the idea of a mobile-first consumer service.So, he personally put $2 Mn at stake to finally launch the brand.
Recent News: It has announced the expansion of its instant money transfer feature, called Rent Payments. Tenants are enabled to transfer their monthly rent instantly to the bank account of their landlords, through their credit cards. Paytm has also launched a cashback of up to EUR 11,34 on such transactions. Additionally, by earning cashback on every transaction, users can accumulate credit card points.
Looking forward to a cashless India, Vijay’s dream is to bring half a billion Indians to the mainstream economy. His dream is to build India’s first $100 Bn firm, a company that would make the nation proud.
Vijay Shekhar Sharma discusses how the mobile payments company has helped transform the economy in India and what is next in the digital ecosystem for consumers.
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