Is Paytm at War with the Competition?

Is the fintech giant Paytm is at war with everyone? Paytm stands for Pay through mobile, India's largest mobile payments and commerce platform. It provides an application-based platform to pay installments, schedule travel, book hotels and tickets, reserve rooms, buy gold, buy gifts, and so on.

Paytm?has evolved into an Indian juggernaut that manages various banking services, credit cards, advances, a protection-focused speculation platform, shared assets, and so on. Paytm Mall is an extended service provided by Paytm for online shopping for various items, including clothing, accessories, hardware, toys, and culinary items. Numerous services, including Paytm wallet, cater to almost 100 million registered users.

One97 Communications Limited, the parent company of Paytm, was founded in 2000 by?Vijay Shekhar Sharma?with a loan of Rs 8 lakh. In 2010, he launched the Noida-based Paytm as a platform for prepaid cell phones and DTH (direct-to-home) recharges. But he transformed Paytm from those early roots into India's most valuable financial start-up in less than ten years. The Paytm Wallet was one of India's most popular digital wallets after its inception in 2014. The following few years saw Paytm grow its user base and enter the e-commerce space by enabling online shopping and ticketing. After the government's shocking ban on high-value currency notes intensified digital payments in 2016, their use surged.

The business became the first payment app in the nation to achieve 100 million downloads in 2017. As of March 1, 2021, Paytm had 1.2 billion monthly transactions and more than 150 million active users. After Paytm led the way in digital payments in the nation, the industry quickly took off as Amazon, Google, WhatsApp, and Walmart's Phone Pe all introduced their payment services to partake in the lucrative market, which EY predicts will reach over $95.29 trillion by the end of March 2025