Online payments and mobile wallet company Paytm are planning to invest a total sum of Rs 5000 crore over next three years, while competing with global giants like Google. “Paytm has invested more than Rs 5,000 crore in mobile payment.” “We have invested the most and will continue to be the largest investor (in digital payments) in the country.” Said founder Vijay Shekhar Sharma.
$1.4 billion Equity Financing from SoftBank
Paytm’s owner One97 Communications announced a $1.4-billion, or Rs 9,000-crore, equity financing round from SoftBank in May. The firm also plans to become the largest issuer for Unified Payments Interface (UPI) although competitors including Flipkart-owned PhonePe and Google Tez have a significant lead.
Paypal and WhatsApp soon to Start their Payment Services
Paytm launched its UPI services nearly a year after the demonetization of Rs 500 and Rs 1,000 notes. Now Paypal and WhatsApp are planning to begin their payments services in India soon.
Customers Creating their Own Handles with Paytm
The main advantage Paytm has in comparison to peers using UPI railroads is that their customers can create their own handles with Paytm.
Paytm’s instalments keeping money operations additionally position it at leverage over non-bank instalment organizations, yet the test will be to inspire individuals to begin sparing critical sums with Paytm.