Paytm success story : Paytm business model of Vijay Shekhar Sharma

Paytm is one of the best mobile payment app. An e-commerce website that enables its users to pay online hassle-free. It provides us with services to pay online using phone numbers for various things like mobile recharge, movie tickets, online shopping, electricity bills, airline tickets, etc. Paytm provides its services in 11 languages. Nowadays, everyone has its application on their mobile phones. Paytm is now becoming a major source of monetary transfers in India. So without further ado, let me start Paytm success story: Paytm business model of Vijay Shekhar Sharma

About the Founder: Vijay Shekhar Sharma

Vijay Shekhar Sharma founded Paytm in the year 2010, who is currently the CEO of Paytm. He struggled a lot in his life due to his bad English, but he didn’t stop because of it

He did his graduation from Delhi College of Engineering. Unlike, Others he was not interested in being placed. Instead, he started a company called ‘x-communication’.

He came up with the idea of Paytm business and personally invested $2M, and we can clearly see the outcome of that. This is how it begins with the Paytm success story : Paytm business model of Vijay Shekhar Sharma

Paytm success story

The Expansion of Paytm business

Paytm has a span of over 11 years and more than 250 million registered users. There are various investors like Alipay, Alibaba groups, and Silicon Valley Bank which contributed to Paytm. Paytm then later launched Paytm wallet. It also provides a Reserve Bank Of India(RBI) approved e-wallet and payment gateway for Indian railways.

Then year after year, It stretched its development in all directions, which includes flight tickets, events, movies, railway booking, Paytm payment banks, Paytm gold, gift cards, and Paytm QR, which majorly contribute to the Paytm success story.

The largest digital bank of India is Paytm bank, which holds more than 58 million users. Paytm has also launched its access to Stock Broking and National Pension System.

Effects After Demonetisation

After demonetisation done by our honourable Prime Minister Shri Narendra Modi Ji, the use of Paytm began at a faster rate. Due to the crisis of low cash flow. People turned their attention to Paytm, which gave them a new and handy way out.

Demonetization was then the new reason for Paytm success story. Paytm became one of the primary sources to run the economy. In fact, Paytm register more than 100 million users.

Paytm success story : Paytm business model of Vijay Shekhar Sharma does not end here.

Success and Achievements

1. In 2017, Paytm business won the Diamond SABRE award for the company of the year in the SABRE award.

2. In 2017, it also won the gold SABRE award for financial professional services.

3. GQ recognized Mr. Vijay Shekhar Sharma in the 50 most influential young Indians.

4. Mr. Sharma has also been recognized as a data quest person of the year.

5. In 2017, he also won at entrepreneur Indian awards.

6. At The Entrepreneur’s Moneytech Awards 2017, Vijay Shekhar Sharma was recognized as the Entrepreneur of the Year.

7. Vijay Shekhar Sharma was listed in the 2017 Time 100 List of Most Influential People in the World.

India’s One of the Best Mobile Payment App

For the first time in India, Paytm became the payment app. In 2020, it was regarded as India’s One of the Best Mobile Payment App. Paytm can only be used in regions of India. It could handle 5000 transactions per second. Everybody is now trusting Paytm due to its secured transactions.

Through Paytm, users can pay at 0% charge. Paytm system uses secure sockets layer technology to guard the security of its users. It is not only secure but also robust.

Paytm is at an all-time high with 10 million monthly transactions. Paytm business started at a very slow pace. Now managed to become what it is right now and still playing in profits.

Hope you love my article Paytm success story : Paytm business model of Vijay Shekhar Sharma

For more articles, you can refer to the links given below.

1. 7 Key Success Factors of Entrepreneurship – Every Entrepreneur Should Know