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Paytm is an Indian electronic payment and e-commerce brand based out of Delhi NCR, India. Launched in August 2010,[4] it is the consumer brand of parent One97 Communications. The name is an acronym for "Payment Through Mobile."[citation needed] The company employs over 13,000 employees as of January 2017 and has 3 million offline merchants across India. It also operates the Paytm payment gateway and the Paytm Wallet.

Paytm logo.png
Type of business Private
Type of site
Payments bank
Founded 2010
Headquarters Noida, Uttar Pradesh, India
Founder(s) Vijay Shekhar Sharma
Key people Vijay Shekhar Sharma (CEO)
Amit Sinha (COO)[1]
Services Online shopping
Payment system
Ticket booking
Parent One97[2]
Alexa rank 493 (July 2017)[3]
Current status Online

Among other sources of funding, in 2015, Paytm became the first Indian company to receive funding from Chinese eCommerce company Alibaba, after it raised over $625 million at a valuation of $1.5 billion. The Alibaba Group was the biggest stakeholder in Paytm parent company One97 Communications.[5]




Paytm was founded and incubated by One97 Communications Limited in 2010 as a prepaid mobile recharge website. In an interview, its founder Vijay Shekhar Sharma related how he was inspired during a visit to China, when he saw vegetable vendors using their mobile phones to receive payments from some customers. This led to him establishing Paytm wallet in 2013.[6]

In 2013, the company launched Paytm Wallet, which became India's largest mobile payment service platform with over 150 million wallets and 75 million Android based app downloads as of November 2016.[7] The surge in usage of the service was largely due to the demonetization of the 500 and 1000 rupee currency notes.[8] After 8 November 2016, Paytm's transactions and profit increased significantly.[9][10]

Paytm has invested $5 million in auto rickshaw aggregator and hyperlocal delivery firm Jugnoo.[11] It has also acquired Delhi-based consumer behavior prediction platform Shifu for $8 million[12] and local services startup for $2 million.[13]


In March 2015, Indian industrialist Ratan Tata made a personal investment in the firm.[14] The same month, the company received a $575 million investment from Alibaba Group, [15] after Ant Financial Services Group, an Alibaba Group affiliate, took a 25% stake in One97 as part of a strategic agreement.[16] Paytm borrowed 300cr from ICICI Bank in March 2016 as working capital.[17] As May 18, 2017 Softbank invested $1.4 billion in the company, and as one of the Largest Funding in India's Ecosystem which valued paytm from $4.8 B to $8 B.[18] It was Softbank's single largest investment in India to date. Paytm had previously raised $500 million from Alibaba and Ant Financial.[19]

Payments bankEdit

In 2015 Paytm received a license from Reserve Bank of India to start one of India's first payments banks, called "Paytm Payments Bank Limited".[4] At the time, the bank intended 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.[20]

Paytm Payments Bank launched operations on May 23, 2017, initially with invite only system. From August 31, 2017, the services of the bank were open to everyone through Paytm Android and iOS app. [21]


In August 2016, Paytm received an investment from Mountain Capital, one of Taiwan-based MediaTek’s investment funds, which valued Paytm at of over USD$5 billion.[citation needed] Paytm launched bill payments services in Canada, its first overseas market in March 2017.[22][23]

In May 2017 Paytm Launched Paytm Payments Bank For Paytm E-Wallet Users.[24] Also in May 2017, PayTM was reported to be in talks to pump in $30 million in for a majority stake.[25] In July 2017, Paytm acquired a majority stake in, allowing its users to book events instantly.[26]

By June 2017, Paytm Mall, the recently launched online marketplace of the Noida-based organization, has confirmed that it is digitizing the catalogues of more than 1,000 cars and two-wheeler dealerships to increase online usage and offline sales.[27] In June 2017, The Economic Times reported that PayTM was seeking a license to set up a money market fund to enable its users to store cash and earn interest on it. They were awaiting an approval having already applied to India's central Reserve Bank of India to start the fund.[28]

Services and productsEdit

Service is available through a browser, and an app is available on the Android, Windows and iOS operating systems.

Paytm is also approved as an operating unit for integrated bill payment system Bharat Bill Payment System, allowing multiple payment modes for consumers.[29]

Paytm WalletEdit

The Paytm Wallet application enables users to book air tickets and taxis, mobile recharge, and payment of DTH, broadband and electricity bills among others. The money transfer feature is only available for mobile users, not for desktop.[30] Users can also pay for fuel at Indian Oil Petrol pumps and buy movie tickets at PVR Cinemas through the wallet.


A whole lot of products can be bought from PayTM in categories including electronics, home appliances, mobile phones, clothing with good cashback scheme for users. Booking bikes, cars, digital gold have been added recently in 2017.


  1. ^ "Paytm appoints Amit Sinha as COO of commerce biz". Times of India. Jun 12, 2017. 
  2. ^ "Alibaba enters India's e-commerce space with 25% stake in Paytm owner One97". India Times. 6 February 2015. Retrieved 30 March 2015. 
  3. ^ " Site Overview". Alexa Internet. 
  4. ^ a b Ganguly, Payal; Bhakta, Pratik (5 December 2016). "Paytm to transfer wallet business to payments bank". Economic Times. Retrieved 31 May 2017. 
  5. ^ "Paytm valuation jumps to $1.5 billion". January 16, 2015 – via Business Standard. 
  6. ^ "Paytm, always bringing the Uber experience to you". #PaytmKaro. Paytm. November 13, 2014. 
  7. ^ "Paytm App Leaps on Google Play Store: Crosses 50 Million Downloads". News18. Retrieved 15 November 2016. 
  8. ^ "Thanks to demonetization, Paytm is making Rs 120 crore per day". Business Insider. Retrieved 21 November 2016. 
  9. ^ "Pay for Petrol With Paytm at Indian Oil Pumps". 8 February 2016. Retrieved 20 May 2016. 
  10. ^ "Paytm partners with PVR Cinemas". The Times of India. 21 March 2016. Retrieved 20 May 2016. 
  11. ^ "Jugnoo raises another $5 million in series-B round from Paytm". April 18, 2016 – via Economic Times. 
  12. ^ "Paytm acquires Delhi-based Shifu". January 4, 2016 – via GadgetsNow. 
  13. ^ "Paytm, India’s Largest Mobile Payments Platform, Acquires Local Services Startup for $2M". December 7, 2015 – via TechCrunch. 
  14. ^ Sharma, Samidha (13 March 2015). "Ratan Tata's fifth personal investment in the digital economy is Paytm". Times of India. Retrieved 30 March 2015. 
  15. ^ Goyal, Malini (15 March 2015). "How startups have successfully established their own rules of hiring, rewarding & retaining talent". Times of India. Retrieved 30 March 2015. 
  16. ^ Shu, Catherine (5 February 2015). "Alibaba’s Financial Affiliate Takes 25% Stake In India’s One97, Owner Of Paytm". TechCrunch. Retrieved 30 March 2015. 
  17. ^ "Paytm borrows Rs 300cr from ICICI Bank - Times of India". The Times of India. Retrieved 2017-07-17. 
  18. ^ "Paytm Raises $1.4 Billion From SoftBank in a Largest Funding Round from Single Investor". IndianWeb2. 18 May 2017. Retrieved 18 May 2017. 
  19. ^ Mundy, Simon (May 18, 2017). "India’s Paytm wins $1.4bn Softbank investment". Financial Times. United Kingdom. Retrieved March 18, 2017. 
  20. ^ Aamir, Mohamed (14 September 2015). "Paytm plans to start India’s first payments bank". Economic Times. 
  21. ^ Krishna, KP (1 September 2017). "Paytm Payments Bank now open for everyone on Android and iOS app". India Instant. 
  22. ^ Malik, Yuvraj (16 March 2017). "Paytm starts global expansion, launches app in Canada". Retrieved 16 March 2017. 
  23. ^ Choudhury, Karan (17 March 2017). "Paytm goes global, enters Canada with an App for bill payments". Business Standard India. Retrieved 16 March 2017. 
  24. ^ "Paytm to start payments bank operations from May 23". Hindustan Times. 17 May 2017. Retrieved 16 September 2017. 
  25. ^ "Paytm in talks to pump in $30 million in". The Economic Times. India. May 8, 2017. Retrieved August 5, 2017. 
  26. ^ BW Online Bureau (July 13, 2017). "Paytm Acquires Majority Stake in". BW Disrupt. Retrieved August 5, 2017. 
  27. ^ Choudhury, Karan (June 26, 2017). "Paytm Mall digitizing over 1,000 vehicle dealership catalogues". Business Standard. New Delhi, India. Retrieved August 5, 2017. 
  28. ^ Rai, Saritha (June 21, 2017). "Paytm said to seek license to offer money market fund". The Economic Times. India. Retrieved August 5, 2017. 
  29. ^ "PayU India, Paytm get in-principle approvals for consumer bill payment services". Economic Times. 16 May 2016. Retrieved 21 May 2016. 
  30. ^ "M-wallets may make hard currency history". The Hindu. 2 May 2016. Retrieved 21 May 2016. 

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