Paytm Falls 27% On The First Trading Day After India’s Largest IPO

 


Original Content- Business Upside India

Paytm is an online digital wallet provider that offers services to its customers in India. Vijay Shekhar Sharma founded it on February 8, 2010. The company has more than 150 million registered users and provides money transfers, bill payments, mobile top-up, among other things. The company has also launched Paytm Payments Bank in 2018. Paytm app is a digital wallet provider for Indian citizens, and it allows users to make all types of transactions, including money transfers and bill payments. The app was first launched in 2010 by Vijay Shekhar Sharma, and now it has more than 150 million registered users.

The growth of India’s e-commerce industry has led to the rise of start-ups like Paytm. It all started with the Indian Prime Minister Narendra Modi’s demonetization that led to a cash crunch. The Paytm app was launched ten years ago with a vision to empower people by efficiently providing financial services. The company has been growing exponentially ever since. It has achieved over 100 million offline transactions and 10 million online transactions per month in the past five years alone. The company’s growth has been steady and has been attracting a lot of users. It is now considered one of the top contenders in the world of mobile payment apps. When Paytm was launched, it was running as a loss-making company. But with 19 million transactions per day and over 50% market share in India’s mobile wallet industry, the company is now valued at $3 billion.

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