Paytm is the biggest E-commerce company in India which specializes in the digital transactions system. Paytm is trusted and used by millions of Indians for shopping, transferring cash, booking tickets, and paying day-to-day bills.
How did Paytm get here? The journey was not an easy one!
Here are the top 10 interesting facts about Paytm.
Founding of Paytm
The idea of Paytm
Paytm is an acronym for Payment Through Mobile
One97 Communications is the parent company of Paytm
PayPal filed a case against Paytm in 2016
Paytm is available in 11 Indian languages
Paytm wallet application counts to 100 Million downloads
Jack Ma Purchased Stakes in Paytm
Paytm contributed to PM cares fund during COVID-19 pandemic
Ratan Tata has invested in Paytm.
Paytm Mall
FAQs
Founding of Paytm
Paytm was founded by Vijay Shekhar Sharma with an initial investment of $2 million in 2010. It has its headquarters at Noida.
The idea of Paytm
Vijay Shekhar got the idea to build Paytm during his visit to China when he saw vegetable vendors using their cell phones to accept payments from some buyers.
This prompted him to set up a Paytm wallet in 2013.
Paytm is the most secure application. Paytm gives App secret word to your Paytm wallet and uses QR codes to complete transactions.
Paytm is an acronym for "Payment Through Mobile"
Paytm attracted a large crowd for the ease of online recharges, wallets, and shopping experiences. It also offered cashback and free movie tickets to its users.
One97 Communications is the parent company of Paytm
In 2005, Vijay Shekhar Sharma began One97 Communications that offered portable content like news, cricket scores, ringtones, jokes, and test results.
One97 is the parent organization of Paytm, which was launched in 2010.
PayPal filed a case against Paytm in 2016
PayPal filed a case against Paytm in 2016 on the grounds of using similar blends of colors in its logo. Paypal claimed Paytm had stolen from its logo and created a logo that was "blatantly and strikingly similar" to its own logo.
The two-toned blue color scheme was a resemblance to the Paypal logo.
Paypal objected that Paytm wanted to gain an advantage over its opponent and ruin its reputation!
Shubham Kumar
Paytm is available in 11 Indian languages
The default language selected for Paytm is english. However, Paytm is avaliable in 10 different Indian languages. Some of these include Hindi, Tamil, Telugu, Gujarati, Marathi, Bengali, Kannada, Malayalam, Oriya, and Punjabi.
Paytm has reached almost 88% of Indian villages and most of the users are based in Tier 2 and Tier 3 cities.
Paytm says that many Indians have still no access no internet even today and hence, they are taking a step towards "Digital India"
Paytm wallet application counts to 100 Million downloads
Paytm wallets applications has 100 Million downloads on Google play store. There are over 350 million Paytm users.
Jack Ma Purchased Stakes in Paytm
In 2015, Chinese money manager Jack Ma, proprietor of Alibaba Group, purchased a $500 million stake in Paytm. Jack Ma is assessed to hold 30 to 40 percent of Paytm. Alibaba holds a share of 25% of Paytm. Alibaba presently gives help to Paytm to further develop extortion detection and satisfaction systems also.
Paytm contributed to PM cares fund during COVID-19 pandemic
Paytm has great contribution during Covid 19 pandemic. It has contributed to PM CARES relief fund. Each Rs 10 received via a single user was donated to the PM cares fund via the Paytm app. In 10 days, Paytm had collected Rs 100 crore Via Paytm, 21000 oxygen cans were shipped to patients in need, and oxygen plants were donated to 13 of the worst-hit cities in India.
Ratan Tata has invested in Paytm
Paytm belongs to one of the few companies which have received personal investment by renowned Indian tycoon Ratan Tata.
$100-billion worth Tata Group CEO has invested in Paytm, which is looking to directly compete with online retailers like Flipkart, Amazon, and Snapdeal.
This will help in boosting the country’s digital economy.
Paytm Mall
Paytm launched Paytm Mall in 2017 which permits customers to shop from 1.4 lakh enlisted sellers. It is a BTC model inspired by China's TMall.
Paytm Mall has set up 17 content communities across India and collaborated with in excess of 40 messengers.
Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018.
Paytm Mall suffered a loss of around ₹1,800 crores and its market share dropped from 5.6% to 3%.
FAQs
When was Paytm founded?
Paytm was founded by Vijay Shekar Sharma in 2009.
Who is the owner of Paytm?
Paytm parent organisation One97 Communications owns the company.
Is Paytm owned by Tata?
No. Ratan Tata has invested in Paytm in March 2015. He picked up a stake in Paytm parent company, One97 Communications. He also plays a role of an advisor for the company.
Author: Niharika Kalyankar
Source : https://startuptalky.com/paytm-interesting-facts/
Date : 2021-08-15T05:25:00.000Z