India’s largest fintech player is not growing as it used to.
Paytm has 25 crore users of mobile wallets. It also has a base of 12 million merchants. Paytm clocks around 20 crore transactions on…
India’s largest fintech player is not growing as it used to. It’s wallet growth has plateaued. Its offline to online offering Paytm Mall had to downsize. World’s one of the most risk averse investors, Berkshire Hathway and one of the biggest risk takers, Masa have invested in it.
Paytm has 25 crore users of mobile wallets. It also has a base of 12 million merchants. Paytm clocks around 20 crore transactions on wallets and another 15 crore transactions on UPI. It had been focussing on UPI to increase the users, but it hasn’t grown. It has also shifted from warehouse model to shopkeeper model. It is re-adjusting. It has entered lending through Paytm Post Paid.
CEO Vijay Shekhar Sharma says, “Paytm is eyeing multiple ways to expand products and start making money off users including tapping gaming, content, commerce and wealth management to shore up revenue and retain customers.”
Paytm’s next phase of growth will come from building products on the top of its user base, such as travel booking and entertainment booking. But, other players are challenging Paytm, such as Google’s Reserve With Google , and Amazon’s Amazon Pay.