Paytm: Competitor Profile
Paytm is the leading alternative payment solution in India. Owned by One97 Communications, it initially began its operations as a prepaid mobile and direct-to-home (DTH) recharge platform in India in 2010. Four years later the company launched Paytm Wallet, which can now be used for both online and in-store payments. Funds can be loaded to the wallet via online banking, debit cards, and credit cards.
The wallet, initially used only on Paytm’s own online marketplace for e-commerce and bill payments, is now widely accepted at a number of other online merchant websites and apps. Paytm dominates the Indian mobile wallet market, accounting for an 11.7% share of the country’s total e-commerce transaction value in 2019 as per our 2019 Banking and Payments Survey. In addition to online payments, Paytm is used for day-to-day offline transactions and is accepted across all merchant types, ranging from local grocery stores and street vendors to large retail brands such as Big Bazaar, Pantaloons, and Lifestyle.
In addition to payments for purchases, the wallet can be used for P2P money transfers. In November 2017, Paytm integrated the BHIM Unified Payments Interface (UPI) into its platform, enabling users to send and receive money between two bank accounts directly from their mobile phones. In January 2017, Paytm received approval from the central bank to launch as a payments bank, offering commercial banking services such as saving accounts, debit cards, and online banking.
The report provides information and insights into Paytm including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company’s important events and milestones
– In August 2010, Paytm was launched as a mobile and DTH recharge platform by One97 Communications.
– In July 2015, Paytm introduced P2P money transfers, allowing users to transfer money to anyone using Paytm Wallet.
– In February 2020, Paytm launched All-in-One Android POS, enabling small businesses and merchants to accept payments through Paytm Wallet, UPI-based apps, debit and credit cards, and cash.
– In April 2020, Paytm launched contactless in-store ordering service, enabling users to scan a unique QR code at restaurants and place orders via the Paytm app.
Reasons to Buy
– Gain insights into Paytm’s business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Paytm: Competitor Profile