Paytm offers an integrated mobile payment, shopping and deposit system to disrupt Banking in India

Country: India
Year: 2010Paytm

  • Paytm is India’s number one go-to solution for online mobile recharge and utility bill payment method.
  • Paytm also operates India’s largest mobile e-commerce platform.
  • Paytm’s mobile wallet allows users to make recharges, purchases and transfers with one mobile app.
  • Being granted the Payment Bank License in 2015, Paytm now offers a secure store of value.

Value Proposition & Consumer Benefits

  • Paytm allows users to easily recharge their DTH (Direct-to-Home) tv service and prepaid mobile plans, and to pay their utility bills via the mobile app, SMS, or the web.
  • Upon recharge, users are offered cash back and discounts on Paytm’s e-commerce platform.
  • Paytm’s digital wallet integrated with UBER in 2014 to allow users to make automatic debit payments for UBER rides, which was not possible before due to restrictions from the Reserve Bank of India (RBI) on auto-debits. This increased Paytm wallet’s user base from 10 million to 100 million within 6 months.
  • Ant Financial (Alipay) invested in Paytm through taking a 25% stake in its parent company One97, strengthening Paytm’s bargain for official approval from the RBI.
  • Users without bank accounts now have the ability to pay their bills, transfer money, and securely store their money through Paytm, after it received the Payment Bank License from the RBI in 2015.

How It Works

  • Paytm Wallet is just like ready to use cash. Users can simply register online and start using it for recharges, bill payments, bus tickets, mobile shopping, and third party transfers.

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