Paytm is an Indian e-commerce buying website headquartered in Noida, India, launched in 2010. Itcan be owned by One97 Communications The business started out by presenting cellular recharging, adding Invoice payment and e-commerce, with goods just like businesses such as Flipkart,Amazon.com, Snapdeal. In 2015, it added booking bus vacation.
Paytm was Started and incubated by One97 communications in 2010 for a prepaid mobile recharge Internet site. Paytm can be an acronym for "Spend By way of Cell". with Android, windows andiOS apps.
In 2014, the company launched Paytm Wallet, now India's largest mobile payment services platform with around 100 million wallets & 10 million app downloads. Paytm consumers can purchase the gasoline at Indian Oil Petrol pump by way of paytm wallet.
In March 2015, Indian industrialist Ratan Tata made personal investment decision inside the firm . Precisely the same month, the business been given a $575 million financial investment from Chinese e-commerce business Alibaba Group, just after Ant Financial Services Group, an Alibaba Team affiliate, took twenty five% stake in One97 as part of a strategic agreement.] Paytm borrowed 300cr from ICICI Bank in March 2016 as working money.
Paytm operates with the all cell operators in all states in India for prepaid cellular, DTH, and Datacard recharges and postpaid cell, landline, and Datacard Monthly bill payments. It's partnered with many countrywide financial institutions for bank card, debit card, and netbanking payments. Paytm also works with different billers for utility Invoice payments. It's the mediator concerning the third party and The shopper.
In 2015 Paytm been given a license from RBI for starting off India's very first payments lender. The financial institution intends to use the Paytm’s current user base for supplying new expert services, like debit cards, personal savings accounts, online banking and transfers, to permit a cashless economy. The payments financial institution might be a different entity during which the founder Vijay Shekhar Sharma will hold 51%, One97 Communications will keep 39% and 10% are going to be held by a subsidiary of One97 and Sharma.
Paytm retains the title sponsorship rights from Board of Control for Cricket in India (BCCI) for all international and domestic bilateral collection hosted through the BCCI to get a period of 4 several years (a total of eighty four matches) ranging from August 2015 for INR 203 crore (32 Million USD), or INR two.42 crore for every match performed in India. The legal rights contain sponsor branding of series Together with the title sponsor symbol, designation as the title sponsor from the series, visibility with the stadium, and broadcast sponsorship legal rights. This also consists of all BCCI domestic (Ranji Trophy and Duleep Trophy and so forth.) matches in India. Previously, Paytm had put in about INR fifty crore throughout 8th year of Indian Premier League. Paytm also served being an affiliate sponsor on Sony TV community (which has the telecast suitable of IPL) and was the Formal husband or wife with the IPL group Mumbai Indians.