Right now my favorite pass time is going and asking and seeing whether shop vendors have paytm or not. Last week when we went for shopping, all our payment were through the one and only “paytm wallet”.
So a brief intro. of this game changer is that it was formed by Vijay shekhar sharma (Vjs), alumnus of DTU .He joined college at the age of 15 .Hailing from Aligarh the biggest drawback he faced was adapting to the alien language English. Always being a kitabi keeda (in his own words) he ended up making a company in 1997 (last years of college which he later sold).Being a true patriot he wanted to do something for India and didn’t choose a job in the land of immigrants (U.S.A)
So basically Paytm’s parent company is One97 Communications in which Jack Ma (founder of Alibaba) has 40% share, the largest shareholding and Vjs has 21%. Their business is divided into e-commerce, online recharge and payment wallet (the leader of the three).
Just a few days back they got RBI’s final approval to start with the operations of India first payment bank (which would start in a month). In which Vjs would have 51% share (making it purely Indian).
Paytm is the story of struggle to make accessibility of money easier and a pathway towards a cashless society. What was beautiful was that the day after the announcement of demonitisation Paytm had a two page advertisement in the newspaper (for which they had to make the printing press wait till 12:30 at night) .It tells there will always be people out there to challenge the status quo (SBI being so scared by it that its persuading its customers to download SBI-buddy)
Paytm got what we call in the business world “THE FIRST MOVER ADVANTAGE”
♦A payments bank in simple words, can carry out most banking operations but can’t advance loans or issue credit cards. It can accept demand deposits (up to Rs 1 lakh), offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third party fund transfers. ♦
4 thoughts on “PAYTM KARO! PAY THROUGH MOBILE!”
U always come and leave my sleepy eyes open this is a beautiful blog to aware people of. Cashless society demonitisation was a big struggle for every indian. Thaks a lot somya for this awareness i have seen everyone using paytm nowadays. But not all indians u gave an amazing awareness about this so now i want every person to read this and be awared about paytm and use it .going too deep ♡sorry lets be happy and think about happy things this comment went too long no its just a short para to give u inspiration ♥♥♥
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nikki dude…. ❤ ❤ u give these really beautiful comments making me wait that what's nikki going to say. hope what I right is understandable. Looks like you have become a big girl 🙂
What’s up, I log on to your new stuff daily. Your writing style is witty, keep doing what you’re doing!
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Hey Kiersten. Thanku so much for such a lovely comment. Means a lot.! Hope I can keep u hooked up with my writing 🙂