Paytm success story and its IPO
'Paytm Karo! Did you also read it in that tune? Well, that's how we all know Paytm. Paytm has brought a revolutionary change in the retail industry. Although, on the one hand, the complete shift in payment methodology has been appreciated, some people were reluctant to accept the ongoing changes whole-heartedly. But, on the other hand, starting from enabling payments for little things like DTH, shopping and mobile recharge, with the due course of time, it has brought almost everything under its umbrella.
The founder of Paytm is Mr Vijay Shekhar Sharma. Paytm has been a prodigy in the E-Commerce sector of India. It was launched in August 2010. Paytm has been able to attract over 300 Million people to it in just 8 years. Paytm is RBI verified E-wallet, which gets stored in the Escrow bank account with Nationalized bank. Moreover, it uses SSL 128 bit encryption technology. This ensures that the user's online information is safe, thus providing more excellent protection to users.
This primarily kick-started with the announcement of Demonetization by the government of India. There was a major downfall in the availability of cash, and hence people looked out for a solution. Majorly, the one solution that they came across was Paytm. It was well developed by then and gained trust among people. Even in the small towns and villages, people with little knowledge also went for digital payments as it was made very easy through Paytm.
Expanding its business to giving loans to around 200 million people, Paytm launched its bank in 2017. There are so many awards that Paytm won for its brilliant start in digital payments and the ECommerce business. The Diamond SABREE award, the silver SABREE award, and the best consumer mobile service award are there, to name a few.
Recently Paytm has announced that it will bring Initial Public Offer(IPO) later this year. The company is set to raise around $3 billion via an initial public offering in India. Bloomberg reported that the Paytm IPO will be one of the biggest IPO in India. The Paytm IPO might surpass Coal India's 15000 crore IPO that was launched in 2010. Coal India IPO is still the biggest in Indian history.
Paytm has always been determined to improve its products and services and improve customer experience. The team tirelessly works to improve each feature, no matter how small it may be. The Paytm team always endeavours to add small and incremental yet effective features that have ensured that it stays as the preferred digital payment platform among users.