Paytm is an ecommerce company based out of Noida and it is owned by One97 Communications and was established in 2010.
Image: company logo
Vijay Shekhar Sharma is the founder of the company, and it is one of the most successful online ventures in India. The firm first started its online operations by providing mobile recharging services, and later it added retail products and utility bill payments similar to Flipkart, Amazon and Snapdeal.
The company has recently ventured into bus booking and ticket booking with Cinepolis. The company boasts of having 100 million registered users with more than 60 million orders per month. The website provides mobile recharge, air and taxi booking, DTH bill and electricity bill payment. The company is actually a consumer brand of One97 Communications and has investors like Ant Financial(AliPay), Saif Partners, Silicon Valley Bank and Sapphire Partners. Ratan Tata has also made a personal investment in the group of undisclosed amount. In 2015, the group has also received the nod from the Reserve Bank of India for setting up a payments bank. This allows Paytm to offer debit cards, online banking, transfers and savings deposits to already existing customer base. Paytm also holds the title sponsorship rights for all cricket series hosted by the Board of Control for Cricket in India(BCCI) starting from August 2015 for a period of four years.
The company’s design strategy is to obsess over the small details and reactions that customers provide to Paytm in terms of the website’s usability. Their approach is to design something that they would love to use themselves. For its innovative and easy to use interface, Paytm has won several awards such as The Most Innovative Company of the Year 2014 Award and Disruptive Digital Innovator Award in 2015.