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Paytm and Digital India

Paytm and Digital India

Paytm is an Indian electronic payment and internet business organization based out of Delhi NCR, India. Propelled in August 2010, it is the shopper brand of parent One97 Communications. The name is an acronym for "Pay Through Mobile." The organization utilizes more than 13,000 representatives as of January 2017 and has 3 million disconnected shippers crosswise over India. It additionally works the Paytm payment door and the Paytm Wallet.

Among different wellsprings of subsidizing, in 2015, Paytm turned into the principal Indian organization to get financing from Chinese eCommerce organization Alibaba, after it raised over $625 million at a valuation of $1.5 billion. The Alibaba Group was the greatest partner in Paytm parent organization One97 Communications.

Paytm was established and hatched by One97 Communications Limited in 2010 as a prepaid mobile revive site. In a meeting, its originator Sharma related how he was roused amid a visit to China, when he saw vegetable merchants utilizing their mobile telephones to get payments from a few clients. This prompted him setting up Paytm wallet in 2013.

In 2013, the organization propelled Paytm Wallet, which turned into India's biggest mobile payment benefit stage with more than 150 million wallets and 75 million android based application downloads as of November 2016. The surge in use of the administration was to a great extent because of the demonetization of the 500 and 1000 rupee cash notes. After 8 November 2016, Paytm's exchanges and benefit expanded altogether.

Paytm has put $5 million in auto rickshaw aggregation and hyperlocal conveyance firm Jugnoo. It has additionally gained Delhi-based purchaser conduct forecast stage Shifu for $8 million and nearby administrations startup Near.in for $2 million.