Why is Paytm India's Top Startup?

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Paytm was launched in 2010 as an Indian start up. The original service of Paytm was to help users to make their bill payments and recharge mobile phones, while earning reward point.

In this post we will see the reason why Paytm is considerd the top indian startup and get more details about this startup.

What is Paytm?
Paytm was founded by Vijay Shekhar Sharma, in Noida with an initial investment of $2 million. Paytm's parent company One97 Communications which is also owned by Vijay Shekhar Sharma was started in 2000 and operates into multiple fields.

Who owns Paytm?
Paytm has been backed by Jack Maa's Alibaba and Ratan Tata of the infamous TATA Group. Although partially owned by Chinese company Alibaba, Paytm remains an Indian company with majority of stake holders being Indians (primarily Ratan Tata and Vijay Shekhar Sharma himself. 

What got Paytm the required boost?
Paytm added a lot of features in 2013 and moved from a mobile and DTH recharge service to an online payment platform including mobile recharges, utility bill payment, wallet payment and wallet to wallet money transfer app.

This got a huge boost when Indian Prime Minister Narendra Modi demonetized the Rs1000 notes, wallet to wallet money transfers became a big hit that pushed the company's growth forward.

Paytm and competition
Today, Paytm is considered one of the top Indian startup. Although it faces major competition from Google Pay and other companies that provide similar services, Paytm remains one of the major player in wallet to wallet payments.

Paytm is growing faster than ever and has 20 million registered users. The website has been converted to a e-commerce market place with Paytm Mall. There have been over 7 million app download on various platforms.

Jugaad Innovations at Paytm
Paytm follows most of the principles of Jugaad that has proved to be part of the Paytm's success.
Paytm has identified the gap in the market and provided suitable solutions to the users. 

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