It’s all about Paytm Karo!!
India’s telecom infrastructure was improving in 2010 but Vijay Shekar Sharma's investors were not confident about the idea of a mobile-first consumer service that would cater to the masses. He personally put 2 million dollars and finally launched the brand. The rest, as we can see is history.
Paytm is an Indian e-commerce website located in Noida, India. It was founded in 2010 with an initial investment of $2 million by Vijay Shekar Sharma as a prepaid mobile recharge website. Paytm users are benefitted by providing mobile recharges, event bookings, utility bill payments as well as in-store payments such as grocery stores, fruits and vegetable shops, restaurants, pharmacies, tolls and educational institutions with the Paytm QR code.
In 2013 it added data cards, Post-paid mobile, and landline bill payments.
The Company launched the Paytm wallet in January 2014, Indian railways and uber added it as a payment option.
In 2015 it unveiled more use cases like metro recharges, water, electricity and gas bill payments. India’s leading businessman of Tata Motors, Ratan Tata has also invested in the company.
The journey of Paytm took a great turning point in the year 2016 with demonetization. Post Narendra Modi’s announcement on banning Rs. 500 and Rs. 1000 notes, mobile wallets became the alternate source of money. It also launched movies, events, and amusement park ticketing along with flight bookings. Paytm app downloads grew by 200%.
In 2017 Paytm became India’s first payment app to cross over 100 million app downloads, it also launched Paytm payments bank.
By March 2018 it launched the ‘’Paytm for Business’’ app and led it’s merchant base to grow to more than 7 million.
Paytm is growing very faster and they are over 20 million registered users as per their present records. Their website and mobile app have been modified into a full meal e-commerce app offering benefits in various fields from electronics, sports & health, mobile phones, home & kitchen, books, baby and toys, and many more.
In 2014: Paytm was the silver winner at the MMA Smarties in the mCommerce category and gold winner in the Mobile App category. It was also the winner of The Indian Express IT Award in Mobility Solutions 2014.
In 2015: Paytm won the Frost & Sullivan India ICT Award for Mobile Commerce Company of the Year in the B2C segment. It also won NDTV Cisco Digitizing India Awards for Disruptive Digital Innovator and was awarded the Best Digital Wallet Award at IAMAI' India Digital Awards in Delhi on 15th Jan 2015.
In 2016: Paytm wins Outstanding Start-up of the Year Award at Forbes Leadership Awards 2016 and also wins ET Brand Equity Most Trusted Brand of the Year 2016.
In 2017: Paytm wins Best Consumer Mobile Service award at the India Digital Summit. It also won Gold SABRE Award in Financial Professional Services at SABRE Awards held in the year 2017. Paytm won Diamond SABRE Award as well as Award in Financial Professional Services at SABRE Awards 2017.
Paytm used few growth hacks such as cash backs, online bill payments, and online media marketing and became even more successful.
Products can be copied, but brands can’t be copied. One such app is Paytm!!