Overview
One97 Communications Limited is an Indian multinational technology company headquartered in Noida, Uttar Pradesh. It is the parent company of Paytm, one of India's largest digital payments and financial services brands. The company was founded by Vijay Shekhar Sharma and operates across mobile payments, merchant services, financial services, and consumer commerce.
Key facts
| Name | One97 Communications Limited |
|---|---|
| Industry | Financial technology, digital payments |
| Founder | Vijay Shekhar Sharma |
| Headquarters | Noida, Uttar Pradesh, India |
| Flagship brand | Paytm |
| Country | India |
| Stock exchanges | BSE, NSE |
Background
One97 Communications was established by Vijay Shekhar Sharma as a value-added services provider for mobile operators, offering content such as ringtones, news alerts, and other telecom-linked services. Over time, the company shifted its focus towards mobile recharges, bill payments, and eventually full-scale digital payments, building the Paytm platform as its principal product.
History and timeline
- 2000: One97 Communications is founded by Vijay Shekhar Sharma, initially providing mobile value-added services.
- 2010: Launch of Paytm as a prepaid mobile and DTH recharge platform.
- 2014: Introduction of the Paytm Wallet, expanding into mobile commerce and online payments.
- 2015: Investment from Ant Group (then Ant Financial), an affiliate of China's Alibaba Group, becomes a notable backer of the company.
- 2017: Paytm Payments Bank commences operations as a separate entity, with One97 Communications and Vijay Shekhar Sharma as principal stakeholders.
- 2021: One97 Communications lists on the Indian stock exchanges (BSE and NSE) following an initial public offering, then among the largest IPOs in Indian market history.
- 2024: The Reserve Bank of India places restrictions on Paytm Payments Bank's operations, prompting One97 Communications to restructure its payments partnerships with other banks.
Business segments
- Payment services: Consumer payments via the Paytm app, including UPI, wallet, and card-based transactions, along with merchant payment acceptance through QR codes, Soundbox devices, and point-of-sale terminals.
- Financial services: Distribution of loans, insurance, and wealth products in partnership with regulated financial institutions.
- Commerce and cloud: Ticketing for travel, entertainment, and events, along with marketing and advertising services for merchants.
Leadership
Vijay Shekhar Sharma serves as the founder, chairman, and managing director of One97 Communications. The company's board includes independent directors and representatives drawn from its institutional shareholder base.
Significance
One97 Communications has played a prominent role in the expansion of digital payments in India, particularly after the demonetisation exercise of November 2016, when cashless transactions saw rapid adoption. Through Paytm, the company helped popularise QR-code based payments among small merchants and contributed to the broader fintech ecosystem alongside the Unified Payments Interface (UPI) developed by the National Payments Corporation of India.
Related topics
- Paytm
- Vijay Shekhar Sharma
- Paytm Payments Bank
- Unified Payments Interface
- National Payments Corporation of India
- Reserve Bank of India
- Fintech in India
- Demonetisation in India
References
- Wikidata: Q97486409
- Bombay Stock Exchange and National Stock Exchange of India listing disclosures.
- Reserve Bank of India regulatory notifications relating to Paytm Payments Bank.