Paytm (short for “Pay Through Mobile”) is one of India’s leading digital payment and financial services platforms. It was founded in 2010 by Vijay Shekhar Sharma and is owned by One97 Communications. Paytm offers a wide range of services, including mobile payments, online shopping, financial products, and banking.
Key Features of Paytm:
1. UPI Payments – Send and receive money instantly via UPI.
2. Paytm Wallet – A digital wallet for quick payments at stores and online.
3. Recharge & Bill Payments – Mobile, DTH, electricity, gas, and credit card bill payments.
4. Paytm Bank – Offers savings accounts, debit cards, and fixed deposits.
5. Paytm Postpaid (Buy Now, Pay Later) – Credit facility for small transactions.
6. Loans & Insurance – Personal loans, business loans, and insurance services.
7. Stock Market & Investments – Buy stocks, mutual funds, and digital gold.
8. E-commerce (Paytm Mall) – Online shopping for electronics, fashion, and more.
9. Metro & Transport Payments – Book train, bus, flight tickets and pay for metro rides.
10. Business Solutions – QR code payments, merchant accounts, and POS systems.
How Paytm Works:
• Users link their bank accounts, UPI, or add money to the Paytm Wallet.
• Payments can be made through QR codes, mobile numbers, or direct bank transfers.
• Merchants use Paytm for Business to accept payments.
Competitors:
Paytm competes with Google Pay, PhonePe, Amazon Pay, and BharatPe in India’s digital payments space.