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Alternative Payment Solution: Paytm

Alternative Payment Solution: Paytm

  • March 2019
  • 23 pages
  • ID: 5175904
  • Format: PDF
  • GlobalData

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Alternative Payment Solution: Paytm

Summary
Paytm is the leading alternative payment solution in India.Owned by One97 Communications, Paytm initially began its operations as an e-commerce marketplace in India in 2010.

Four years later, the company launched the Paytm Wallet, which can now be used for both online and in-store payments. Funds can be loaded onto the wallet via online banking, debit cards, and credit cards.

The wallet, initially used only on Paytm’s own online marketplace for e-commerce and bill payments, is now widely accepted at a number of other online merchant websites/apps.Paytm dominates the Indian mobile wallet market and accounted for a 6% share of the country’s total e-commerce transaction value in 2018, according to GlobalData’s 2018 Consumer Payments Insight Survey.

In addition to online payments, Paytm is used for day-to-day offline transactions and is accepted across all merchant types, ranging from local grocery stores and street vendors to large retail brands such as Big Bazaar, Pantaloons, and Lifestyle.

In addition to payments for purchases, the wallet can be used for peer-to-peer (P2P) money transfers.In November 2017, Paytm integrated the BHIM Unified Payments Interface (UPI) into its platform, enabling users to send and receive money between two bank accounts directly from their mobile phones.

In January 2017, Paytm received approval from the central bank to launch as a payments bank, offering commercial banking services such as saving accounts, debit cards, and online banking.

The report provides information and insights into alternative payment solution Paytm, including -
- Detailed insight into its business and geographical presence
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company’s important events and milestones.

Scope
- In August 2010, Paytm was launched as online marketplace by One97 Communications.
- In July 2015, Paytm introduced P2P money transfers, allowing users to transfer money to anyone using their Paytm Wallet.
- In January 2017, Paytm received approval from the central bank to launch as a payments bank.
- In December 2017, Paytm introduced a single Paytm QR code for merchants to accept payments via Paytm, UPI, or payment card directly into their bank account for no charge.

Reasons to buy
- Gain insights into Paytm’s business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

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