Paytm is an Indian e-commerce shopping website launched in 2010, owned by One97 Communications which initially focused on Mobile and DTH Recharging. The company is headquartered in Noida, India. It gradually provided recharging and bill payment of various portals including electricity bills, gas bills, as well as telephone bills. Paytm entered India’s e-commerce market in 2014, providing facilities and products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it added booking bus travel.
In 2014, the company launched Paytm Wallet, India’s largest mobile payment service platform with over 40 million wallets. The service became the preferred mode of payment across leading consumer internet companies such as Uber, BookMyShow, and MakeMyTrip Morninginfotech.
Paytm got a major boost in e-commerce when Indian industrialist Ratan Tata made personal investment in the firm in March 2015. In the same month, the company received a $575 million investment from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.
Paytm works with the all mobile operators in all states in India for prepaid mobile, DTH, and Datacard recharges and postpaid mobile, landline, and Datacard bill payments. It has partnered with multiple national banks for credit card, debit card, and netbanking payments. Paytm also works with various billers for utility bill payments.