Paytm Will Invest $745 Million in Its Financial Services
Paytm, the digital payments giant is ready to bring its service to the next level with investment plans of over $745.16 Mn (INR 5,000 crore) in its central business.
In an interview with ET, Founder and CEO of Paytm, Vijay Shekhar Sharma announced that the company is targeting to double the amount of transactions it records every quarter to 2 billion by the end of 2018.
To achieve this target, Paytm will invest $745.16 Mn in payments and predominantly in the financial services. The focus on financial services is because “customer lifecycle is getting to the next level of maturity.”
“It’s a logical extension as we worked on commerce last year like travel and ticketing, where we are just a few notches below market leaders. Our obligation will always remain to increase the market size ...