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'''Paytm''' is an Indian [[e-commerce]] shopping website headquartered in [[Noida]], [[India]], launched in 2010. It is owned by One97 Communications The firm started by offering mobile recharging, adding bill payment and [[e-commerce in India|e-commerce]], with products similar to businesses such as [[Flipkart]], [[Amazon.com]], [[Snapdeal]]. In 2015, it added booking bus travel.<ref>{{cite news | url= http://www.livemint.com/Companies/fIV2YxS9DAyBzd5ZXNWi1H/Alibaba-diverges-with-SoftBank-with-Paytm-pick.html | title=Alibaba diverges with SoftBank with Paytm pick | work=Live Mint | date=14 January 2015 | accessdate=30 March 2015 | author= Shrutika Verma}}</ref> Paytm also launched movie ticket booking in early 2016.
'''Paytm''' is an Indian [[e-commerce]] website headquartered in [[Noida]], [[India]]. It was launched in 2010 and is owned by One97 Communications. The firm started by offering mobile recharging, adding bill payment and [[e-commerce in India|e-commerce]], with products similar to businesses such as [[Flipkart]], [[Amazon.com]], [[Snapdeal]]. In 2015, it further added booking bus travel.<ref>{{cite news | url= http://www.livemint.com/Companies/fIV2YxS9DAyBzd5ZXNWi1H/Alibaba-diverges-with-SoftBank-with-Paytm-pick.html | title=Alibaba diverges with SoftBank with Paytm pick | work=Live Mint | date=14 January 2015 | accessdate=30 March 2015 | author= Shrutika Verma}}</ref> Paytm also launched movie ticket booking by partnering with [[Cinépolis]] in the year 2016. <ref> {{cite news | url=http://www.business-standard.com/article/news-ani/paytm-cinepolis-tie-up-to-expand-consumer-entertainment-avenues-116051101032_1.html | title=Paytm, Cinepolis tie up to expand consumer entertainment avenues | publisher=[[Business Standard]] | date=11 May 2016 | accessdate=22 May 2016}} </ref>




==History==
==History==
Paytm was founded and incubated by One97 communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for "Pay Through Mobile".<ref name=uber>{{cite news|title=Paytm, always bringing the Uber experience to you|url=https://paytm.com/blog/uber/|work=#PaytmKaro|publisher=Paytm|date=November 13, 2014}}</ref> with [[Android (operating system)|Android]], [[windows]] and [[iOS]] apps.
Paytm was founded and incubated by One97 communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for "Pay Through Mobile".<ref name=uber>{{cite news|title=Paytm, always bringing the Uber experience to you|url=https://paytm.com/blog/uber/|work=#PaytmKaro|publisher=Paytm|date=November 13, 2014}}</ref> with [[Android (operating system)|Android]], [[windows]] and [[iOS]] apps.


⚫
In 2014, the company launched Paytm Wallet, now India's largest [[mobile payment]] service platform with over 100 million wallets & 10 million app downloads.<ref>{{cite news | url=http://techcrunch.com/2015/03/13/indias-top-mobile-wallet-app-adds-support-for-payments-to-bank-accounts/ | title=India’s Top Mobile Wallet App Adds Support For Payments To Bank Accounts | work=TechCrunch | date=13 March 2015 | accessdate=30 March 2015 | author= Jon Russell}}</ref> According to data shared by [[App Annie]], a mobile-tracking website, [[Amazon]] has taken the second position from Paytm in terms of mobile downloads.<ref> {{cite news | url=http://www.financialexpress.com/article/industry/companies/amazon-pips-paytm-to-no-2-slot-in-app-downloads/258222/ | title=Amazon pips Paytm to No. 2 slot in app downloads | publisher=[[The Financial Express]] | date=18 May 2016 | accessdate=22 May 2016}} </ref>
==Services==

⚫
In 2014, the company launched Paytm Wallet, now India's largest mobile payment service platform with over 100 million wallets & 10 million app downloads.<ref>{{cite news | url=http://techcrunch.com/2015/03/13/indias-top-mobile-wallet-app-adds-support-for-payments-to-bank-accounts/ | title=India’s Top Mobile Wallet App Adds Support For Payments To Bank Accounts | work=TechCrunch | date=13 March 2015 | accessdate=30 March 2015 | author= Jon Russell}}</ref> Paytm users can pay for the fuel at Indian Oil Petrol pump through Paytm wallet.<ref>http://gadgets.ndtv.com/apps/news/pay-for-petrol-with-paytm-at-indian-oil-pumps-799608</ref> Users can also book movie tickets at Paytm and has partnered with PVR.Paytm has successfully tied up with Cinepolis as well to sell movie tickets on its platform.<ref>{{Cite web|url=http://www.medianama.com/2016/03/223-paytm-inox-pvr-movie-booking/|title=Paytm ties up with INOX & PVR to facilitate movie ticket booking|website=MediaNama|access-date=2016-04-06}}</ref>


==Funding==
==Funding==

In March 2015, Indian industrialist [[Ratan Tata]] made personal investment in the firm .<ref>{{cite news | url=http://timesofindia.indiatimes.com/business/india-business/Ratan-Tatas-fifth-personal-investment-in-the-digital-economy-is-Paytm/articleshow/46548625.cms | title=Ratan Tata's fifth personal investment in the digital economy is Paytm | work =Times of India | date=13 March 2015 | accessdate=30 March 2015 | author= Samidha Sharma}}</ref> The same month, the company received a $575 million investment from Chinese e-commerce company [[Alibaba Group]],<ref>{{cite news | url=http://articles.economictimes.indiatimes.com/2015-03-15/news/60137567_1_talent-management-management-lessons-paytm | title=How startups have successfully established their own rules of hiring, rewarding & retaining talent | work= Times of India | date=15 March 2015 | accessdate=30 March 2015 | author= Malini Goyal}}</ref> after [[Ant Financial Services Group]], an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.<ref>{{cite news | url=http://techcrunch.com/2015/02/05/antfinancial-one97 | title=Alibaba’s Financial Affiliate Takes 25% Stake In India’s One97, Owner Of Paytm | work =[[TechCrunch]] | date=5 February 2015 | accessdate=30 March 2015 | author= Catherine Shu}}</ref>
In March 2015, Indian industrialist [[Ratan Tata]] made personal investment in the firm .<ref>{{cite news | url=http://timesofindia.indiatimes.com/business/india-business/Ratan-Tatas-fifth-personal-investment-in-the-digital-economy-is-Paytm/articleshow/46548625.cms | title=Ratan Tata's fifth personal investment in the digital economy is Paytm | work =Times of India | date=13 March 2015 | accessdate=30 March 2015 | author= Samidha Sharma}}</ref> The same month, the company received a $575 million investment from Chinese e-commerce company [[Alibaba Group]],<ref>{{cite news | url=http://articles.economictimes.indiatimes.com/2015-03-15/news/60137567_1_talent-management-management-lessons-paytm | title=How startups have successfully established their own rules of hiring, rewarding & retaining talent | work= Times of India | date=15 March 2015 | accessdate=30 March 2015 | author= Malini Goyal}}</ref> after [[Ant Financial Services Group]], an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.<ref>{{cite news | url=http://techcrunch.com/2015/02/05/antfinancial-one97 | title=Alibaba’s Financial Affiliate Takes 25% Stake In India’s One97, Owner Of Paytm | work =[[TechCrunch]] | date=5 February 2015 | accessdate=30 March 2015 | author= Catherine Shu}}</ref>
Paytm borrowed 300cr from [[ICICI Bank]] in March 2016 as working capital.
Paytm borrowed 300cr from [[ICICI Bank]] in March 2016 as working capital.


==Partners==
==Partners==
The application enables users to perform purchases such as air tickets, taxi booking, mobile recharge, DTH bill payment and electricity payment, among others.<ref> {{cite news | url=http://www.thehindu.com/business/Economy/mwallets-may-make-hard-currency-history/article8544351.ece | title=M-wallets may make hard currency history | publisher=[[The Hindu]] | date=2 May 2016 | accessdate=21 May 2016}} </ref> Paytm users can also pay for fuel at Indian Oil Petrol pump through the wallet.<ref> {{cite web | url=http://gadgets.ndtv.com/apps/news/pay-for-petrol-with-paytm-at-indian-oil-pumps-799608 | title=Pay for Petrol With Paytm at Indian Oil Pumps | date=8 February 2016 | accessdate=20 May 2016}} </ref> Users can also book movie tickets as the [[e-commerce]] player has partnered with [[PVR Cinemas]].<ref> {{cite news | url=http://timesofindia.indiatimes.com/business/india-business/Paytm-partners-with-PVR-Cinemas/articleshow/51497132.cms | title=Paytm partners with PVR Cinemas | publisher=[[The Times of India]] | date=21 March 2016 | accessdate=20 May 2016}} </ref>
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.{{Cn|date=April 2016}}


==Payments bank==
==Payments bank==
In 2015 Paytm received a license from [[RBI]] for starting India's first payments bank. The bank intends to use the Paytm’s existing user base for offering new services, including debit cards, savings accounts, online banking and transfers, to enable a cashless economy. The payments bank would be a separate entity in which the founder Vijay Shekhar Sharma will hold 51%, One97 Communications will hold 39% and 10% will be held by a subsidiary of One97 and Sharma.<ref>{{cite news | url=http://articles.economictimes.indiatimes.com/2015-09-14/news/66531883_1_payments-remittances-reserve-bank | title=Paytm plans to start India’s first payments bank | work = Economic Times | date=14 September 2015 | author= Mohamed Aamir}}</ref>
In 2015 Paytm received a license from [[RBI]] for starting India's first payments bank. The bank intends to use Paytm’s existing user base for offering new services, including debit cards, savings accounts, online banking and transfers, to enable a cashless economy. The payments bank would be a separate entity in which the founder Vijay Shekhar Sharma will hold 51%, One97 Communications will hold 39% and 10% will be held by a subsidiary of One97 and Sharma.<ref>{{cite news | url=http://articles.economictimes.indiatimes.com/2015-09-14/news/66531883_1_payments-remittances-reserve-bank | title=Paytm plans to start India’s first payments bank | work = Economic Times | date=14 September 2015 | author= Mohamed Aamir}}

Paytm is also approved as an operating unit for [[Bharat Bill Payment System]], as a result of which users can pay their bills anytime and anywhere.<ref> {{cite news | url=http://articles.economictimes.indiatimes.com/2016-05-16/news/73126164_1_payu-india-bharat-bill-payment-system-bbps | title=PayU India, Paytm get in-principle approvals for consumer bill payment services | publisher=[[Economic Times]] | date=16 May 2016 | accessdate=21 May 2016}} </ref>


==Sponsorship==
==Sponsorship==
Paytm holds the title sponsorship rights from [[Board of Control for Cricket in India]] (BCCI) for all international and domestic bilateral series hosted by the BCCI for a period of four years (a total of 84 matches) starting from August 2015 for [[Indian rupee|INR]] 203 crore (32 Million [[USD]]), or INR 2.42 crore per match played in [[India]]. The rights include sponsor branding of series with the title sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast sponsorship rights.<ref>{{cite news | url=http://www.business-standard.com/article/companies/paytm-bags-4-yr-bcci-title-sponsorship-for-rs-203-cr-115073001446_1.html | title=Paytm bags 4-yr BCCI title sponsorship for Rs 203 cr | work =[[Business Standard]] | date=31 July 2015 | accessdate=27 August 2015 | author= Urvi Malvania}}</ref> This also includes all BCCI domestic ([[Ranji Trophy]] and [[Duleep Trophy]] etc.) matches in India.<ref>http://indianexpress.com/article/sports/cricket/bcci-awards-title-sponsorship-rights-to-paytm/</ref> Previously, Paytm had spent about [[Indian rupee|INR]] 50 crore during 8th season of [[Indian Premier League]]. Paytm also served as an associate sponsor on [[Sony Entertainment Television|Sony TV]] network (which has the telecast right of IPL) and was the official partner of the IPL team [[Mumbai Indians]].
Paytm holds the title sponsorship rights from [[Board of Control for Cricket in India]] (BCCI) for all international and domestic bilateral series hosted by the BCCI for a period of four years (a total of 84 matches) starting from August 2015 for [[Indian rupee|INR]] 203 crore (32 Million [[USD]]), or INR 2.42 crore per match played in [[India]]. The rights include sponsor branding of series with the title sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast sponsorship rights.<ref>{{cite news | url=http://www.business-standard.com/article/companies/paytm-bags-4-yr-bcci-title-sponsorship-for-rs-203-cr-115073001446_1.html | title=Paytm bags 4-yr BCCI title sponsorship for Rs 203 cr | work =[[Business Standard]] | date=31 July 2015 | accessdate=27 August 2015 | author= Urvi Malvania}}</ref> This also includes all BCCI domestic ([[Ranji Trophy]] and [[Duleep Trophy]] etc.) matches in India.<ref> {{cite news | url=http://indianexpress.com/article/sports/cricket/bcci-awards-title-sponsorship-rights-to-paytm/ | title=Paytm becomes title sponsor of India’s home matches till 2019 | publisher=[[The Indian Express]] | date=30 July 2015 | accessdate=21 May 2016}} </ref> Previously, Paytm had spent about [[Indian rupee|INR]] 50 crore during 8th season of [[Indian Premier League]]. Paytm also served as an associate sponsor on [[Sony Entertainment Television|Sony TV]] network (which has the telecast right of IPL) and was the official partner of the IPL team [[Mumbai Indians]].


==References==
==References==
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[[Category:Internet properties established in 2010]]
[[Category:Internet properties established in 2010]]
[[Category:Privately held companies of India]]
[[Category:Privately held companies of India]]
[[Category:Payment systems]]
[[Category:Ecommerce]]
[[Category:Mobile payments]]
[[Category:Companies established in 2010]]
[[Category:Companies based in Noida]]

Revision as of 19:33, 22 May 2016

Paytm
Company typePrivate
IndustryInternet
Founded2010 (2010)
FounderVijay Shekhar Sharma
Headquarters
Noida
,
India
Area served
India
ServicesE-commerce
(Online shopping)
ParentOne97[1]
Websitepaytm.com

Paytm is an Indian e-commerce website headquartered in Noida, India. It was launched in 2010 and is owned by One97 Communications. The firm started by offering mobile recharging, adding bill payment and e-commerce, with products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it further added booking bus travel.[2] Paytm also launched movie ticket booking by partnering with Cinépolis in the year 2016. [3]


History

Paytm was founded and incubated by One97 communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for "Pay Through Mobile".[4] with Android, windows and iOS apps.

In 2014, the company launched Paytm Wallet, now India's largest mobile payment service platform with over 100 million wallets & 10 million app downloads.[5] According to data shared by App Annie, a mobile-tracking website, Amazon has taken the second position from Paytm in terms of mobile downloads.[6]

Funding

In March 2015, Indian industrialist Ratan Tata made personal investment in the firm .[7] The same month, the company received a $575 million investment from Chinese e-commerce company Alibaba Group,[8] after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in One97 as part of a strategic agreement.[9] Paytm borrowed 300cr from ICICI Bank in March 2016 as working capital.

Partners

The application enables users to perform purchases such as air tickets, taxi booking, mobile recharge, DTH bill payment and electricity payment, among others.[10] Paytm users can also pay for fuel at Indian Oil Petrol pump through the wallet.[11] Users can also book movie tickets as the e-commerce player has partnered with PVR Cinemas.[12]

Payments bank

In 2015 Paytm received a license from RBI for starting India's first payments bank. The bank intends to use Paytm’s existing user base for offering new services, including debit cards, savings accounts, online banking and transfers, to enable a cashless economy. The payments bank would be a separate entity in which the founder Vijay Shekhar Sharma will hold 51%, One97 Communications will hold 39% and 10% will be held by a subsidiary of One97 and Sharma.Cite error: A <ref> tag is missing the closing </ref> (see the help page).

Sponsorship

Paytm holds the title sponsorship rights from Board of Control for Cricket in India (BCCI) for all international and domestic bilateral series hosted by the BCCI for a period of four years (a total of 84 matches) starting from August 2015 for INR 203 crore (32 Million USD), or INR 2.42 crore per match played in India. The rights include sponsor branding of series with the title sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast sponsorship rights.[13] This also includes all BCCI domestic (Ranji Trophy and Duleep Trophy etc.) matches in India.[14] Previously, Paytm had spent about INR 50 crore during 8th season of Indian Premier League. Paytm also served as an associate sponsor on Sony TV network (which has the telecast right of IPL) and was the official partner of the IPL team Mumbai Indians.

References

  1. ^ "Alibaba enters India's e-commerce space with 25% stake in Paytm owner One97". India Times. 6 February 2015. Retrieved 30 March 2015.
  2. ^ Shrutika Verma (14 January 2015). "Alibaba diverges with SoftBank with Paytm pick". Live Mint. Retrieved 30 March 2015.
  3. ^ "Paytm, Cinepolis tie up to expand consumer entertainment avenues". Business Standard. 11 May 2016. Retrieved 22 May 2016.
  4. ^ "Paytm, always bringing the Uber experience to you". #PaytmKaro. Paytm. 13 November 2014.
  5. ^ Jon Russell (13 March 2015). "India's Top Mobile Wallet App Adds Support For Payments To Bank Accounts". TechCrunch. Retrieved 30 March 2015.
  6. ^ "Amazon pips Paytm to No. 2 slot in app downloads". The Financial Express. 18 May 2016. Retrieved 22 May 2016.
  7. ^ Samidha Sharma (13 March 2015). "Ratan Tata's fifth personal investment in the digital economy is Paytm". Times of India. Retrieved 30 March 2015.
  8. ^ Malini Goyal (15 March 2015). "How startups have successfully established their own rules of hiring, rewarding & retaining talent". Times of India. Retrieved 30 March 2015.
  9. ^ Catherine Shu (5 February 2015). "Alibaba's Financial Affiliate Takes 25% Stake In India's One97, Owner Of Paytm". TechCrunch. Retrieved 30 March 2015.
  10. ^ "M-wallets may make hard currency history". The Hindu. 2 May 2016. Retrieved 21 May 2016.
  11. ^ "Pay for Petrol With Paytm at Indian Oil Pumps". 8 February 2016. Retrieved 20 May 2016.
  12. ^ "Paytm partners with PVR Cinemas". The Times of India. 21 March 2016. Retrieved 20 May 2016.
  13. ^ Urvi Malvania (31 July 2015). "Paytm bags 4-yr BCCI title sponsorship for Rs 203 cr". Business Standard. Retrieved 27 August 2015.
  14. ^ "Paytm becomes title sponsor of India's home matches till 2019". The Indian Express. 30 July 2015. Retrieved 21 May 2016.

Further reading

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Paytm&oldid=721574804"