Paytm is an Indian e-payment and e-commerce system launched in August 2010 as a consumer brand of parent company One97 Communications. Paytm stands for ‘Payment through mobile’ and operate as both payment gateway and the wallet. Paytm developed through funds received from different stakeholders including Alibaba the biggest Chinese e- commerce company.
Later SoftBank a Japanese multinational telecommunications corporation known for their operations in e-commerce and internet, invested their single biggest investment in Indian ecosystem. Paytm emphasis on cashless economy and acquired license from the Reserve bank of India In 2015. At that time paytm offers only debit cards, online banking, saving accounts, transfers etc. Later services of the banks are available to everyone through Paytm website, Android and iOS app. Paytm mall service blends the concept of mall and bazar together to enhance the Indian online marketplace business.
Moreover paytm enables integrated bill payment system enhancing multiple payment modes for consumers. Key features: User friendly and reliable: It offers user friendly and trusted platform for money transaction. Millions of consumers and merchants all around India shows its acceptance around common people. Payment interface: Paytm offers different services through their website, mobile apps and paytm mall QR code. Various payment modes: You can make money transaction using any of the modes including credit/debit cards, UPI, internet banking, paytm wallet, EMI etc as it is integrated to paytm payment gateway. Mobile payments: You can done reliable money transaction by scanning QR code of account. Faster money settlement: Addition or subtraction of money to your account done within 24 hours of transaction. Entrusted payment interface: This app provide trusted interface for users by resisting intruders to the app. Paytm Wallet:The paytm wallet application can be used for different billing purposes including booking air-ticket and online taxis, mobile recharge, payment of DTH, broadband , electricity bills and buy movie tickets at PVR Cinemas etc. It can also be used for bill payments in petrol pumps and fuels.It allows money transfer only through mobile apps not through desktop. Paytm mall: It is an online to offline platform for money transaction.Company installed paytm mall QR codes in small local stores.You can scan paytm mall QR codes from trusted local shops using your paytm app. Browse the product and place the order.