Paytm is an Indian brand for e-commerce purpose which was founded by Vijay Shekhar Sharma in 2010. It’headquarter is in Noida, India. It is largest mobile commerce functioning platform in India. They started their business by providing services of recharging of a phone, bill payments, and selling other products too. In 2014, the company launched Paytm Wallet which is currently India’s largest service for mobile payment. They even claimed that there are 100 million wallets as well as 10 million downloads of apps. In 2015,Paytm also added booking tickets for bus travel. In recent time the brand announced their partnership with Cinepolis for booking of the movie tickets as well. Even PVR cinemas have collaborated for movie ticket bookings. The other services provided by them are taxi booking, paying bills, DTH recharge along with mobile recharge, electricity payment bill, and now one can also pay the fuel charges at Indian Oil Petrol Pump by a medium of the wallet.
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Being the largest brand in India for e-commerce the company also keeps the promise of maintaining the services and their quality, they with their services, new introductions in the association and more of the stuff keeps the customers satiated and thus there is always an increase in clientele with time. Paytm serves people in all age brackets from teens to old as it saves time, money and buyers get exclusive offers out of it. It's like one-stop shop service provider it's easy and quick app.
The full form for Paytm is–Pay through mobile. It was incubated and established by OIne97 communications. The app is available on windows, android and iOS platforms. In 2015, Ratan Tata made investments in the firm for development purposes in India, in the month of March. The company also got $575 million at nearly the same time from a Chinese e-commerce firm, Ali Baba. It even borrowed 300 crore rupees from ICICI bank to increase its functioning.
They received a green sign by RBI to start and initiate first payment bank. The bank wants to use the company’s clientele to offer various services like debit-credit cards, savings account, online banking, transfers, and many other services to enable an economy without cash. They also support as an operating unit for Bharat Bill Payment System, due to that users can pay their bills anywhere and anytime with just a few clicks.
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It has sponsorship rights with Board of Control for Cricket in India, for types of national and international bilateral series for the time period of up to 4 years. The rights included conducting branding of the series, broadcast rights, visibility at stadium etc. They also spent 50 crore rupees on Indian premier league in 2015. They also worked as an associate with Sony TV for sponsorship and were also the partner of Mumbai Indians team. The company also offers for partnership in business, sales, product designing, marketing, management, etc. The partners of the company are TATA DoCoMo, Airtel, Vodafone, BSNL, Idea, NDPL, Videocon, Uninor, TATA sky etc. brands.
