Paytm – The Rising Digital India
After demonetization in India, one of the most preferred methods for online shopping and transactions is undoubtedly Paytm. Unlike its earlier features that were restricted to DTH Recharge, mobile recharge, and utility bills, the scope and utilities of this e-commerce platform have diversified to a great extent. With the introduction of m-commerce along with e-retail outlet, not only transfer the amount directly from their bank account to the receivers Paytm wallet or Paytm bankdoes the users are allowed to pay off their utility bills for water and electricity yet they could account, recharge their metro cards, book tickets of flight, bus, train, reserve their accommodation, and more.
This latest Paytm success story has what helped the traders to expand their e-commerce market and connect with a large number of customer base by listing their articles on the platform. Let’s have a glimpse over the details of this amazing Indian E-commerce website:
About
Paytm was introduced in Indian e-commerce markets in the year 2010 by Vijay Shekhar Sharma when its uses were confined to the payment of utility bills and recharge. However, in the recent times, users are entitled to make every sort of monetary transaction on just a click of a button. The e-commerce website has now reached 8 years of operation and has induced more than 250 million people till date.
Its main source of generating income is the commission it charges on every utility bill payment, recharges, and on every monetary transaction processed from Paytm wallets to a bank account, interest from the Escrow account, and the promotion-based advertisement posted on the website.
Revolution and development
Being endorsed by RBI, your money is safe in the Paytm wallet and is maintained under the escrow account. The major reason behind its vast popularity is its top-notch security functions as well as easy-to-use traits that help customers to make instant transactions and get quick with just a click. Coming to the security, the e-commerce website possesses an SSL certificate that keeps all the information and confidential data of the users secured.
Its major success story is that the website is capable enough to maintain approximately 5000 transactions every second. You are entitled to either process the funds by putting in the mobile number of the receiver or can pat to retail shops by scanning the QR code. The Paytm wallets allow you with a choice to keep their funds in the wallet safely and pay right from their wallet when needed.
Another important thing to note is that the website is not only popular among the users located in the urban sectors. In fact, the villagers or customers residing in small towns as their only mode of online payment.
Expansion plans
As per the sources, Paytm had a total of 26% share in the e-commerce and e-payment platforms in the last year, however, the application has decided to discover the latest avenues. It is also planning to knock the Indian loan market and cater to the monetary requirements of around 500 million people. To get more detail on its latest awards, achievements, and further plans, visit Tofler.in and get all the relevant information.
