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Paytm swears by India digital play, lines up Rs 20,000 crore

Founder Vijay Shekhar Sharma said its platform processes about 250 crore transactions annually worth of Rs 80,000 crore

Press Trust of India  |  New Delhi 

Paytm founder Vijay Shekhar Sharma
Paytm founder Vijay Shekhar Sharma

Paytm, which has high-profile investors like SoftBank and Alibaba, has drawn up a massive investment plan of Rs 20,000 crore as the group expands its play into the payments, financial services and e-commerce space in the country.

"In the last 2 years and the next three years, we would have invested Rs 18,000-20,000 crore. I don't want to talk about profitability right now because we are still in an investment phase," founder and CEO told reporters here.


He was speaking on the sidelines of the official launch of Payments operations.

Paytm, which offers a mobile wallet, recharge, bill payment services, e-commerce (Mall) and ticketing services, saw a massive growth in its business after the government's drive in November last year. has 28 crore registered users, of which 18 million use wallet service.

Sharma said its platform processes about 250 crore transactions annually worth of Rs 80,000 crore.

"We expect this to grow to Rs 1 lakh crore by the end of the fiscal. The number of merchants on our platform will also touch 60 lakh in a few months," he added.

The company, Sharma said, will invest Rs 5,000 crore over the next two years in its financial and payments services and Rs 1,700 crore have already been pumped in this year.

"is a contribution positive business. We are not profitable yet because we are investing in marketing, cloud and customer acquisition," he said.

He added that for the Payments operations, the aim is to break even in the next two years.

First Published: Tue, November 28 2017. 20:55 IST
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