Paytm says could turn profitable in 2021 as Covid-19 earns it users

Indian fintech giant PayTM may turn profitable this year as the pandemic fuels a surge in the use of its payment platforms, the company’s chief executive and founder told the Reuters Next conference.

Speaking at a panel on how technology can help tackle financial exclusion, Vijay Shekhar Sharma said the crisis had forced more merchants to use PayTM’s platforms as businesses were forced to accept digital payments.

“We could very well break even this year, we will start making money,” he said.

“I was surprised by the opportunity of monetisation in 2020 during the pandemic, not just by our