07 October 2024
Paytm's immediate priority is to focus on investing in its consumer payments business to recover the lost user base due to regulatory actions by the RBI. The RBI had restricted Paytm Payments Bank from accepting deposits or facilitating credit transactions, which affected its consumer base. In August, Paytm sold its ticketing business to Zomato to concentrate on its core operations - payments and financial services distribution. Paytm's CEO Vijay Shekhar Sharma stated that consumer payments, including UPI payments, are their primary focus, aiming to reinvest in this area. While the consumer side saw a decline in monthly transactional users, the merchant side experienced incremental growth. Additionally, Paytm is exploring the Third-Party Application Provider (TPAP) business model to offer digital payment services to users through various platforms and applications.
Paytm's immediate priority is to focus on investing in its consumer payments business to recover the lost user base due to regulatory actions by the RBI. The RBI had restricted Paytm Payments Bank from accepting deposits or facilitating credit transactions, which affected its consumer base. In August, Paytm sold its ticketing business to Zomato to concentrate on its core operations - payments and financial services distribution. Paytm's CEO Vijay Shekhar Sharma stated that consumer payments, including UPI payments, are their primary focus, aiming to reinvest in this area. While the consumer side saw a decline in monthly transactional users, the merchant side experienced incremental growth. Additionally, Paytm is exploring the Third-Party Application Provider (TPAP) business model to offer digital payment services to users through various platforms and applications.
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