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17 Facts About Paytm

1.

Paytm is an Indian digital payments and financial services company, based in Noida.

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2.

Paytm offers mobile payment services to consumers and enables merchants to receive payments through its QR code, point of sale and online payment gateway offerings.

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3.

In partnership with financial institutions, Paytm offers financial services such as microloans and buy now, pay later to its consumers and merchants.

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4.

Paytm was founded on August 2010 with an initial investment of by founder Vijay Shekhar Sharma in Noida, India.

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5.

Paytm launched BHIM UPI and became India's first payment app to cross over 10 crore app downloads in 2017.

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6.

Paytm invested $5 million in auto-rickshaw aggregator and hyperlocal delivery firm Jugnoo in 2015.

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7.

Paytm established a joint venture with SoftBank and Yahoo Japan, called PayPay Corporation, to offer services in the Japanese market.

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8.

Paytm launched the PayPay app, a QR-based payment settlement service, in Japan on 22 October 2018.

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9.

Paytm Insider is a mobile app that helps to book tickets for Cricket matches, live entertainment shows, sports games tickets online.

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10.

In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.

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11.

Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall.

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12.

Sellers have to pass through Paytm-certified warehouses and channels to ensure consumer trust.

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13.

Paytm Mall has set up 17 fulfilment centres across India and partnered with more than 40 couriers.

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14.

Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018.

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15.

Paytm stated that any person claiming otherwise "is not aware of the policy and is not authorised to speak on behalf of the company".

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16.

Paytm claimed that Google did not offer any prior warning or give the company an opportunity to explain its views on the contentious 'cashback' offers while claiming that Google's own payments app Google Pay offered similar 'cashback' offers and suffered no repercussions.

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17.

In March 2022, It was found by Reserve Bank of India's annual inspection that Paytm app is leaking information of its Indian customers to China based entities by transmitting information to China based servers.

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