At a time when not many people knew about e-wallets, and e-commerce was still quite raw in India, a company was working on probably India’s first e-wallet. Never did this small company know that one day, their small venture would become one of the best e-commerce services in India. Yes, it is PayTM. The website was launched in August, 2010, as an e-commerce service, e-wallet, and payments bank and since then it has become one of the biggest merchant company in India, receiving funding from the Chinese e-commerce giant, Alibaba. Alibaba Group has the biggest stake in Paytm (today). As of March 2017, Alibaba has increased its stake in the company by 177 million USD, making its total stake around 850 million US dollars, which is undoubtedly huge!
About Paytm App–
( DOWNLOAD PAYTM FROM 9APPS )
One97 Communications is the group behind Paytm. The name ‘Paytm’ is shortened for Pay Through Mobile. It (One97) launched Paytm in 2010 as an online mobile prepaid recharging website, by Vijay Shekhar Sharma.Later, in 2013, he went on to establish Paytm wallet. His motivation behind this wallet was the Chinese vendors, whom he saw accepting payment through e-wallets in one of his visits to China. Little did he know that one day Paytm would become the most acclaimed (and relied upon) service in India.
The wallet service was launched along with the app, 2013 (for Android, iOS). As per the official claims, by the end of 2016, more than 200 million wallets and 100 million Android apps had been downloaded. During the demonetization of 500 and 1000 rupee notes, Paytm served as a saviour for many people (especially small-mid scale businessmen). There was a shortage of money in the ATMs and banks were overcrowded. This created a scene of panic all around. Thankfully, Paytm paved way for newer methods of carrying digital cash and transactions. Today, Paytm wallet is accepted in more than 50% of the Indian market, and every 1 out of 4 people (who own Android smartphone), use Paytm. As long as the funding goes, big Indian businessmen have made investment in the company. Apart from that Alibaba Group, Softbank, and Ant Financial Services Group have also invested in the company.
Features of Paytm-
People often ask, “Why Paytm?” Well, the answer to that is quite simple. Paytm is one of the earliest mobile payments/recharge network in India, it is easy to handle, and is very user-friendly. Some of the features of the app are-
- Paytm app comes laden with plenty of offers/discounts when it comes to prepaid mobile recharging. It has been approved by a lot of network providers and it is trusted by more than 2 million people across India, for the past seven years.
- It has even spent over 200 crore rupees and has become the title sponsor of the Indian Cricket Team.
- Apart from that, it has a very user-friendly interface, with well sorted and well-arrangedoptions.
- Be it recharging your prepaid device, paying postpaid bills, paying broadband/landline bills, electricity bill, DTH bill etc. Paytm is your one stop for all that tasks.
- Another great feature of the app is that you can also pay the institute fees for plenty of coaching institutes, colleges, universities etc.
- There are a lot of offers on the go. Just enter a promo code or offer code, and test your luck.
- Apart from that, buying LPG cylinders, paying water tax, paying electricity bill, buying metro tickets etc. Paytm is accepted widely.
- You can also book movie tickets, flight tickets, railway tickets etc.through the app.
- Paytm even is a shopping app. So, you may find great deals in clothing, electronics, electrical appliances etc.
How to install PayTM app-
- Download the .APK file to a secure location on your Android device.
- Go to Settings > Security Settings > Turn on Enable Installation from Unknown Sources.
- Using a file manager, search for the downloaded .APK file and install it.
- You can also create a home-screen shortcut for Paytm for easier access.