Paytm Success Story

Paytm is one of the highly successful e-commerce websites in India. Founded in 2010 as a prepaid recharge website, Paytm no longer offer recharge services only, it is enlarged as an online payment platform including utility bill payment, wallet payment. Through Paytm, You can also have a direct access from wallet to bank transfer, e-commerce sites like Bookmyshow, Makemytrip, Zomato, Faasos, Swiggy, PVR Cinemas, FoodPanda, IRCTC and many more.

Nowadays, Paytm is the major transaction place today. Compared to Jabong, Cleartrip, Yatra, MMT, Flipkart, Paytm is growing rapidly, their app has been downloaded by over 7 millions of people on the various platforms, and 20 millions of people have registered in Paytm. Their website and mobile app have been modified into a colorful as well as easy to use e-commerce store with offers like mobile phones, sports & health products, books, and products from other categories like electronics, home & kitchen, baby & toys and many more categories. 

Paytm started offering the attractive offers as well as coupons and cash back offers, which is greatly attractive to the customers as well as interesting. People can buy the product as well as sell the products at Paytm. That’s why Paytm has over 15 million orders per month.

Success Story

Vijay Shekhar Sharma has started his own Business Xs Corporation with his friend Harinder Takhar that provides web guide services to clients. After receiving the fund from one of the Angel investors, Vijay Shekhar and their two friends continued establishing the company well till 1999, after that they sold the company to the living media.

After selling the firm, Vijay Shekhar worked for a company for some time, but soon he quit the job. That time he had only 2 lacks in his hand and it was fair enough to establish a company. Along with his colleague Rajiv Shukla, Vijay Shekhar  founded mobile value-added services firm One97 Communications Ltd. But in 9/11 tragedy, their business was broken down. Then his partner left him. Then his pocket is empty and he started to use public transport. His family asked him to take a new job and the family members were trying to find a girl to Vijay Shekhar but nobody was not ready to get him married as he was jobless. Finally, he got a job, beside that he continued innovating something new, when the smart Phones started becoming popular. In December 2010, he launched Paytm, a mobile wallet.

In February 2014, Vijay launched Paytm’s mobile based marketplace. Paytm also has contracted with IRCTC (Indian Railway Catering and Tourism Corporation) to allow passengers to book a ticket through paytm wallet. Paytm has 60 million wallet users who can use their wallet to shop over the app and they can pay using Paytm wallet across 21,000 merchants instead of using plastic cards like credit card, debit card and other cards.

Paytm claims to earn revenues of over $500 million, but Vijay Shekhar says this will cross more than $2 billion by December 2015. In addition to that, Vijay Shekhar said that we don’t think more about profitability, we are focusing to get more users.

Have a Plan to Develop Paytm like App?

If yes, we are here to help you. FuGenX is an emerging mobile application development companies in London, UK and India. We help clients to achieve success in the mobile app world with dedicated effort and world-class service. We have a big team with a strong background and we develop top quality apps for all sorts of businesses. We are rated as one of the most trusted iPhone application development companies in London, UK. Also, our expertise in Android app development has made us as an emerging Android application development companies in London, UK.

If you need any help to execute the mobile app development project for your business, feel Free to e-mail us at info@fugenx.com or visit fugenx.co.uk. We are here to help you.