![]() Both these players are likely to emerge as strong competitors for Paytm, which currently has a lead with 300 million registered users and 120 million monthly active users of its in-app messaging service.īased on these growth parameters and Paytm’s internal goal to double the transactions on its platform, we forecast a base scenario of 100% revenue growth for Paytm for fiscal year 2019 and an aggressive growth scenario of 200% growth. Google Payments in India has seen 750 million transactions since its launch in late 2017, and WhatsApp boasts a user base of more than 200 million active users in India. However, with Google and WhatsApp launching a payments platform in India, Paytm is likely to face strong competition going forward. This is more than double its GTV in 2018.įurther, the digital payments economy is set for a very high growth in India, and is likely to reach $1 trillion by 2023 from $200 billion in 2018. The company is likely to generate a gross transaction volume of $50 billion in 2019 based on its half-year numbers. We expect strong revenue growth to continue over the next few years as One97 focuses on expansion and improving its platform. The factors have contributed towards the company’s strong revenue growth. The value of transactions on its platform has also increased by more than 50%. The company increased the number of merchants on its platform from 1 million in the beginning of 2017 to 7 million by March 2018, and also launched its mobile app in multiple languages, appealing to the diverse population in India – consequently driving growth. This growth can be partly attributed to government policies in India promoting digital payments, as well as Paytm’s efforts to bring a wide range of payments such as traffic fines and highway tolls on its platform. With more than 150% growth in transactions between April 2017 and March 2018, the company is now aiming to double its transactions over the next fiscal year (ending March 2019). They claimed that such information would give an edge to the competition.Paytm has witnessed strong growth in the number of transactions in the last two years. ![]() This might have been a result of all that,” said the sources close to the company. The company has now gone international and this would affect detractors. “The information is sensitive and could help competition gain access to a lot of company’s secrets. It is learnt that she had told Sharma to pay the blackmailer and had assured him that she would help him track the culprits thereafter.Īccording to sources close to Paytm, the stolen data included mails and conversation between Sharma and his business partners, aides, as well as with various government officials. His brother, Ajay Shekhar Sharma, who looks at one of the business segments, too, got calls.ĭhawan has been an employee of Paytm for the past eight years, coinciding with the period of peak growth for the company that was founded by Sharma in 2001. Sources said Sharma’s financial as well as personal data, stored on his cellphone, was lost, following which he started getting extortion and blackmail calls. Sources close to Sharma said the company has grown big enough now for him to have more enemies than friends, hinting at a case of business rivalry and perhaps espionage. Sharma, however, said buying or selling ESOPs is the prerogative of the person who owns them. Sources said Dhawan wanted to buy a house worth Rs 50 million.ĭhawan’s lawyers have claimed that she was being forced to sell ESOPs (employee stock ownership plans) she had accumulated over the years and some of the people close to Sharma were trying to elbow her out of the company. But she did not directly ask for any money,” he said. ![]() “She mentioned buying an expensive house. Sharma also confirmed a conversation had taken place on Dhawan buying a house. When I spoke to her last, I asked her to help me,” he said.Īlso read: This Isn’t Just About Paytm – Laws on Government Access to Data Need to Change He added that as Dhawan had been named she should help the police. Sharma said he hopes for the best outcome in the case. The fourth accused, Rohit Chomal, who made the extortion calls from Kolkata, is absconding. The blackmailers threatened they would leak his personal data. Two Paytm employees – Devendra Kumar, a manager in the administration department and Dhawan, Patym’s vice-president of corporate communication – and Rupak Jain, Dhawan’s husband, were arrested for allegedly trying to blackmail Sharma and extort Rs 200 million. Cops will unearth the truth,” said Sharma. It is possible that she has been used as a conduit. I have always believed her (Sonia Dhawan, his secretary and one of the accused). ![]() “I’m stunned and want to figure out the truth. New Delhi: Breaking his silence for the first time since the news of data theft at Paytm came out, founder and chief executive officer Vijay Shekhar Sharma on Wednesday said he was shocked and wanted answers.
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