PayTM Business Model
PayTM Business Model : Paytm, a name loosely based on ATMs which are the lifeline of India when it comes to cash is currently India’s biggest payment shopping portal and e-wallet enterprise.
Started int 2010 by its parent company named One97 Communications and founded by Vijay Shekhar Sharma is the synonym to digital payments in India. Initially started as an online mobile recharge website and graduated to become an online marketplace to sell almost everything under the sun.
PayTM business is believed to be India’s biggest online service provider specializing in banking solutions payments, mobile payments, bill payments and recharge. It’s thus far provided over 100 million users with services. PayTMs variety of services has gained significant notoriety and eventually become exceptional for most inside the online payment market.
PayTM business works on a simple business model, the cash backs. Whenever a customer uses a service of PayTM, he is provided with some cashback which customer thinks is a saving. But the caveat here is, this cashback can only be used through PayTM to transact on something else.
From the seller side, they earn commisions. So more you sell more commission you receive. This commission out of the own service functions because of its revenue. The services have helped the provider much in expanding its base and also consequently growing exponentially. Once the purchaser is satisfied with all the product or service, PayTM ensure the customer comes back in the form of customer retention to use the cashback they receive. Paytm proceeds to earn a profit and has employed this plan. This version makes it possible for users to save or buy in electronic form and not in the way of real money. Paytm is well conscious of just how much gold has been spent in India, and it is fully ready to cultivate using this particular specific opportunity. With this, they have introduced Gold purchase option online, which you never get in hand, but is something called virtual holding.
PayTM future plans to facilitate its users to receive their Gold in Bank Accounts virtually. Aside from allowing users to purchase their gold, they may also provide users with access to these accounts in future which will not be left virtual. Like people can literally touch and feel the gold they have purchased. In the event you go to your shop and watch a plank which says “Paytm Accepted here”; ask your self exactly what meaning it carries, it basically suggests that Paytm is promoting e-commerce or even perhaps a trade of online products.
Paytm has diversified its services. Paytm brings many sellers to its own extensive goods like clothes, shoes, etc. . its internet site who send services and products for you in a decent moment. Just how do Paytm Generate Income? Paytm is be a booming enterprise that’s made its own mark at the Indian service and financial industry. The simple fact that it moved to a company in a fast-pace out of a startup firm underscores India’s capitalist system’s accomplishment, and invention has been used appropriately from the nation. Many entrepreneurs could enjoy inspiration from your Paytm model and optimize the way to victory by adopting the same plan.