E-commercial websites have grown a lot in recent years, whether it is for shopping or for making payments. Nowadays, several companies are coming up with a single application for every type of service. Similarly, Paytm is one of the companies where a customer can shop anything and, along with that, they can even make payments online. In this article, we will see about ‘How Does Paytm Make Money?’.
How Does Paytm Make Money?
Due to the introduction of several e-commerce companies like Paytm, Phonepe, Paypal, Amazon Pay, and other such kinds of company transactions has become so much easier. Not a long time ago, when there were no such companies, people had to visit the nearest bank branch to make a transaction.
Paytm was introduced in the market only because of making online transactions from the comfort of your home. The company was founded back in the year 2009, and the current CEO of the company is Vijay Shekhar Sharma.
Paytm’s Income Method
Now, for such large e-commerce companies, one should wonder how do they earn their revenues? Well, the answer to that question is quite simple because e-commercial companies like Paytm have partnered with financial institutions so that Paytm can sell their products and services.
Paytm has also got its financial services and products that they offer to their customers directly. This is one of the other ways that Paytm earns money. Paytm charges some amount of commission according to the contract that they have made with several parties.
Paytm is earning huge revenues just by partnering with financial institutions. The commission that they charge is also one of the primary earning of Paytm. Being an online transaction application, Paytm focuses on its finances as well.
If you recharge your mobile, then also Paytm earns a certain amount of money. There is a % share that goes directly to Paytm from the total amount recharged. So, these are some extra ways of earning by Paytm.
Paytm’s Internal Working Team
Paytm is a company that does not operate with a single person. There are many people behind their day-to-day business activities. Credit should be given to employees working at Paytm to solve customer issues and provide an effective solution to them.
Working for Paytm is a great choice because most employees have recommended others working at Paytm company only because of their excellent working culture. Fresh candidates can begin their career working for Paytm and can have the chance to earn enough money.
Paytm Founder and Company History
One97 Communications Limited is the owner of Paytm, and the founder of Paytm is Vijay Shekhar Sharma. He is also the Chief Executive Officer (CEO) of One97 Communications Limited. According to Wikipedia, Paytm is one of the largest multinational technology companies in India. Paytm is known to have been founded back in the year 2010.
Paytm started its journey with an initial investment of US $2 million. Back in the day, the company was only known for its online prepaid mobile recharges and DTH recharge platform. By the year 2013, Paytm added several other recharging services like data cards, postpaid mobile, etc.
Vijay Shekhar Sharma holds around 14.67% shares of the company along with other groups like Ant Group, Softbank Vision Fund, and a few more. As years went by, Paytm made several acquisitions, and one of them was acquiring Plustx. Plustxt was a platform where people could text messages in any Indian language. Later back in the year 2018, Paytm acquired a startup named Cube26.
Paytm Services & Application Platform
Paytm comes with several services other than just transaction services. In other words, the company offers all services to their customers. Paytm has proved that they are one of the largest e-commerce business companies in India only because of their quality services.
Paytm has got its application platform where all the main businesses are conducted, and it is where all the monetary transactions take place. With just a few clicks, you can send money from your bank account to any other bank account. However, you will need a good data connection on your smartphone.
Talking about the application of Paytm then one can say that it is quite user-friendly. The design of the application is made quite simple so that it becomes easy for customers to use. Paytm comes with several other products and services of their own, which can be browsed itself.
Paytm application platform offers services like booking tickets, making reservation hotels, paying rents, online shopping, and many other such kinds of services. Customers have felt satisfied with the services offered by Paytm. Paytm offers services that no other e-commercial services have ever offered before.
How Has Paytm Created Jobs?
The company has got several jobs where both experienced and as well as non-experienced candidates can be hired. An employee working at Paytm works on various things depending upon the post that he/she is working in.
Paytm opens jobs for even 10th pass students where they have to work on KYC. These kinds of jobs can be applied by inexperienced candidates like college students. On the other hand, Paytm also offers sales executive posts where candidates have to possess some experience.
The hiring process can be done offline, or it can be done online, too, due to the recent scenario. Paytm is also helping to make growth in employment in smaller villages in India. Paytm had recently launched an advertisement for hiring field sales executives (FSEs). They also offered that people working on this post would earn around INR 35,000 per month.
If you are interested in working as a service agent, then you have to work on onboarding shopkeepers for Paytm. This work happens by placing a QR code at their shops. However, different job posts will demand different duties and responsibilities.
Paytm’s ESOP Plans
Paytm earns their revenues through charging commissions, and they have done quite great in that. However, on average, employees working as an associate would earn around INR 2,80,000 per year. Depending on the job title, the salaries are based on when working for a company like Paytm. According to some reports, Paytm is working on helping its employees to convert their ESOP into shares.
Paytm has a great working culture, and if you are interested in working then you should work here. One can gain experience and can achieve so much while they are working for the company. The salary that they offer is quite decent, but sometimes the workload for the employees could be huge.
ESOP plans are quite good, and they will prove to be beneficial when an employee retires. The purpose of ESOP is to give some benefits to lower-income employees and also to younger employees too.
If you have a great interest in leading a team, then you might have an opportunity at Paytm. Paytm takes in people who are great at leadership skills. An experienced team leader at Paytm can earn around INR 5,00,000 per annum.
It is because of the employees that Paytm is running successfully. People are even satisfied with their services, and we hope that their quality of service keeps improving.
Conclusion
Now we have learnt ‘How Does Paytm Make Money?’, Paytm is now only operating in India, and it has not yet spread its business outside India. We hope that Paytm launch several branches outside India so that people can know more about the company and its businesses.
Working for Paytm would be a great choice if you hold high degrees like an engineering degree or an IIT certificate. The company still has got a lot of work and improvements that they need to make. If you are studying technology, then you might have an opportunity here.
Frequently Asked Questions
- Who is the founder of Paytm?
Ans: Vijay Shekhar Sharma is the founder of Paytm. He is also the CEO of One97 Communications Limited. The company has its headquarters located in Noida, Uttar Pradesh.
- When and where was Paytm created, and how much is Paytm worth?
Ans: Paytm was created back in the year 2010 in Noida, India. Paytm has made billions through its services. According to some reports, the company was valued to be $16 billion.
- What is the full form of Paytm? Is Paytm safe
Ans: The full form of Paytm is Pay Through Mobile. Paytm is completely a safe platform for making monetary transactions. However, one should be beware of fraudsters calling from unknown numbers asking for details and information.
- Does Paytm work outside India?
Ans: Paytm does not work outside India. This means foreigners cannot use Paytm and make a transaction. However, Paytm have launched their services in Canada.
- How to open an account at Paytm?
Ans: Follow the following steps to open an account in Paytm:
- Download the official Paytm application.
- Create a new account
- Enter your phone number, email address, and create a password.
- You will get an OTP on your phone, and you can open your Paytm account.
- What documents are required to open a Paytm account?
Ans: You do not need any documents to open a Paytm, but you should have a valid phone number and an email address. For the KYC process, you need to visit the nearest store for the KYC process.
- Is the working culture great at Paytm?
Ans: The working culture at Paytm is great, and employees feel motivated to work. Paytm values its employees and makes sure that they work efficiently in the organization.
- What is the main setback of Paytm company?
Ans: The company might be one of the largest e-commerce companies in India but the company lack when it comes to their customer service.
