Paytm is an Indian e-commerce website headquartered in Noida, India. It was launched in 2010 and adds to the industry of FinTech in India. It is owned by One97 Communications. The firm started by offering mobile recharging, adding bill payment and e-commerce, with products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it further added booking bus travel.Paytm also launched movie ticket booking by partnering with Cinépolis in the year 2016.
Paytm was founded and incubated by One97 Communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for “Pay Through Mobile”.with Android, Windows and iOS apps.
In 2014, the company launched Paytm Wallet, now India’s largest mobile payment service platform with over 100 million wallets & 10 million app downloads.According to data shared by App Annie, a mobile-tracking website, Amazon has taken the second position from Paytm in terms of mobile downloads.
The application enables users to perform purchases such as air tickets, taxi booking, mobile recharge, DTH bill payment and electricity payment, among others.Paytm users can also pay for fuel at Indian Oil Petrol pump through the wallet.Users can also book movie tickets as the e-commerce player has partnered with PVR Cinemas.