Digital payments giant Paytm is exploring ways to grow revenue and reduce losses. Paytm’s parent One97 Communications Ltd (OCL) is devising strategies to monetize its 20-million-strong merchant base in an effort to achieve break even at a group level over the next 12-18 months, after which it will consider an initial public offering. The firm is also looking at new payment devices that can provide real-time Goods and Services Tax (GST) reconciliation for merchants. It is also eyeing a licence for the New Umbrella Entity (NUE), for which it has partnered with Ola Money, ZetaPay, IndusInd Bank among others to focus on use-cases such as micro-merchants and cross-border payments.
On Tuesday, Paytm announced the launch of its soft-point-of-sale solution, which allows merchants to accept card-based payments by tapping on their smartphones. It also launched the upgraded Soundbox 2.0 device, which is an instant voice-based confirmation device when a merchant receives payments. In an interview, Paytm chief Vijay Shekhar Sharma spoke about the company’s renewed aspiration to monetize payments and bolster its new forays. Edited excerpts:
