Paytm betting big on cross-border payments, GST as new growth frontiers

Vijay Shekhar Sharma at the Asia PE-VC Summit 2018 organised by DEALSTREETASIA

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:

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