Paytm news focusing on consumer payments business: CEO Vijay Shekhar Sharma

Fintech steadfast Paytm's contiguous precedence is to put successful its user payments concern successful an effort to retrieve mislaid idiosyncratic basal pursuing regulatory actions by the RBI, a apical institution authoritative said connected Sunday.

The RBI had restricted Paytm Payments Bank from accepting deposits oregon facilitating recognition transactions successful lawsuit accounts, including prepaid instruments and wallets.

In August, Paytm sold its ticketing concern to foodtech institution Zomato for Rs 2,048 crore to sharpen its absorption connected halfway operations — payments and fiscal services distribution.
"Payments stay our superior business, and the merchant broadside continues to beryllium strong. However, we mislaid a important user basal owed to regulatory constraints. Moving forward, we purpose to reinvest successful the user payments concern area," Paytm CEO Vijay Shekhar Sharma said during an interactive league organised by the Calcutta Chapter of Young Indians, the younker helping of the Confederation of Indian Industry (CII).

Consumer payments encompass UPI payments, portion the merchant broadside involves QR codification transactions.

According to disposable institution data, determination was a abrupt diminution successful monthly transactional idiosyncratic (MTU), dropping from 10.4 crore successful January to 7.7 crore successful May. The fig stood astatine 7.8 crore successful June.

Conversely, connected the merchant side, Paytm saw incremental growth, with the fig of merchants expanding from 79 lakh successful the June 2023 4th to 109 lakh successful the June 2024 quarter, it showed.
Sharma said the institution is tapping into the Third-Party Application Provider (TPAP) concern model.

It involves offering integer payments services to users via assorted platforms oregon applications. TPAPs collaborate with banks and fiscal institutions to facilitate transactions, providing a user-friendly interface for services specified arsenic UPI payments, measure payments and different fiscal transactions.