Two words that come to almost every Indian’s mind while shopping post demonetisation are
“Paytm karo.” Paytm has brought a paradigm shift in the retail industry by completely
transforming the payment methodology. We now can recharge our metro card, pay bills for utilities
like electricity and water, transfer funds to other bank accounts, book flight/train/bus tickets,
make hotel reservations, etc.
Paytm was launched in August 2010 by Vijay Shekhar Sharma. Paytm, which started as an online
mobile recharge and bill payment platform, now enables its users to make almost every kind of
transaction on a click of a button.
This online payment system is not only secure but also robust.One of Paytm Success Story is it
can handle around 5000 transactions per second. A high capacity of transactions has been made
possible by the implementation of a very simple yet effective and safe payment method. Users
can simply pay by either scanning a QR code of the shop or by entering the mobile number of the
Vijay Shekhar Sharma owns a company whose current value is a little over $3 billion in the market
in 2016, a dream dreamt when he was struggling to make ends meet with Rs 10 in pocket. But he
tasted victory the hard way. Nothing came easy for him. The tears he hides behind the chirpy self
that he puts up in front of the world could not be hidden for long while recollecting his journey.
Interestingly, it was not talking about his failures that brought tears in his eyes; it was his hard
A topper in his school, he was lost in transition in Delhi College of Engineering. Coming from a
very humble background, Vijay did not know how to read and write English for studied in a Hindi
medium school. However, he realised soon enough that to make it through college, he must start
learning the language first.
The first-bencher in school slowly started gravitating towards the back benches, and in a short
while, was so disheartened and disillusioned with his bad grades, mostly due to language
constraints, that he completely stopped attending college. He decided to build, to use the time he
had from ‘not attending college’ by turning an entrepreneur. A believer in challenging the
unknown, he made the internet his playground.
Things took to a better turn when he began One97, the parent company of Paytm. They started
experimenting with the three basics of internet- content, advertising and commerce.
The board was not convinced with his idea, as he was talking about betting the company’s money
on a non-existent market. So he put 1% of his equity, which was about $2 million around 2011, on
the table. And that’s how Paytm came to life.
Paytm’s story shows that if you really want to do something, and are willing to risk everything, and
that things is definitely yours.