INDIA: Paytm, India’s leading payments and financial services distribution company and the pioneer of QR, Soundbox, and mobile payments in its 24th Annual General Meeting (AGM) on Thursday reaffirmed its commitment to profitability with a compliance-first approach while focusing on its core payments business. “With a commitment to the core payments business, we aim to deliver PAT profitability soon,” Sharma said.
At the AGM, Paytm’s Founder and CEO, Vijay Shekhar Sharma, highlighted Paytm’s significant role in India’s digital payments revolution, particularly through its pioneering innovations like the QR code and Soundbox. “Our commitment has always been to create a world-class product for Indian businesses and small merchants, setting a global benchmark. Today our business has become a globally replicable template,” he said.
Being a leader in fintech and with a commitment to building for India, Sharma said that the team is ready to replicate the same success in Artificial Intelligence. “Our team is already utilizing AI across all areas—technology, product, business, and operations.
Paytm is focused on expanding its merchant base, currently serving around 40 million merchants, to reach 100 million across the country. Madhur Deora, President and Group CFO, underscored Paytm’s mission to bring half a billion Indians into the mainstream economy. He further highlighted the company’s strong financial position, noting a robust balance sheet with a cash balance of Rs 8,500 Crore.
