The COVID-19 pandemic has left the world in a state of confusion and fear. It is fair to say that a lot of establishments have been affected by this. Paytm has scaled back its misfortunes very much in the last financial year even while the nation kept on confronting the economic slowdown. The homegrown financial services platforms have already revealed a revenue increment to Rs 3,629 crore with a 40% decrease in losses on account of an expansion in several points of sales gadgets, Paytm declared on Friday.
SMEs and Kirana stores have been quickly embracing PoS gadgets as the transactions can easily be processed and shortage of liquid money is not hindering the business. The organization will zero in on increasing its financial services with lending money, wealth management and insurance contributions as it has opened up new revenue streams for the company. We are additionally investing vigorously in building advanced services for our merchant partners so they can profit from technology and financial incorporation. The company is on the way to engaging a large number of Indians with computerized financial services that would play a key part in building Atmanirbhar Bharat.
Paytm has onboarded 17 million merchant partners for its instalment and financial services and has enrolled a solid crowd and identified individuals in Bharat. It strikes a large number of merchants who are focussed on products, for example, Paytm for Business application, Business Khata, Soundbox, Pay-out services, and many more. The equivalent is relied upon to help change the way SMEs work together in the nation. This will increase the usage of these intermediaries and thereby increasing the overall usage of the products offered.
Keeping in mind the end goal of turning into a considerable force or a presence in India’s computerized financial services scene, the organization is additionally going to seek its potential in Paytm Post-paid, Paytm Money and Paytm Insurance services contributions which are required to add to increased turnover in the coming financial years.
Paytm has expanded the number of people they are employing to exercise the problem of organizations laying off staff amid the COVID-19 pandemic. It is currently during the time spent recruiting more than 1,000 Engineers, data researchers, financial analysts, representatives and other employees of the company for different technological and non-technological jobs.
