Paytm Now A Case Study At Harvard Business School
Paytm's journey from being an online recharges platform to building India's largest mobile payments platform has been selected as a case study by the India Research Centre of the Harvard Business School (HBS), Harvard University, the e-wallet company said on Monday. Paytm was launched on January 3rd 2014 as a mobile wallet and it has become the category leader and changed the digital payment scenario in India. The HBS study, titled 'Paytm: Building a Payments Network,' also looking into on how Paytm's focus on enabling offline payments even for the smallest retailers and businesses by using smartphones and QR codes has disrupted the payments ecosystem in the country. According to reports, Paytm is now accepted by over 3 million merchants and has over 185 million registered wallet users.
"We are on a mission to bring half a billion Indians to the mainstream economy and, in turn, build a business that India would be proud of," said Vijay Shekhar Sharma, CEO Paytm, in a statement.
"Paytm is revolutionising payments in India and it is a shining example of India's digital future," said Sunil Gupta, Professor at Harvard Business School. The study is currently in the process of being published and will be available for teaching purposes both within and outside Harvard.
Paytm has announced in January first week that it has received RBI approval to launch the Paytm payments bank formally. Vijay Shekhar Sharma, the founder of Paytm, wrote in a blog post that he intends to take a full time executive role in the
Paytm payments bank. "At Paytm Payments Bank, our aim is to build a new business model in banking industry, focussed on bringing financial services to 100's of millions of un-served or underserved Indians", he said in the blog. The company was one of the entities granted approval to launch a payments bank in 2015; it had been targeting a Diwali launch but missed its deadline a couple of times.
(With inputs from IANS)
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