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We are AI-first: Paytm CEO outlines vision for tech-driven future of payments - The Economic Times

Economic Times

Economic Times · 2m ago

We are AI-first: Paytm CEO outlines vision for tech-driven future of payments - The Economic Times

Paytm CEO Vijay Shekhar Sharma highlighted the company's commitment to an AI-first approach, focusing on innovation and strengthening core payment operations for sustainable growth and profitability. Paytm achieved its first profit after tax-positive quarter, driven by strategic focus and disciplined execution. Sharma emphasized their AI-led solutions redefine merchant services, with plans to expand financial services and insurance offerings. The company aims to enhance user experience, strengthen market presence, and contribute to India's digital ecosystem.

Related News

Paytm cuts headcount by 4,600 in FY25 - The Economic Times

Economic Times

Economic Times · 2m ago

Paytm cuts headcount by 4,600 in FY25 - The Economic Times

Paytm reduced its employee headcount by approximately 4,600 in FY25, with the total on-roll employees dropping from 43,960 in FY24 to 39,368. The reduction, mainly in sales staff, helped cut employee costs by 21%, saving around Rs 651 crore. Despite this, Paytm achieved its first profit of Rs 123 crore in Q1FY26 by focusing on core payments and efficiently managing expenses. The company plans to continue investing in growth opportunities.

NPCI, Razorpay join OpenAI to pilot agentic payments on ChatGPT - The Economic Times

Economic Times

Economic Times · 9d ago

NPCI, Razorpay join OpenAI to pilot agentic payments on ChatGPT - The Economic Times

India's National Payments Corporation and Razorpay are collaborating with OpenAI to introduce agentic payments on ChatGPT for Indian customers. This pilot program enables users to make transactions via ChatGPT, with Razorpay processing these payments. The initiative, incorporating partners like BigBasket, explores AI-driven commerce and future autonomous transactions. It utilizes Razorpay’s banking partners and UPI systems, aiming to revolutionize payment interactions with AI technology.

Paytm planning brand makeover to reflect its bet on AI: Vijay Shekhar Sharma - The Economic Times

Economic Times

Economic Times · 11d ago

Paytm is undergoing a major rebranding to emphasize its focus on artificial intelligence (AI), according to founder Vijay Shekhar Sharma at the Global Fintech Fest in Mumbai. Sharma highlighted AI as his future focus and noted the importance of India enhancing its AI capabilities. Paytm has begun integrating AI into its processes to improve cost-efficiency and financial performance, while recently launching an AI-powered tool for processing merchant payments.

Listed fintechs cut marketing spends to boost fundamentals - The Economic Times

Economic Times

Economic Times · 2m ago

Listed fintechs cut marketing spends to boost fundamentals - The Economic Times

Fintech startups like Paytm and PB Fintech have significantly reduced marketing and promotional expenses to strengthen business fundamentals and achieve profitability amidst challenging economic conditions. Paytm, which reported its first business-driven profitable quarter, cut marketing expenses by 55% for the June quarter, contributing to a 20% reduction in overall expenses. PB Fintech similarly decreased marketing costs across two quarters, focusing on cost-effective operations while expanding its business lines. Balancing growth and cost management remains crucial in this competitive sector.

Paytm announces ‘gold coin’ rewards on payments - The Economic Times

Economic Times

Economic Times · 23d ago

Paytm announces ‘gold coin’ rewards on payments - The Economic Times

Paytm introduces 'gold coins' as reward tokens for transactions, redeemable as digital gold. Applicable across payments, including UPI and cards, with double tokens for credit card UPI payments. Aimed at boosting UPI share after a dip.

Paytm Group CFO Madhur Deora to step down from board - The Economic Times

Economic Times

Economic Times · 2m ago

Paytm Group CFO Madhur Deora to step down from board - The Economic Times

Paytm's parent company, One97 Communications, announced board changes alongside its Q1 financial results. Group CFO Madhur Deora will retire as executive director at the next AGM and not seek reappointment. Independent director Bimal Julka resigned, and Urvashi Sahai was appointed as an additional director. Paytm reported a Q1 net profit of Rs 123 crore, with a 28% revenue increase to Rs 1,918 crore, driven by payments and lending business growth, while expenses dropped 18.5%.

RBI’s Clampdown On PPBL Not The Biggest Setback Faced By Paytm: Vijay Shekhar Sharma

Inc42 · 1y ago

RBI’s Clampdown On PPBL Not The Biggest Setback Faced By Paytm: Vijay Shekhar Sharma

Paytm founder Vijay Shekhar Sharma has acknowledged the difficulties that the company faced during its early years, including delays in finalizing agreements and investors backing out last minute during fundraising efforts in 2013-14. Regarding the regulatory action taken by the RBI on Paytm Payments Bank, Sharma admitted the mistakes made and stated that lessons have been learned. However, he remains optimistic about the company's future and has set a vision to turn Paytm into a $100 billion company.

Paytm plans to revamp senior leadership, key

YourStory

YourStory · 1y ago

Paytm plans to revamp senior leadership, key

Paytm, the Indian digital payments giant, is set to expand its senior leadership team with key appointments in the near future, according to CEO Vijay Shekhar Sharma. The company has experienced a number of high-level departures recently, including the President and Chief Operating Officer, as well as the Chief Business Officers of UPI & User Growth, and Offline Payments. Despite these exits, Paytm has made important hires to strengthen its leadership, such as the appointment of Narasinganallore Venkatesh Srinivasan as a Non-Executive Independent Director and Rakesh Singh as CEO of Paytm Money Ltd.

PayPal CEO: India's UPI is its platform's first onboard payments system partner - The Economic Times

Economic Times

Economic Times · 11d ago

PayPal CEO: India's UPI is its platform's first onboard payments system partner - The Economic Times

PayPal has partnered with India's Unified Payments Interface (UPI) as the first payments system integrated into the PayPal World platform, according to CEO Alex Chriss. This collaboration highlights the strategic significance of UPI in global financial transactions, reflecting a growing trend toward faster and more secure online payment solutions.

PayNearby plans to go public next year, says CEO - The Economic Times

Economic Times

Economic Times · 1m ago

PayNearby plans to go public next year, says CEO - The Economic Times

Indian fintech firm PayNearby plans to launch an initial public offering in the next financial year to fund expansion, according to CEO Anand Kumar Bajaj. Unlike industry giants Paytm, PhonePe, and BharatPe, which dominate payments and lending, PayNearby leverages a network of local retailers to deliver digital services. The company aims to increase its retailer network by 500,000 over two years and hire approximately 550-600 employees by the end of the current fiscal year.

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