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First understand the core problem. Paytm didn’t start with 'we’ll be a payment platform' na they simply identified a gap and built a solution around that.

Instead of trying to build another Paytm clone, start by focusing on a specific pain point in payments that Paytm isn’t solving well. Razorpay and Cashfree didn’t try to become another Paytm—they focused on payment gateways for businesses and scaled from there. BharatPe targeted merchants directly. Find your niche first before you think about taking on giants.

If you’re serious about this, your first move should be understanding the tech behind payments. UPI, wallets, banking APIs—how do they work? Get deep into NPCI documentation, understand how partnerships with banks work, and then start building a basic prototype. If your tech stack isn't solid, everything else is just a dream.

Unlike other startups where you can bootstrap and start small, fintech requires serious partnerships. You’ll need banking partners, compliance teams, and a dedicated fraud-prevention strategy. Payment companies operate in a high-risk environment with constant threats of fraud, chargebacks, and compliance violations. If you don’t have a strong team, don’t even bother.

learn from their mistakes, don't copy everything