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Paytm’s revenue rises to Rs 3629 crores in FY20

Paytm has become a household name for online transactions nowadays. Be it small shops or big malls Paytm is accepted almost everywhere. With increased year after year adoption of the platform, the startup is seeing a constant rise in its revenue. According to some reports, Paytm’s revenue in FY20 has risen to Rs 3629 crores.

With rising revenue comes more significant profit. Though the company has not realised any actual gain yet, the company’s loss has narrowed down to 40%.

What is the company doing to generate more revenue?

Paytm President Madhur Deora said, “We are on the path to empowering millions of Indians with digital financial services that would play a key role in building Atmanirbhar Bharat. We are also investing heavily in building digital services for our merchant partners. Our efforts have started reflecting in the strong adoption of more profitable services by our consumers and merchants.”

Paytm's revenue

Image Source: entrackr.com

According to some estimates, the company might become profitable by 2022. Paytm is also increasing the portfolio of services provided by the company. They have already introduced Paytm money, Paytm insurance and many more.

Another critical aspect of growth in Paytm’s revenue is the increased number of merchant partnership. Madhur Deora said:

“Paytm has registered over 1.7 crore merchant partners benefiting from its payment and financial services with the launch of merchant focused products such as Paytm for business app, Soundbox, Business Khata, Payout services among others that are transforming the way SMEs do business in the country”.

They are also focusing on hiring talented individuals who can take the company forward. Even during the time of the pandemic, they are hiring employees to improve the quality of services provided by them.

Do you use Paytm for payments everytime? Let us know in the comments below. Also, if you found our content informative and useful like and share with your friends.

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