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  Business   Companies  15 Feb 2017  Paytm wants to be a $100 billion firm by 2030

Paytm wants to be a $100 billion firm by 2030

THE ASIAN AGE
Published : Feb 15, 2017, 1:07 pm IST
Updated : Feb 15, 2017, 1:07 pm IST

Digital wallet service provider also wants to topple top e-commerce players in country in three years.

Paytm is a fast growing digital wallet service privider.
 Paytm is a fast growing digital wallet service privider.

Mumbai: Paytm plans to be a $100 billion company by 2030, digital wallet firm told CNBC-TV18 on Wednesday. Apart from that, it also wants to topple top e-commerce players in three years in country.

The digital wallet service provider said that market place depends on wallet traffic. “Market place dependence of the company currently stands at 40 per cent,” the e-wallet provider said.

 

Besides, Paytm said it hoped Paytm Payments Bank would be launched in last week of February. “The company saw 15-20 per cent dip in offline customers in February,” it said.

The company said its customer acquisition cost is on the rise due to aggressive strategy and that it expected a 20-30 per cent drop in wallet customers as cash increases from March 13.

Government has announced that there will be no restrictions on cash withdrawals at banks and ATMs from March 13, an improved cash scenario the digital wallet wants to cash in on.

Tags: paytm, digital wallet service, e-wallet, vijay shekhar sharma