Paytm is all set to establish its market in the United States of America. The company which already has 140 million active users across the globe is all set to invest Rs. 750 crores in the US market. “Our target is to have 250 million monthly active users this year,” said Deepak Abbot, senior vice president of Paytm.
This decision by Paytm to establish its market overseas is been backed by global internet giants like Alibaba and Softbank.
Paytm, which is an Indian based e-commerce payment system and digital wallet company was established in the year 2010. It is available in English and 11 Indian languages and offers its users to pay bills online in various sectors such as; mobile recharges, travel, movies, restaurants, pharmacies, and in many other sectors with the Paytm QR code.
The company is aiming to achieve three billion user applications for payments and money transfers. To achieve this feat Paytm is all set to allocate Rs. 750 crore rupees to gain its customers from the US. Along with online payment, Paytm is also offering its users with popular gaming destination. “We have registered 100 percent quarter-on-quarter growth for Paytm Inbox which offers content services and in a very short period. Paytm First Games has also become a popular gaming destination,” said Abbot.
With this, Paytm will gain popularity in the United States. This will help Paytm to widen its market in other countries also. This move by Paytm will encourage other entrepreneurs to establish their market overseas, not only making their companies successful but also the nation proud. Only time will tell, how this move by Paytm will work out.