The Big Story

Transaction Initiated

Payments banks need to figure out rural outreach and a sustainable business model to escape unscathed 

Published 7 years ago on Apr 05, 2016 7 minutes Read

Facebook founder Mark Zuckerberg’s famous motto - Move fast and break things - is plastered on the walls of Paytm’s office in Noida. Abiding by the adage, Paytm has moved from a mobile recharge and utility payments provider to the country’s largest mobile commerce platform in its own words.  After being valued at $2.8 billion in its last funding round, Paytm has now set its eyes on becoming a payments bank, with 500 million users by 2020. It sure has moved fast, but the question now is can it break things? Or rather can it along with other payments banks wrest market share from the incumbents?