ã€World Wide Web Reporter Zhang Zhiying】 Since 2015, when Alibaba Group and its financial subsidiary, Ant Financial, invested in Paytm, Paytm, India’s largest mobile payment and business platform, has undergone rapid development.
In September 2015, Paytm received a second round of financing of US$680 million, making Alibaba and Ant Financial the largest shareholder of Paytm.
Paytm CEO Vijay Shekhar Sharma stated that the investment of ant gold suits represents a milestone in the development of Paytm. In this investment, Paytm received important technical support: QR code QR code technology, risk control technology, anti-money laundering tools and so on.
Paytm's users have reached 220 million, making it the third-ranked mobile payment platform in the world. Paytm’s internal staff told the media on April 12 that its subscribers grew by one million per month. In India, Paytm's trademark appears in various physical stores such as gas stations, flower markets, bakeries and bars.
Paytm has more than 200 million transactions per month, and the transaction volume is five times the sum of all traditional credit card terminals in India.
Sudheendra Kulkarni, chairman of the think tank of the Observer Research Foundation in India, stated that the traditional banking industry in India has been slow to accommodate the needs of such a large population. He also pointed out that it is very important to allow the general public to join the digital economy, which will promote social progress and end poverty.
Wang Jun, a professor at China Europe International Business School, said that from the cooperation between Paytm and Alipay, it can be seen that India is actively learning from China.
China's mobile payment and digital technology will unleash the huge potential of the Indian market. Now, through the establishment of the financial system, India will accelerate the nightmare of getting rid of poverty.
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