Riding on the success of the network effect it has created in the online and offline domain, the company is now building a variety of services to enhance engagement and drive repeat transactions from its large consumer base.
Paytm confirmed that it provides up to 200 services on its platform ranging from recharges and bill payments, to travel and entertainment booking, city services like "Fastag", challan, donation and financial services like loan, gold, insurance.
Paytm QR, which is seen at kirana stores has become ubiquitous to cash in India. Paytm Inbox has news, cricket and entertainment videos.
The success of Paytm's business model has attracted America's Google, Facebook Whatsapp and Walmart's Phonepe, who are following a similar strategy without much success so far. They are burning massive cash to attract more users through incentives and cash back.
Deepak Abbot, Senior Vice President, Paytm said: "India is rapidly growing and we see the rise of a trend, where users want everything immediately. We have created Paytm as a super app that encompasses all their daily payment needs instantly. It is extremely satisfying to see that Paytm has become a household brand and is ubiquitous to cash. Going forward, we will continue to bring on board and build as many services to contribute to the mission of Digital India."
( With inputs from IANS )