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“Paytm was like a daughter who had an accident”: Founder Vijay Shekhar Sharma

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New Delhi:

Vijay Shekhar Sharma, founder and CEO of Paytm, said the company was like his daughter, who was the topper in a school and met with an accident on her way to an entrance exam.

Speaking metaphorically on the 7th foundation day of JITO Incubation and Innovation Fund (JIIF), Mr. Sharma said, “For me as a founder, my company is like my daughter. As a company, we have grown up. It is like a daughter who is the topper of a school class meets with an accident on the way to an entrance exam. Such feelings are more personal and emotional.”

At the event, he also shared his insights from the Reserve Bank of India’s (RBI) action against Paytm Payments Bank.

The CEO acknowledged that this setback had been an emotional burden for him personally, but had also provided him with a valuable lesson in the professional performance of his duties.

In addition, Mr. Sharma spoke about his dreams and ambitions as well as his ups and downs.

He said his personal goal is to build a $100 billion company, adding that he wants Paytm to be recognized globally as an Indian company.

In addition, he said that listing a company on the stock exchange brings with it “a lot more responsibility and maturity,” which has its own value and joy.

Meanwhile, Paytm has seen early signs of recovery and strong stabilization in its Unified Payments Interface (UPI) business, marking a strong turnaround for the company.

The total value of UPI transactions processed on the Paytm platform rose to Rs 1.24 trillion in May after the company launched several initiatives for users such as a credit card on UPI and pulled the trigger on UPI Lite.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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