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Paytm (an acronym for "pay through mobile") is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. [4] Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications.
One97 Communications Limited was founded in 2000 by Vijay Shekhar Sharma in New Delhi.The company is headquartered in Noida, India. [10] It launched Paytm in 2009 as a digital payments platform to facilitate cashless payments. [11]
In 2015, Paytm Payments Bank Limited received in-principle approval from the Reserve Bank of India to set up a payments bank and was formally inaugurated on November 28, 2017. [ 5 ] [ 15 ] In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. [ 16 ]
Paytm and PhonePe which is in advance stage of integration will act as Payment Network Partners (PNP) for ONDC. PhonePe planning to join ONDC both from buyers and sellers side. [114] Till 15 May 2022, 24 ecommerce platforms are joining ONDC. [115] Paytm Mall confirmed joining ONDC network with primary focus on exports. [116]
Pine Labs is an Indian company that provides point of sales systems and payment systems, founded in 1998. The company has a valuation of over US$5 billion. [3]The company makes Android-based point of sale (PoS) machines [4] and has more than 70,000 retailers across India, including retail outlets such as Spencer's Retail, Pantaloons, Shoppers Stop, and Westside. [5]
PAX Technology S90 credit card terminal with a Visa card inserted.. A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly" [1]), is a device which interfaces with payment cards to make electronic funds transfers.
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