Paytm opts out of regulatory licences, shifts focus to distribution

Quick Summary:

This strategic decision comes in the aftermath of regulatory actions earlier this year that impacted its banking entity.

Billionaire founder-CEO Vijay Shekhar Sharma last month reported the company’s first-ever decline in sales on record and promised to reduce its non-core assets.

The focus has shifted towards a distribution-led model for personal loans, where Paytm facilitates distribution while licenced lenders handle collections.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Personal loans Vijay Shekhar Sharma Travel Job cuts Regulatory licenses Insurance Movie and event ticketing business PA-CB license Regulatory risks ONDC Annual sales Paytm Payments Bank Ltd Banking entity Cash backs Business Standard RBI regulatory action Deals Core strengths Licensed entities Open Network for Digital Commerce Non-core assets Paytm Decline in sales Distribution model Asset management Merchant base Digital commerce Cross-border payments Product distribution Licensed lenders Strategic partnerships Zomato Digital payments NBFC

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 11:39:40 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 382 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21407950

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