New Delhi: The founder and CEO of the largest fintech brand in India Paytm, Vijay Shekhar Sharma has been hitting the headlines again, due to his attempts at reviving the company after a difficult time of regulations.
During the last year, Paytm was struggling with the issues connected with its Payments Bank licence and tighter regulations of financial authorities. This added ambiguity to the market and even hostile feelings by the investors. Nevertheless, Sharma has been reshaping the lending and financial services business of the company to ensure more stable growth.
In the recent past, Paytm has announced the addition of new features in its app in terms of lending, credit rating and merchant business tools. Such actions demonstrate that not only is Sharma attempting to shake off past regulatory problems but is also positioning Paytm to be in a better place to compete in the fintech sector.
The scandal that has been experienced by the company is largely associated with previous compliance issues and doubts on profitability in the long term. There are industry observers who questioned whether Paytm will be able to scale its growth in a progressively more regulated world.
The supporters of Sharma however are hopeful that the turn around plan with its lending, merchant solutions and partnerships orientation will see the company recovering its investor confidence and market share. They observe further that the digital payment and lending business in India is on an upward trend, and Paytm has extensive penetration in the market.
