In order to shun the competition Paytm is betting big on local expertise in order to fuel business growth and fight off global rivals in a rapidly growing market as reported with leading media agencies. 

 

"The fight is no more about one company, it is about ecosystem players," Vijay Shekhar Sharma, founder of Paytm's parent One97 Communications, told Reuters in an interview with leading media companies. 

"If you have a standalone payments company, you definitely have an opportunity in the market. But there is a bigger game being played in the ecosystem level - there the revenue gets made or the value gets created," Sharma in an exclusive interview with leading media groups. 

 

Paytm which has investments from Alibaba Group and SoftBank Group Corp among its investors, is transforming into a financial services start-up with forays in banking, mutual funds and later insurance. Sharma has also started an e-commerce venture, on which payments are driven by Paytm.