Paytm after capturing the top spot amongst Indian's online wallets, well mostly due to the demonetization exercise carried out by the Indian government and the Digital India scheme, has now attracted the attention of the prestigious Harvard Business School.
In essence, Paytm's journey from being just a mere online recharge platform to building India's largest mobile payments platform has been selected as a case study by the India Research Centre of the Harvard Business School.
Titled as 'Paytm: Building a payments network', the study will be available for teaching purposes within and outside Harvard. The case study extensively captures Paytm's transformation within the last 3 years.
However, the amount of surge in the registration and the profit margin that Paytm has generated is surely noteworthy. While much of it can be attributed to the invalidation of the Indian currency and the push towards digital payments, Paytm has outpaced everyone in the game and has achieved a significant spot in India.
Commenting on the success of Paytm, Professor Sunil Gupta, one of the authors of the study and Edward W. Carter Professor of Business Administration and Chair of the General Management Program at HBS said, "Paytm is revolutionizing payments in India and it is a shining example of India's digital future."
Meanwhile, Vijay Shekhar Sharma, CEO of Paytm, stated, "We are on a mission to bring half a billion Indians to the mainstream economy and in turn build a business that India would be proud of. For us, the journey to enable fellow countrymen with digital payments and become a part of financial inclusion has only started right now. It is truly a privilege to have it become a part of the curriculum offered by the prestigious institute."