Vijay Shekhar Sharma, founder, Paytm said he’s looking to embrace digital transformation and leveraging fintech solutions to enhance competitiveness, optimise operations, and unlock new growth opportunities for businesses.On the digital payment front, Sharma said during Covid era, it was commercial model that got accelerated apart from retail transactions facility. “We have around 7 million devices through which merchants make payments now. Paytm’s soundbox got popularised during that time,” he said.”We bought T=0 real time transaction facility where the settlement of funds is being done on real time, with no charges or any deductions. What you pay, you get and that’s how digital payment system got revolutionised,” Sharma added.He was in conversation with Saket Dalmia, President of PHDCCI, at an event in New Delhi.Sharma shared insights on challenges faced, strategies employed, and the immense impact of startups on the traditional economy. He said the new-age businesses, startups and their integration can be a game-changer for India’s startup/fintech ecosystem.He also talked about his revolutionary journey in the startup sector and how he built Paytm and has transformed traditional approaches and empowered millions.He further said that traditional model of business shouldn’t get diluted while developing tech-enabled companies.”During Covid, we also started small credit line business where we lend around Rs 4,100 only. Since the loan tenure was low so the ticket size was too,” said Sharma.On the digital security front, he said financial services industry is always vulnerable to fraudsters but Paytm has built a robust risk management system.”Before building a model, you should think whether your mom will be able to use it,” he said.Sharma advised students to first work for two-three years before starting a firm after graduating. “Understand businesses first before starting a business,” he said, adding that he raised money from almost all the richest people across the globe taking Paytm to its height.

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