Back To Basics: Paytm's Focus Is Payments And Distribution

Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders.

- AJINKYA KAWALE

Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.

Paytm did not comment on the specific verticals Sharma is directly overseeing. His return to day-to-day operations comes after multiple senior-level exits in the past few weeks. In May, Bhavesh Gupta, president and chief operating officer (COO) of Paytm, resigned citing personal reasons. Before that, there were others who quit including Paytm Payments Bank's managing director and CEO Surinder Chawla. One97 Communications (OCL), the company that operates Pay trying to regain the lost ground doubling down its focus on pay and adopting a distribution-fir approach for financial services.

Sharma is banking on the te and a distribution network that built over a period of 14 years.

"We will do what our partne interested in. Our technology a distribution becomes our moat analysts, after the firm's Q4FY2 results.

This is also evident in the re decision of the firm to withdraw application for registration as a insurance company. Instead, it focus on the insurance distribu portfolio built by Paytm Insura Broking Private Limited.