With a huge population and its affinity towards the mobile / smartphones, India is one of the most attractive market for fintech disruption driven by increasing high speed internet penetration. Penetration of digital C2B [Consumer 2 Business] payments (cards, UPI, wallets) is expected to increase multi-fold to touch 1/3rd of the transactions by 2025. UPI payments are expected to grow at ~50% CAGR driven by UPI QR payments for merchants. Debit Cards & Credit cards are expected to grow at ~23% CAGR. Overall share of UPI is expected to increase 50-55% of digital payments by 2025, while cards would be 40-45%.
Sensing this opportunity a decade ago, Vijay Shekar Sharma ventured to found Paytm, the leading mobile payment platform with 150-200 Mn active users and 15+ Mn merchant having adopted the payments channel with 120,000 using its PoS terminals. Ambitions didn’t stop for Sharma backed by Venture capitalists such as Softbank, ANT Financials and