Paytm was launched by Vijay Shekhar Sharma in 2010 as a prepaid mobile recharge facility, and later in 2014, the Paytm wallet was launched. The name Paytm is an acronym for "pay through mobile."
Paytm's goal is to create a cashless and digital economy. The company experienced success after the 2016 demonetization, when the Indian government removed the 500 and 1000 rupee notes.
Paytm has since diversified into e-commerce, insurance, and wealth management. It has over 450 million users. In 2021, Paytm conducted India's largest Initial Public Offering (IPO).