It is an exciting time for the young entrepreneurs to embark on their dream journey. Paytm has partnered with over 50 startup accelerators, coworking spaces, and incubators across India.
This comes in line with Prime Minister Narendra Modi’s commitment to promote the Startup India initiative.
Paytm is gearing up to facilitate India’s startup ecosystem by extending its Wallet and payment gateway services to early-stage startups for free; for six months with no initial set up fees, zero transaction fees, and zero annual maintenance charges, through this initiative. Paytm aims to support over 1,000 startups in the coming year.
The company will also offer developer support for integration of APIs and SDKs. This will enable young entrepreneurs access to scalable payment solutions.
Vijay Shekhar Sharma, founder and CEO – Paytm said, “Innovation often faces hurdles at an early stage due to the lack of quality technical and support systems. This initiative will enable the industry leaders of tomorrow to avail the benefits of our services and achieve their true potential. Our aim is to make India a powerhouse of innovation, and we at Paytm are enablers in this journey.”
The company has partnered with more than 50 startup ecosystem players including Microsoft Accelerator, NASSCOM, Amity Innovation Incubator, Tlabs, 91Springboard, Zone Startups, Innov8, and Jarvis Accelerators. With this initiative, it aims to organise an innovation drive in the country.
Amitabh Kant, CEO of NITI Aayog said, “India is buzzing with incredible entrepreneurial vibrancy thanks to our young startup community and our spirit of innovation. This wave of dynamism and disruption must continue if India is to emerge as one of the biggest innovation hubs in the world. Critical private company initiatives such as this will help our startup ecosystem accelerate, and give a boost to Startup India, as government facilitates a smooth passage for our young entrepreneurs”
Paytm currently holds 50 Mn wallets, extending its services to 60 Mn transactions every month. Founded in 2011 by Vijay Shekhar Sharma, Paytm is an mcommerce and payments platform. The company recently restructured its online retail business by incorporating e-commerce Pvt. Ltd. The company’s financial services arm, Paytm’s payments bank is ready to go operational by October this year.