Paytm just disrupted the way entrepreneurs do business

Paytm has announced its plans to bring every big and small merchant in India on its platform, where any merchant with a Paytm app can transact up to Rs 50,000 monthly by self declaring himself as a businessman.

Paytm’s Vijay Shekhar Sharma said, "We expect to add 15 lakh merchants on paytm by the end of this week."

Currently, they already have 15 lakh merchants on their platform.

The process is simple and is done in 4 steps with the merchant going on 'accept payments' on the top right of the app and then going on to fill the card details of the customer trying to make the payment.

The entire process will take less than 5 minutes. However, if Rs 50,000 was feeling limited for a merchant, he can get rid of any limits through signing up with Paytm as a full time merchant on the platform. Once a full time merchant, there are no limits to transactions.

No fees will be charged from merchants up to 31st December 2016 after self declaration.

As far as security is concerned, none of the details of their bank accounts or card details will ever be saved with the merchant.

Here are some other interesting details about what Paytm has been up to this year-
-Cities where Paytm is used the maximum are Hyderabad & Chennai with as many as 4 transactions a day on average up from 4 transactions a week from a few weeks ago

- In the top 50 cities, this figure is 3 transactions a day on an average

- The most transacted items on Paytm are Groceries, QSR and local transport

- Paytm's annual marketing budget is Rs 500-600 cr

-Since demonetization, the monthly spend has gone 3x for November

- In 2015-16, Paytm spent Rs 2546 crore on marketing
- On the Payment platform- credit card fees will be 2%

- Paytm incurred a loss of Rs 1500 crore in 2015-16 and made about Rs 1000 crore in revenue having spent Rs 2500 crore in investments