PAYTM, INDIA’S DIGITAL PAYMENT LEADER, IN ROUGH WATERS AMID REGULATORY CHALLENGES
New Delhi, India – Paytm made the backbone of digital payments in India, every nook and corner from a sea-side bead string seller to a peanut seller by the side of a children’s park, paytm reached almost everyone while India was innovating it’s currency notes via what is famously called “demonetization”.
It was a welcome step to eradicate many a devilish acts and Paytm supported small to big vendors by providing an easy to process digital payments.
Vijay Shekhar Sharma is one of the unique storyteller of his dream of developing a unique start-up rising from a very much middle class family known to most of the Indian professionals. We can relate to him.
What are anomalies in the system that caused Reserve Bank of India to ban Paytm? Are they beyond repair ? Is there a malefic intention to create those anomalies ?
Whatever the case is, if everything is fine except few technical regulatory guidelines, government should help such startup to solve the issues rather than suppressing and eradicating the whole system.
How India and it’s masses cope with sending a couple of entrepreneurs either to commit suicide or to fail miserably.
Similar is example of BYJU’s, the founder was simply a teacher who seems to scale his business on the advice of investors or financial experts. As perceived in public, such company ducked deep into the sand because of lack of knowledge of financial pits and legal loopholes.
There needs to be a grievance address as well as support system for such start-ups by tech-savvy but not business smart entrepreneurs.
In the preview of the start-up India movement started by our honorable PM and appreciated by almost everyone, I wish Paytm is helped by team of experts to come with a solution rather than a pre-mature death.
We canot keep create samples of once successful then doomed businesses except a couple of mega ones. That’s not in favor of startups
disclaimer : The author does not know paytm founder personally or professionally. This news is written from the perspective of a consumer and of a common citizen.
