Popular Indian e-wallet, Paytm has become a case study at the Indian Research Center of the prestigious Harvard Business School. The business model and progress of Paytm will become the part of the curriculum at the research center.
The case study has been titled 'Paytm: Building a Payments Network'. The objective of the case study is to focus on the expansion of the company from an online recharge forum to one of India’s largest mobile payment methods.
The focus of the case study will be to highlight the fact that Paytm’s priority was enabling offline payments for micro business purposes using smartphones and QR codes. Also, the study will focus on how this idea has impacted the payments ecosystem in India.
The case study is currently being published and will soon be available for educational purposes at Harvard and outside as well.
Founder and CEO of Paytm, Vijay Shekhar Sharma said that their aim is to connect half a billion Indians with the mainstream economy. He also added that digital payments have been accepted on a large scale by the citizens very recently. Sharma is hopeful that this will continue to be a part of financial inclusion. Becoming a part of the curriculum of Harvard is a privilege, he added.
Sunil Gupta, Professor, Harvard Business School, said that Paytm is an essential part of the digitization of payment process in India. Over three million merchants in India have now accepted Paytm along with 185 million registered wallet users.
Paytm will soon be launching Payments Bank that will aim at providing financial inclusion with accounts, insurances, loans and other similar financial services.