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Paytm is betting on youth population to hit profit sooner

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Paytm CEO Sets Timeline to Become Profitable Again – Will He Deliver This  Time?
  1. Paytm plans a significant revamp of its online wealth management services and intends to recruit over 50,000 sales staff to expand its merchant network, aiming for earlier profitability.
  2. CEO is pushing his 10,000-strong technology, product and engineering teams to use Microsoft Corp. and Google AI tools, which has helped Paytm narrow product development to just days from weeks.
  3. Vijay Shekhar Sharma, Paytm’s CEO, seeks to reform the suite of financial management products to better engage with younger users, capitalizing on their inclination towards online investing.
  4. Sharma aims to achieve an operating profit in less than a year, attributing this goal to the combined efforts of wealth management initiatives, expanding the merchant base, and leveraging AI automation for cost savings.
  5. Paytm aims to increase its merchant base to approximately 50 million from the current 38 million. Nearly 10 million of these merchants currently use Paytm’s paid services like QR codes, Soundboxes, and card machines.

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