Paytm has been growing rapidly ever since its inception. In 2010, Paytm came into the world with only two purposes. One, to recharge the prepaid mobiles and two, to pay the DTH bills. It was invested in by its founder Vijay Shekhar Sharma from Noida. It grew in popularity slowly and steadily and kept on adding features one after the other.
The next step for Paytm was the landline bills, data card and also postpaid mobiles, the year was 2013. In January 2014, came a feature that put Paytm on the map. It introduced Paytm wallet and partnered with the Indian Railways and Uber. They introduced Paytm as the payment option. The reason to call this a groundbreaking decision is because from August 2014 to August 2015, their user base rocketed from 11.8 million to a striking 104 million.
In 2015, it entered the already crowded market in the name of e-commerce. It provided online deals as well as bus ticketing services. In 2016, movie tickets, events, amusement parks, and even flight tickets could be booked via Paytm.
This history of introducing a new feature or features almost every year has made Paytm a $10 billion company. In 2017, they introduced another new thing in the name of Paytm Inbox. One could chat with their friends using Paytm Inbox and also request money if required. The One97 communications company then updated it further by providing a spam-proof SMS inbox.
This feature became quite popular among its loyal fan base and was used extensively. However, earlier this week Paytm withdrew the Paytm Inbox. Suddenly the feature disappeared from the app. It kind of irritated the users, although its founder has promised that it is temporary and the Inbox will return.
The reason for the withdrawal was that the code base wasn’t going to improve on scale and even if it was it would cost a fortune. It was a tough decision but Paytm Inbox is taken down for an upgrade and will make a comeback although no one is sure when.
This is the first time in Paytm’s history that it has withdrawn a feature popular or not. Even though it is for further development, it will be interesting to see how the users react and will there be a decline in any of the strong statistics that they represent.
– Unmesh Phule