Digital payment company Paytm has a new office in Bengaluru. After establishing the first one at HSR Layout and second at Bannerghatta Road, their third and new office is located at Koramangala, which is a hub of start-ups in the city. This marks Paytm’s presence in Bengaluru to be its second largest after Mumbai.
While reasoning on the location chosen in Bengaluru for their third office, Abhishek Rajan, Head of travel Marketplace-Paytm, said, “This place was chosen on more of a start-up perspective since a lot of start-ups are present in this area and also based on the convenience of our employees. It makes travel and leisure much easier for them.”
By setting up pool tables and open cabins in this new office as well, Paytm has again proved to be a more employee focussed organization.
“While entering Bengaluru, Paytm was an organisation of about 10-15 people and now we have grown to about 150. Looking at the way we are growing, we can have many more people here in about 2-3 years,” added Rajan when asked about further expansion plans in Bengaluru.
Recently, plans were also announced of hiring about 2000 people for Paytm overall. Rajan clarified saying these new hires will be more from the sales perspective who will go around and help shopkeepers and others set up their Paytm accounts and use it efficiently.
When asked about the hacks and other issues that the Paytm users were seen complaining about recently, Rajan said, “The number of users had increased rapidly and the software could not handle this. There was delay in getting the money transferred to and from the banks, leading to this inconvenience.”
Speaking about demonetisation and it’s affects, Rajan said, “Demonetisation helped in growing awareness of Paytm. A lot many people became aware that such an app exists and began using it. Scores of people were compelled to try it out. Not all places have cards and cash wasn’t easily available, this too helped us grow. Although we had rolled out the QR code before, this (demonetisation) helped us strike bigger.”
Commenting on the tough competition that is now being given by banks that are now bringing out user friendly apps, Rajan said, “Whatever Paytm did, the banks are now forced to do this in order to help build this cashless economy. Moreover, competition will help us become more and more innovative, which will only help us grow.”