Paytm shifts focus to consumer payments, sells ticketing business to Zomato amid regulatory restrictions.

Paytm's CEO, Vijay Shekhar Sharma, announced the company's focus on revitalizing its consumer payments business after regulatory restrictions from the Reserve Bank of India impacted operations. Paytm Payments Bank was barred from accepting deposits and facilitating credit transactions. To enhance its core services, Paytm sold its ticketing business to Zomato. While monthly transactional users decreased, merchant numbers grew significantly, indicating a strategic shift towards Third-Party Application Provider (TPAP) models.

October 06, 2024
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