What it does: Paytm allows Indians to open a bank account, pay bills, recharge prepaid mobile, and more all in just one app.
Mission: Paytm’s goal is to enhance digital excellence, increase earning growth, and cross-selling opportunities.
Best known for: Paytm dominates India’s digital payments sector with more than 1.2 billion transactions per month.
Staff stats: more than 5,000 employees in India
Financials: INR31.89 billion in revenue for the fiscal year 2021
The good bits: Employees enjoy an attractive compensation package, especially for high performers. For instance, the company spent INR2.5 billion in 2020 on employee stock option plans.
The not-so-good bits: Paytm fires employees who are unable to meet annual performance metrics. In 2020, the company identified at least 500 low-performing employees.
Vijay Shekhar Sharma founded Paytm and launched it in 2009 initially as an online platform for recharging prepaid mobile. By 2016, the company became a full-fledged payment gateway where users can:
Paytm became the first digital payments app in India after gaining more than 100 million downloads in 2017. Its rapid expansion continued in 2018 by allowing Paytm users to pay for products and services at different merchants.
The company claims to have more than 20 million merchants that accept payments via Paytm. More than 300 million users in India use the app. Paytm’s future endeavors focus on bringing 500 million ‘unserved and underserved Indians to the mainstream economy.
Paytm expects its employees to meet or exceed annual performance metrics. Otherwise, they would need to leave the company. Each year, approximately 5% to 10% of Paytm’s workforce belongs to the low-performing group.
The company had to let go of up to 700 underperforming employees in 2020, after giving them two months to find work. Insiders claim that high expectations can drive everyone on edge.
Paytm’s domestic and international competitors include Flipkart, FreeCharge, MobiKwik, PayPal, and Wise.
In 2016, PayPal took Paytm to court over allegations of logo infringement. The U.S. company accused Paytm of copying its logo, due to similarities in color.
Paytm supported India’s COVID-19 relief efforts by collecting more than INR1 billion in contributions for the PM CARES fund. The company donated INR10 for every person’s in-app donation to the fund.
An estimated 1,200 employees also volunteered to contribute a part of their salaries. The company also provided 21,000 oxygen concentrators and set up oxygen plants in 13 cities.
Freshers should prepare for a challenging yet rewarding work environment at Paytm. The annual performance metrics should be taken seriously to avoid finding a new job elsewhere.
Despite a firm policy on performance, the company doesn’t immediately terminate low-performing employees. Selected candidates should look at Paytm’s high standards as a challenge instead of a looming threat to their jobs.
Paytm may take up to four weeks to hire the right candidates. The company’s general hiring process follows four steps.
The exam consists of 20 questions that should be answered within an hour. There are usually 18 aptitude and technical questions, as well as two coding questions.
Candidates need to answer questions such as finding the largest element from an unsorted array and expression evaluation.
Those who move on to this stage should prepare for questions about their current activities and projects. Be ready to highlight school accomplishments.
At this point, the company will evaluate a candidate’s personality. Paytm has done all tests and interviews via online channels like Google Meet.
Paytm offers internship and volunteering opportunities, although the company more frequently seeks professionals. Freshers can apply for jobs in these teams:
The company has several offices in Bangalore, Delhi, and Mumbai. Paytm likely offers fresher opportunities in Delhi, where it has more than 5,000 employees.
While Paytm has limited opportunities for students, those who perform well at the company can expect a robust benefits package:
The average salary at Paytm ranges from INR840,000 to INR2.1 million per year. Interns earn between INR5,000 and INR20,000 per month.