There is no denying the fact that one of the biggest beneficiaries of demonetization of all the old currency i.e 500 and 1000 rs notes has been e-wallet company PayTM. Lack of physical cash led people to transfer money using e-wallets and PayTM was most well-known service at the time, giving its CEO Vijay Shekhar Sharma much cause to celebrate. After demonetization of notes, people started using the paytm money. They started paying their mobile bills, electricity bills, etc through their paytm wallets as it was very difficult to withdraw money from the atm machines.
The picture is from PayTM’s annual party Revolution 2017 that was recently held with singer Raftaar as the performer. An extremely elated Vijay Shekhar Sharma can be seen jumping and shouting on stage about how successful PayTM is and how well it’s doing. He is so pumped and motivating his team. The outspoken founder of India’s largest mobile wallet app paytm, has become a talking point in the nation. The usually polite and very down to earth CEO Vijay Shekhar Sharma was seen pumped in the stage and everyone was so surprised as he also used abusive language to address the competition.
In the last year 2016, the company had reportedly recorded more than 1 billion of transactions and after demonetization of notes, the company added more than 80 million of the customer base. The company is now also registered over 300 % growth in offline store transactions within six days of Prime Minister Narendra Modi’s announcement.
“Jo hamare saath nahi hai vo royenge. Ek saal vo kiya jo unhone 10 saal main nahi kr paye. 2017 year will be all ours. Kaise nahi hoga (Those who are not with us will cry. We did it in one year what others couldn’t do in 10 years. 2017 year will be all ours. How can it not be?)” said an over-excited Sharma during the event. He also mentioned that, “Humne kuch socha, humne kuch socha, humne kuch socha, aur saala doosron ki pant geeli nahi hui to kya socha? (If We thought of something, but if it doesn’t cause our competition to wet their pants, have we thought at all?)”.
The company Paytm is funded by the Chinese company Alibaba and that company faced a lot of backlash for an advertisement and it had brought out right after the demonetization of the notes move.