In an exclusive interview with BW Businessworld, Paytm founder Vijay Shekhar Sharma talks about his reaction to demonetisation and his dream of a digital India
While the entire country is moving towards a more digitally stable India, with more and more people coming on board with digitized India. Paytm founder Vijay Shekhar Sharma still believes his dream of a digital India is still far away. In an exclusive interview with BW Businessworld, he talks about his reaction to demonetisation, his dream of a digital India and what is the way forward now.
What was your first reaction when you heard the news about demonetisation?
Well as we all know it was really abrupt , I was in Mumbai at the time. I didn’t even know what it meant precisely. So we called up people in our office to really figure out what is going on. After I had an idea of what had happened, I was happy, I felt that now is the time when payment led technology will be at an all-time boom. I quote that as a golden moment in this country’s financial space that was the starting point for all of us.
Was it like a dream come true overnight?
I think my dream will come true when India becomes more significantly digital savvy, it is a bi product of what I see in the long run. I am really excited about the kind of push that the government is giving to the idea of digital. The dream will come true when 40-45 per cent of the transactions will be via digital mode of payments.
Do you think Paytm is the digital revolution in India?
Well I think right now we are trying to do something in the digital space calling it a digital revolution is a way too big word. Right now we need to focus more on how to get the maximum transactions digital.
What do you think is the way forward from here?
Well we at the moment are trying to build a financial services vertical for us and that is where the focus is. We definitely want to be a big player. The way forward from here is from payment , to deposits to financial services.
Do you believe in the forthcoming digital revolution in this country?
I truly believe in digital revolution. I believe when everything is digital, it is more empowering and goes forward.