NEW DELHI: Vijay Shekhar Sharma, the founder and CEO of fintech firm Paytm, on Thursday said he wants to make Paytm a market leader in Asia.
“Asia has an opportunity to build a financial system for the next generation…Make Paytm an Asia leader — in my lifetime, I would like to do that,” said Sharma at a conference in Tokyo. This was Sharma’s first public appearance following the RBI clampdown on Paytm Payments Bank in January. In February, he stepped down from the board of Paytm Payments Bank.
Despite facing regulatory challenges in home country for the past few years now, Sharma remains optimistic about the future of his fintech company. He said it is important to address challenges personally rather than relying on advice from teammates or advisors.
“The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct. And it is important for you, yourself to be taking care of it versus just letting a teammate or an adviser suggest that what should it be,” said Sharma as quoted in a report.
Sharma outlined strategies to navigate the challenges, including forging new bank partnerships and expanding into other Asian markets. In late January, RBI barred Paytm Payments Bank from taking new or top-up deposits in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024 owing to non-compliance.