The founder of Paytm, Vijay Shekhar Sharma, has said Paytm Payment Bank could be a new banking model in the world. “Our bank will be built around a services- and transaction-based revenue model. We are looking forward to starting (the payments bank) in the next few months,” he said in an interview to The Economic Times.
Regarding the delay in launching Paytm Payment Bank, he said it took time to arrange capital investment and now they were excited about the new opportunity. “We are very excited at the opportunity and have ambitious plans to bring very large CASA (current account & savings account) user base to Paytm Payment Bank,” he said.
Sharma also plans to launch their services on feature phones using call and SMS. This plan is to address the non-smartphone population in India.