Paytm Plans To Hire Over 20,000 Field Sales Executives

• ByStartupStory     |    July 28, 2021

Ahead of its initial public offering (IPO), Paytm is recruiting over 20,000 field sales executives across the country. The move has come by this Fintech company against the backdrop of stiff competition from several rivals, including PhonePe and Google Pay. Each recruit will have an earning potential of around Rs. 35,000 every month and will be used to promote Paytm’s entire portfolio including QR codes, POS machines, Paytm Soundbox as well as other products across the company’s ecosystem, such as wallet, Paytm Postpaid, UPI, merchant loans and insurance offerings, sources said. While a Paytm spokesperson didn’t say comment on the matter, the Noida-headquartered digital payments major has recently launched its field sales executive programme, with an aim to provide employment opportunities to undergraduates.

The company is seeking to launch its Rs. 16,600 crore IPO by October. As of May, Paytm had around 11% market share in UPI transactions, while PhonePe had 45% followed by Google Pay with 35%, data from NPCI. According to the draft prospectus which it filed earlier this month, Paytm, which was last valued at $16 billion, said it will use Rs. 4,300 crore of IPO proceeds to acquire consumers and merchants. 

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