Speaking of Paytm, which holds a 15 to 20% of mobile payment...

Speaking of Paytm, which holds a 15 to 20% of mobile payment market, it is still struggling to make a profit despite $650 million revenue in 2023. The company reported a loss of $230 million

"Net Loss: Despite the increase in revenue, Paytm faced a net loss of ₹1,781 crore (around $220 million) for FY 2023. The company has struggled to turn a profit due to high operating costs, marketing expenses, and significant investments in technology and business expansion." I just wonder how much they bribe to politician to stay in business.

As of Paytm's fiscal year 2023 (ending March 2023):

Revenue:

• Total Revenue: Paytm reported a revenue of approximately ₹5,400 crore (around $650 million) for the fiscal year 2023, which was an increase compared to previous years.

• Revenue Segments: A large portion of Paytm's revenue comes from its Payment Services (including payment processing fees and wallet charges), but they are also diversifying into Financial Services (loans, insurance, etc.) and Commerce (e-commerce via Paytm Mall).

Profit/Loss:

• Net Loss: Despite the increase in revenue, Paytm faced a net loss of ₹1,781 crore (around $220 million) for FY 2023. The company has struggled to turn a profit due to high operating costs, marketing expenses, and significant investments in technology and business expansion.

• Focus on Profitability: Paytm has made efforts to improve its profitability by reducing losses and increasing its revenue from financial services, including lending, insurance, and wealth management.