BENGALURU: Paytm, which is a popular mobile wallet firm, has taken a bold step and surprised the industry and its rivals. The company started as the mobile wallet service provider and gradually developed online shopping as well, but the latest news has a different story to tell on its futuristic plans.

Paytm has been providing both mobile wallet and the E-commerce services in a comprehensive single app. But as per the latest official announcement, the company will shortly hive the Mobile wallet services and would develop a newer app for it.

By this bold move the company is concentrating on the E-commerce sector to compete equally with the big-players like Flipkart and Amazon. On the other hand, the company has announced to develop a new app and is all set to promote it.

However, the current version of the app will continue to offer the all-inclusive services and the company will soon start to popularize the new app that is going be launched solely for mobile wallet transactions.

Initially, Paytm gained a huge success and attracted huge number of registered customer database. Similarly, as per the prediction the company acquired more than 100 million customers through its mobile wallet service; hence by ignoring the risk factor it is now planning incline its shopping sector.

Founder of Paytm, Vijay Shekhar Sharma said "Paytm is the default payments app for many and its use case needs to be simplified even as we as a company expand our horizon by adding commerce. By this method, we can make both users happy. The apps are getting heavier and slower. What if consumers don't want most of the new features. Downloading a new app is not a big deal now. This is customization according to customer requirements."

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