Paytm to onboard over 20,000 sales staff before bumper IPO: Report

As its Rs 16,600-cr IPO approaches, India's fintech giant Paytm is hiring over 20,000 field sales staff in the country, according to a report by Times of India.

Prepping for cut-throat competition by rivals Google Pay and PhonePe, the Noida-based company recently launched its field sales executive programme to hire undergraduates.

The new executives can expect to earn close to Rs 35,000 per month, and their job description entails promoting Paytm's portfolio including QR codes and POS machines among other products like Paytm Postpaid, merchant loans and UPI.

The company is pushing its payments hardware such as point-of-sale machines and other devices to merchants, the source said, adding Paytm's software, which helps merchants manage their operations, would also be a key business over the next three to five years.

NCPI data shows that Paytm currently holds 11 per cent market share in UPI transactions, while PhonePe rules with 45 per cent share, followed by Google Pay with 35 per cent share.

Among other rivals, Paytm's merchant payments business will also compete with a combine of Reliance and Facebook's WhatsApp, which have committed to making digital payments easier for India's mom-and-pop stores.

(With agency inputs)