India digital payments brand Paytm is set to invest Rs.750 crore to double its monthly active user base on mobile to 250 million by March 2020.
Backed by global internet giants Alibaba and SoftBank, Paytm will further roll out content, news, short videos, and live television on its app by September this year.
Deepak Abbot, Sr. Vice President, Paytm said: “We are already seeing 27 million monthly active users on Paytm Inbox. Now that we are upgrading it to the next level with innovative use of the content, we hope to get around 60 to 70 million new users of the app. Our target is to have 250 million monthly active users this year.
“We have registered 100 per cent quarter-on-quarter growth for Paytm Inbox which offers content services and in a very short period Paytm First Games has also become a popular gaming destination,”