PayTM stands for Pay Through Mobile. One of the Indian based successful companies. It became India's first 100 million user product back in 2015.  

Information Technology sector in India is making progress at rates way beyond what was expected 30 years back. The new India is tech-savvy and everyone in the country wants the best and most optimized strategies for their self commerce.

The huge growth in PayTM’s revenue came post demonetization when currency notes of ` 500 and ` 1000 were barred and 86% of the currency in the country was drawn out of circulation, due to the government’s inability to bring adequate cash back into circulation people were thus forced to resort to e-wallets.

References:

http://www.ijert.org

https://www.paytmbank.com/blog/2019/08/kyc-based-restriction-on-paytm-wallet/