Paytm, India’s fastest growing e-payment platform, based out of Noida, is all set to expand its offerings in education services by building an ecosystem to attend to the requirements of students and government job aspirants, cited ET.
“We want to enable the student and parent community to know in advance what they should do to build their career. Right from providing details on 25,000 colleges, courses and exams, our bouquet of services will include – payments (in-app and in educational centres), commerce (coaching, scholarships, test preparation, admission forms etc.) and financial services (student insurance, educational loans, banking),” Vineet Kaul, senior vice president at Paytm, said.
Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India. Tencent, on the other hand, is a Chinese conglomerate, founded in 1998. It’s subsidiaries specialise in various internet-related services and products, entertainment, artificial intelligence and technology both in China and globally.
It is working with private and government educational institutions to offer admission forms, exam results, applications for Government jobs, coaching and test preparations.
The company will also offer financial services like educational insurance, loans and co branded smart cards to students.
Some of the prominent players in the Indian market includes Fircent, LenDenClub, IndiaMoneyMart, Monexo, LoanBaba, CapZest, and i2iFunding.