Paytm sees no impact of lowering of UPI incentives on path to profitability

Fintech firm One97 Communications, which owns Paytm brand, sees no impact of lower incentives earmarked by the government in the budget for promoting small ticket digital transactions, a top official of the company said.

Speaking on the sidelines of launching "Card NFC Soundbox" machine, Paytm CEO Vijay Shekhar Sharma denied any impact of lower allocation of incentives to promote small ticket digital transactions on his guidance over profitability this fiscal year.

"We remain committed to doing the same (achieve a profitable quarter in this fiscal) because we already said without UPI incentive," Sharma said.

The government has lowered incentive allocation for Rupay and UPI transactions by about 42 per cent in the budget.

Sharma during the company's earning call had given guidance to achieve a profitable quarter during the current fiscal.

"My team and we are also committed to making sure that we go back to profitable quarters very, very soon. We are hoping and working on making sur