How To Build App Like Paytm: Paytm Clone & Development Cost

Payment Through Mobile or Paytm as it is commonly known, is an Indian enterprise that deals in payments, ecommerce and e-wallets. The company was founded in August 2010 by Vijay Shekhar Sharma with an investment of $2 million. Paytm has experienced immense growth and generated revenue of $460 million in FY 2020.

If you also want to launch an app like Paytm, you are at the right place. Here you will find answers to questions including:

  • How to create app like Paytm?
  • What components you should consider to build app like Paytm?
  • How much does it cost to develop app like Paytm?

But before answering these questions, it is first important to understand Paytm business model and how does Paytm earn.

Paytm Business Model: How Does An App Like Paytm Earn?

Paytm was first launched as a recharge platform for prepaid mobile and DTH. However, it soon expanded its services in 2013 to include data card, postpaid mobile, and landline bill payments. Rising up swiftly, Paytm became first ever payments app in India to cross 100 million app downloads.

Here is a look back at the success story of Paytm:

Paytm Growth Timeline

Paytm Growth Timeline

Over the years, Paytm has launched multiple services to venture into diverse industries. Here is a list of Paytm services:

  • Paytm Wallet
  • Paytm Mall
  • Paytm QR Code
  • Paytm Gold
  • Paytm Payments Bank
  • Paytm For Business
  • Paytm Money
  • Paytm First
  • Paytm First Credit Card


With its immense growth, Paytm has come to the forefront of innovation by providing diverse services. This has attracted great interest from entrepreneurs to launch an app like Paytm. This has naturally directed attention towards Paytm business model.

Paytm Business Model

Image Source: Business Strategy Hub

Here is an insight into different components of Paytm business model to help you develop app like Paytm:

  • Key Activities Of Paytm: The key activity of Paytm is to allow easy money transfer. It now allows other activities such as banking and purchase of gold as well. Being a technology based platform, it may be prone to frauds. So, other key activities of Paytm include employing effective security measures to ensure protection of customer’s money.
  • Paytm Customer Segments: Target customer base of Paytm consists of mobile users who are looking for an easy to access digital payments and ewallet. Paytm offered a secure solution and better alternative to digital bank accounts by including multiple features and rewards.
  • Value Propositions Of Paytm: Paytm offers great value to its customers through multiple service verticals including recharge services, Paytm wallet, Paytm mall (ecommerce vertical), and Paytm Gold.
  • Paytm Channels: Paytm earns its revenue from three different channels; namely Paytm website or Paytm app, clicks from vendor sites that sponsor Paytm, and client sites that have partnered with Paytm.
  • Key Paytm Resources: Paytm has received RBI license which acts as the major key resource for Paytm. Other than that Paytm’s technology platform and its partners that facilitate easy use by people including lower-income population.
  • Key Partners Of Paytm: Key partners of Paytm can be classified into two major groups: the first one being the partner organizations that use Paytm services to collect bills and payments from their customers and second being the banks that offer escrow services as well as payment gateways into the banking system to Paytm.
  • Cost Structure Of Paytm Business Model: Paytm business is highly customer oriented. So a large portion of cost structure is targeted at customer acquisition and its technological platform. Security takes the second major share of Paytm budget especially when the company has to manage over 65 million customers. The security budget is focused on creating a platform that can enable its customers to prevent money laundering risks.
  • Paytm Revenue Streams: Paytm revenue model has four major revenue streams; money earned from its ecommerce platform, money earned from Paytm gold, commissions from customer transactions made from its platform, and escrow accounts.

How Does Paytm Earn?

The core concept of every business is to earn money or generate revenue. Paytm earns revenue from different streams:

How Does Paytm Earn

Paytm Revenue Channels

  • Paytm Mall: Paytm became the pioneer of mobile only marketplace in India by introducing Paytm mall and has grown upto over 120 million buyers with approximately 2 million daily transactions. Paytm mall is highly beneficial for sellers as it attracts high consumer base to its wide range of products including shoes, clothes, etc. with secure payment integration.
  • Recharge Services: Recharge services were the introductory services of Paytm when it was founded in 2010. Although it has extended recharge services from mobile and DTH recharge to mobile subscriptions, data card, TV subscriptions, metro card recharge, etc. Paytm charges 2-3% commission per recharge from the operators to earn its revenue. It offers cash-back offers to its consumers to ensure a repeat transaction by the customer for future recharge needs.
  • Bill Payment: Bill payments made by the customers using Paytm are also a great source of revenue generation for Paytm. Paytm has partnered with multiple education and financial organizations to act as a portal for accepting fees, EMI or insurance installments for these organizations. Customers can also pay their bills such as electricity, gas, water, telephone, broadband, etc. Paytm generates its revenue by charging a commission from partner organizations on every bill payment.
  • Payment Solutions: Paytm has partnered with numerous online businesses, ecommerce solutions, and marketplaces to act as a secure payment solution for their customers. The businesses can use Paytm payment solutions to accept online payments and do not have to pay any setup or maintenance fees. However, Paytm charges a commission of 1.99% per transaction.
  • Paytm Wallet: Paytm wallet is RBI approved semi-closed wallet which can be used by customers to store digital currency to make online transactions. Paytm deposits the money stored by its customers in their wallet in escrow accounts in partner banks and earn interest on these deposits.

In addition to these revenue channels, Paytm also generates revenue from Paytm Gold and Paytm bank.

The numerous revenue channels of Paytm and high revenue generated by Paytm attract many entrepreneurs who want to develop an app like Paytm.

How To Create App Like Paytm?

In order to build an app like Paytm, you need to research on key features of payment app like Paytm. Your app like Paytm should offer multiple uses to your customers such as:

  • Your Paytm like app should offer an easy but secure recharge alternative for mobiles, DTH, TV card, etc.
  • Allow your users to book tickets for bus, train, movie, flights, fairs, etc. in a secure way.
  • The Paytm clone app should act as a better alternative to net banking, debit/credit cards and other online payment wallets available in the market.
  • Offer a simple platform allowing your users to integrate other payment alternatives.
  • Provide your customers a secure way to make transactions at online and offline shopping portals for purchasing electrical appliances, home appliances, items of daily use, etc.

When building app like Paytm, consider following components to ensure proper functioning of your Paytm like app:

  • A Feature Loaded User Panel: During Paytm like app development, offer a user panel including features that allow easy user registration, bank account linking, adding money, funds transfer, receiving of funds, transaction history, bill payments, ticket booking, available offers, refer to friend options, and choice of multiple languages.
  • Intuitive Admin Panel: The admin panel of your Paytm like app should allow you to manage user profiles, release new offers, access to real time analytics & reporting, push notifications, add/remove features, manage merchants, etc.
  • Additional Features: To ensure extensive functionality of your app like Paytm, add features including QR code, in-app camera, credit card, data synchronization, geo-location, loyalty program, cloud operations, and digital receipt.

How much does it cost to develop app like Paytm?

The cost of building an app like Paytm or a Paytm Clone is governed by numerous factors such as basic features, admin panel, advance features, access control, app design, app interaction, app platform, app size, and external features.

Don’t get fooled by claims such as Paytm Clone development in 24 hours, because it takes time to build fully functional app like Paytm. Development time is also a governing factor in development cost.

However, there is an affordable alternative! Code Brew Labs offers ready-to-use base solutions with flexibility to customize and build your Paytm-like app at a fraction of cost. The ready-to-use base solutions reduce the development time and development cost while ensuring complete technology stack and features.

Do you want exact quote for Paytm-like app development or want to know more details on building app like Paytm with advanced features? We have answers to all your business needs and it is just a click away. Let’s connect now!

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August 9, 2021



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