Paytm focusing on consumer payments business: CEO Vijay Shekhar Sharma

Fintech firm Paytm's immediate priority is to invest in its consumer payments business in an effort to recover lost user base following regulatory actions by the RBI, a top company official said on Sunday.

The RBI had restricted Paytm Payments Bank from accepting deposits or facilitating credit transactions in customer accounts, including prepaid instruments and wallets.

In August, Paytm sold its ticketing business to foodtech company Zomato for Rs 2,048 crore to sharpen its focus on core operations payments and financial services distribution.

"Payments remain our primary business, and the merchant side continues to be strong. However, we lost a significant consumer base due to regulatory constraints. Moving forward, we aim to reinvest in the consumer payments business area," Paytm CEO Vijay Shekhar Sharma said during an interactive session organised by the Calcutta Chapter of Young Indians, the youth wing of the Confederation of Indian Industry (CII).

Consumer payments encompass