There is no denying the fact that one of the biggest beneficiaries of demonetisation of old currency notes of Rs 500 and Rs 1,000 has been e-wallet company PayTM. Lack of physical cash led people to transfer money using e-wallets and PayTM was most well-known service at the time, giving its CEO Vijay Shekhar Sharma much cause to celebrate.
And celebrate he did – as is evident in a video of the company’s annual party that’s doing the rounds on social media. The video is from PayTM’s annual party Revolution 2017 that was recently held with singer Raftaar as performer. An extremely elated Sharma can be seen jumping and shouting on stage about how successful PayTM is and how well it’s doing.
In 2016, the company had reportedly recorded 1 billion transactions and after demonetisation, it added 80 million users to its customer base. The company also registered over 300 per cent growth in offline store transactions within six days of Prime Minister Narendra Modi’s announcement.
“Jo hamare saath nahin hai vo royenge. Ek saal vo kiya jo unhone 10 saal main nahin kiya. 2017 will be ours. Kaise nahin hoga (Those not with us will cry. We did in one year what others couldn’t do in 10 years. 2017 will be ours. How can it not be?)” said an over-excited Sharma during the event. “Humne kuch socha, humne kuch socha, humne kuch socha, aur saala doosron ki pant geeli nahin hui to kya socha? (We thought of something, but if it doesn’t cause our competition to wet their pants, have we thought at all?),” he added.
PayTM is funded by a Chinese company Alibaba and the company faced a lot of backlash for an advertisement it had brought out right after the demonetisation move.