Startups

Vijay Shekhar Sharma and Paytm: Turning a Setback into a Revolution

Reyansh Oswal

31 Dec 2025 — 1 min read

Vijay Shekhar Sharma’s journey began in a small town in Uttar Pradesh, where access to technology was limited but ambition was not. Coming from a humble background, Vijay faced financial struggles early in life. Yet, his love for computers, coding, and problem solving pushed him forward.

In 2010, after an earlier startup failed, Vijay refused to quit. Instead, he started Paytm with a simple idea. Make mobile recharges easy. At that time, digital payments were rare in India, and trust in online transactions was even rarer. But Vijay believed that India would eventually move towards cashless convenience.

Paytm slowly expanded from recharges to bill payments, wallets, and online shopping. The real turning point came in 2016 during demonetisation. Overnight, millions of Indians needed a digital alternative to cash. Paytm was ready. QR codes appeared everywhere, from big stores to roadside tea stalls. Paytm became a household name.

The journey was far from smooth. Competition intensified, regulations tightened, and profitability was questioned. Paytm faced criticism, market pressure, and public scrutiny. Still, Vijay stayed focused on the long game. He continued building an ecosystem that included payments, banking, insurance, and investments.

In 2021, Paytm launched one of India’s largest IPOs, marking a historic moment for Indian fintech. While the road ahead continues to challenge the company, Paytm’s impact on how India pays is undeniable.

Vijay Shekhar Sharma’s story proves that failure is not the end. Resilience, vision, and belief can turn even the biggest setbacks into nationwide revolutions.

LuwakTech’s sharp insights and inspiring startup stories ignite passion, spark ideas, and empower the upcoming bunch of entrepreneurs to chase their dreams.

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