After all, Paytm was among the earliest entrants in the Indian mobile payment sector and a government decision to make the Rs500 and Rs1,000 notes—which form 86% of the currency in circulation by value—invalid meant that the Delhi-based firm’s platform had emerged as one of the best alternative modes of payment.
Yet, less than a week into the demonetisation exercise, Paytm is in hot water. On Nov. 13, a commercial it had launched following the massive monetary revamp in India was alleged to be hurtful to the millions of Indians waiting for hours in long queues to get some usable cash in hand.
With the tagline Drama bandh karo… Paytm karo (Stop being melodramatic, use Paytm), the video showed a house-help asking her boss to stop dramatising the situation and instead use Paytm to pay her.
The video evoked howls of protests from a section of social media users.