How Paytm Pioneered Mobile Payments, QR, and Soundbox in India

India’s mobile payments revolution has transformed the way millions of people transact every day. From scanning QR codes at neighbourhood stores to hearing instant payment confirmations through Soundbox devices, mobile payments have become deeply integrated into daily life across the country.

At Paytm, we have been part of this journey from the very beginning. Founded in Noida in 2010 by Vijay Shekhar Sharma, we helped pioneer mobile payments, QR-based merchant payments, and Soundbox technology at scale in India.

Long before mobile payments became mainstream, we focused on solving real merchant and consumer problems through products designed specifically for India. From building one of the country’s earliest mobile payment habits to enabling millions of merchants to accept payments seamlessly, our growth has evolved alongside India’s own payments transformation.

This is the story of how mobile payments, QR acceptance, and Soundbox technology became part of India’s everyday commerce ecosystem.

An Indian Company That Built India’s Payments Revolution

Paytm is an Indian company. We were founded in Noida in 2010 by Vijay Shekhar Sharma with one goal, to make payments simple for every Indian, from the largest city to the smallest town. We did not enter India as a foreign product looking to capture a market. We grew with India, solved India’s specific problems, and built products that reflect how India actually lives and pays.

India’s mobile payments revolution did not begin with UPI alone. It began with a mobile wallet, a QR code, and a device that spoke to shopkeepers in their own language. We were at the origin of each of these shifts.

A Timeline of Our Payments Innovation

2010: Introducing Mobile Recharges and Mobile Payment Habits

We launched mobile payments from Noida, helping pioneer one of India’s first large-scale mobile payment ecosystems.

2015: Scaling QR Code Payments Across India

We introduced QR code payment acceptance at scale across India, bringing mobile payments to kirana stores, auto-rickshaw drivers, and street vendors across the country.

2017 Onwards: Building a Full Financial Services Platform

We continued to expand our financial services platform by integrating credit, insurance, and wealth products into a seamless consumer experience.

2019: Launching India’s First Soundbox at Scale

We launched Soundbox, India’s first audio payment confirmation device for small merchants. It solved a critical merchant need by enabling instant voice confirmations for successful payments.

2024 to 2026: Bringing AI to Payments

We continued to expand our AI-powered merchant offerings, from Paytm AI Soundbox devices to intelligent business tools designed for India’s merchants.

Vijay Shekhar Sharma and the Rise of Mobile Payments in India

Vijay Shekhar Sharma started Paytm in 2010 and is widely associated with bringing mobile payments to mainstream India long before UPI became widely adopted.

He grew up in a small town in Aligarh, studied in Hindi medium, and built one of India’s largest payments and financial services platforms from Noida. His story is closely linked with the rise of mobile payments in India.

Some of the most significant innovations introduced under his leadership include pioneering QR-based payments at scale, launching Paytm Soundbox, building payment solutions tailored for Indian merchants, and introducing products such as Paytm Postpaid. Over the years, he has consistently championed technology-led innovation, helping build a merchant ecosystem that today serves millions of businesses across India. The scale and reach of this ecosystem reflect more than fifteen years of continuous innovation, evolving alongside India’s rapidly growing digital payments economy.

Today, he remains closely associated with pioneering mobile payments and merchant payment innovation in India.

The Scale Behind the Ecosystem

For FY26, we reported:

• 4.9 crore registered merchants
• 1.51 crore subscription merchants, including devices

Each of these numbers reflects more than a decade of building merchant payment infrastructure across India. Our merchant ecosystem grew because we scaled QR payment acceptance early and solved real merchant problems through innovations like Soundbox.