Paytm to invest Rs 10 cr to aid app developers

NEW DELHI: Paytm on Thursday said it aims to support one million apps on its recently launched Android Mini App Store as part of its efforts to support Indian developers and compete against tech giant Google. It will also invest Rs 10 crore for the app developers on its platform.

Paytm founder Vijay Shekhar Sharma - who has been vociferously voicing his concerns around the “monopolistic” behaviour of the US-based company - said with its steep 30 per cent fee, Google has started to play the role of a “toll collector” instead of enabling the ecosystem.

“App developers are dependent on a giant monopoly, Google and Google has started to play like a toll collector instead of trying to enable the ecosystem only...we will bring one million app before Google opens its charging obligation on each Indian developer,” he said.

It is committed to developing India’s technology ecosystem. “Programmers and developers in India can build, they are not just the back office developers...We are the developers who can build the best apps... We are announcing a Rs 10 crore investment fund for app developers,” he added.