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Paytm Blazed a Trail in Indian Fintech but Faces Crowded Market as IPO Nears

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Paytm blazed a trail in Indian fintech. With an IPO nearing, it has fallen short of its goal to dominate the country’s payments market.

Paytm, a pioneer in mobile payments in India and one of the country’s best-known startups, set out years ago to build an ubiquitous digital-finance ecosystem much like Ant Group Co.’s Alipay in China.

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