Paytm plans to add about $500 mn in eWallets in 2016

Report says that the projection of $500 mn does not include cashbacks that the company offers its customers on ecommerce transactions, Sharma said.

Mobile payments and commerce firm Paytm is expecting customers to add about $500 million in their wallets in 2016, its founder Vijay Shekhar Sharma reportedly said.

"Next year, as more and more businesses push marketing dollar spends to cashbacks and wallets, the recharge value and frequency will steadily increase," Sharma was quoted sa saying.

Report says that the projection of $500 mn does not include cashbacks that the company offers its customers on ecommerce transactions, Sharma said.