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CLAIM ID

24838265

Paytm knew about the demonetization decision beforehand.

The company COO had clarified that the ads were planned soon after the decision to demonetize was announced by PM Modi.

The company COO had clarified that the ads were planned soon after the decision to demonetize was announced by PM Modi.Rumors sparked whether Paytm knew the decision on demonetization and how could a company be so quick in delivering the ads the very next morning when PM Modi announced the decision to scrap the old high-value notes.

Paytm in its blog post, explained that they managed to get the ads published on front pages of newspapers after a decision was taken by the company's top management immediately when the news came out. Kiran Vasireddy, the COO of a Noida-based mobile wallet firm, said that the company had called for an emergency meeting where they discussed the adoption of digital payments aggressively in the wake of the new announcement. Paytm founder, Vijay Shekhar Sharma, and its marketing team started deliberating on its advertisement strategy. A decision was taken to publish the picture of PM Modi, congratulating him on the move, and use the PM's photo for its front-page newspaper ads. The company designed its media creatives for print, and online media booked the media space and recorded over 10 radio spots within an hour or two.

So the whole idea was preplanned by the company's head and his team only after the announcement on demonetization was made in public.

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