Paytm Partners Perplexity To Offer Users Real-Time AI Financial Assistance

Fintech giant Paytm has partnered with AI search engine Perplexity to provide users with real-time financial assistance on its app.

The collaboration is aimed at integrating AI-driven intelligence into mobile payments, Paytm said in an exchange filing.

Under the initiative, Paytm is adding an AI-powered search bar in its app, enabling users to ask questions and make financial decisions.

“AI is transforming the way people access information and make decisions. With Perplexity, we are bringing the power of AI to millions of Indian consumers, making knowledge and financial services more seamless and accessible,” said Paytm founder and chief executive officer Vijay Shekhar Sharma.

Doubling down on the AI-first features, Sharma said that Paytm may come up with services that are individually tailored to user’s financial needs. 

“For example, features related to portfolio management, savings, and expenditure control, as well as summarisation and financial insights – these are the kinds of features you can expect to see soon,” he added.

During the launch event, Perplexity founder Aravind Srinivas said that the integration aligns with the idea of a super app model of offering multiple features in one platform. He added that Perplexity’s integration in the financial services will enhance the user’s payment decision making ability by providing financial insights and market trends at the click of a button. 

With focus on transparency, Srinivas said, “The most important thing is that you can fact-check what the AI says.” 

Meanwhile, on a query about the integration helping in improving credit score, Sharma underlined the importance of local data training as financial services and credit scores vary by geography. Using this, Sharma said that Paytm will soon introduce AI-first experience in the application. 

“Today, we are trying to learn what people are asking so that we can build a product in that direction. Some of the things you can soon expect us to launch include AI-first experiences in the app, which wouldn’t have been possible without a model running behind the scenes to answer those questions,” he said. 

The development comes a day after the central government signed an agreement with Paytm to boost innovation and accelerate the growth of manufacturing and fintech startups in the country. With this partnership, the fintech company will provide mentorship, infrastructure support, market access, and funding opportunities to startups.

Last week, Paytm also launched a solar-powered soundbox for merchants. This soundbox can be charged with minimal sunlight. 

In September last year, Sharma said that Paytm is fully committed to integrating AI in its core business payment. Later in December, he also encouraged founders to build AI-first companies.

On the financial front, Paytm managed to narrow its loss by 6% to INR 208.5 Cr in the third quarter of FY25 from INR 221.7 Cr in the same quarter last year on the back of recovery in its digital payments business.

However, its operating revenue declined 36% to INR 1,827.8 Cr during the quarter under review from INR 2,850.5 Cr in the year-ago period. 

Shares of Paytm ended Thursday’s (February 27) trading session 1.15% lower at INR 725.75 on the BSE.