Paytm, a leading fintech company, announced on Thursday that it will work with Perplexity to integrate the artificial intelligence (AI) startup's search features into its app.
Paytm stated that the integration will enable its customers to ask questions, explore topics in Indian languages, and make financial decisions. The Noida-based company referred to the collaboration as a "major step" toward integrating AI and mobile payments. The chatbot will be available as a button within the Paytm app.
The launch of the collaborative consumer-facing feature comes more than a year after Paytm announced that it used AI automation internally, resulting in a 10-15% reduction in employee costs.
According to Paytm founder Vijay Shekhar Sharma, the transition from search to AI-driven actionable insights necessitates local data training, which the industry is pursuing. He was speaking on X Spaces with Perplexity co-founder Aravind Srinivas.
"This collaboration is a step towards a future where AI enhances everyday interactions and digital experiences for all," says Srinivas. Perplexity provides answers to users' questions in real time.
"AI is changing how 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," Sharma explained.
"...the need for instant and reliable information to support informed decision-making is increasing—whether in managing finances, exploring market trends, or making daily choices," the company said.
