Paytm Integrates Perplexity's AI-Powered Search to Enhance Financial Assistance

Paytm Partners with Perplexity to Integrate AI-Powered Search into Its App

The partnership aims to enhance digital literacy and AI-driven intelligence in mobile payments. Paytm, on Thursday, February 27 announced that it has partnered with AI startup Perplexity to integrate AI-powered search on its app. The fintech company said the partnership "marks a major step toward integrating AI-driven intelligence into mobile payments, enabling users to get real-time financial assistance within the Paytm app." Also Read: Perplexity Launches Deep Research for AI-Powered Expert Analysis Paytm users will be able to "ask everyday questions, explore topics in their local language, and make informed financial decisions" through the integration of AI-powered search in the Paytm app with Perplexity. The company added, "This innovation enhances digital literacy and reinforces our commitment to driving technological advancements for a smarter, AI-driven India." "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 Vijay Shekhar Sharma, Founder and CEO - Paytm. "We are thrilled to partner with Paytm, a pioneer and innovator in India's mobile payment revolution. Our AI-powered search technology will help bring real-time, trusted answers to millions, enabling them to make informed decisions effortlessly. This collaboration is a step towards a future where AI enhances everyday interactions and digital experiences for all," said Aravind Srinivas, CEO and Co-founder - Perplexity. Also Read: Perplexity Acquires Carbon, Expands Publisher Program with 15 New Media Partners "Our partnership showcases how AI can empower millions by making information and financial services easily accessible," the companies said in a joint statement.

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

This will enable users to ask questions and make financial decisions Fintech giant Paytm has partnered with AI search engine Perplexity to provide users with real-time financial assistance on its app. This collaboration aims at integrating AI-driven intelligence into mobile payments, Paytm said in an exchange filing. Under this 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.

Paytm App Will Now Let You Ask Queries via Perplexity's AI-Powered Search

Paytm says users can ask Perplexity queries in local languages Paytm announced its partnership with AI-powered search platform Perplexity on Thursday. With this partnership, the mobile payments platform is integrating a search interface powered by Perplexity. The One97 Communications-owned company said that the AI-powered search experience will allow users to get real-time answers to queries and financial assistance without the need to leave the app. The new search experience is available as a free tool and comes with a full-screen user interface (UI) that allows users to access Perplexity's basic features. In a blog post, the fintech company announced the partnership with the AI firm and the launch of the new search experience. Paytm said that this collaboration brings AI-driven intelligence into mobile payments, and will help users get real-time financial assistance within the app. The company highlighted that this collaboration was undertaken as the need for instant and reliable information to support users' financial decision-making in managing finances, exploring market trends, and making daily choices was felt. "With Perplexity, we are bringing the Power of AI to Millions of Indian Consumers, making knowledge and financial services more seamless and accessible," said Vijay Shekhar Sharma, Founder & CEO of Paytm. Notably, the AI-powered search experience is not being integrated with Paytm's existing app-wide search interface that can be accessed by tapping the magnifying glass icon at the top-right corner of the app. Instead, Perplexity's AI search will be available in the Free Tools section on the home page. The section also features tools for credit score checking, mutual fund reports, and insurance status. Gadgets 360 staff members were able to access the tool, and tapping on it opens a full-screen interface with both Paytm and Perplexity logos and the tagline "Search powered by Perplexity" at the top. The rest of the interface contains a bare-bones version of the Perplexity platform with a text field as well as several suggested queries. Asking a query opens a new page where users can see the sources used to find the information listed at the top followed by the answer. The output and its formatting are backed by the AI firm's answer engine and are similar to the one on Perplexity's apps and web client. Notably, the company claimed that the AI search will support local languages.

Perplexity Karo!

CEO Srinivas discussed the integration of AI into Paytm as part of the broader trend of 'super apps'. Payments provider Paytm has announced a partnership with AI search engine Perplexity to integrate AI-powered search into its app to help users make informed financial decisions. The new feature allows users to ask everyday questions, explore topics in their local language, and gain real-time financial assistance. AIM spotted the feature on the app ahead of today's official announcement. "I am very excited to work together with Paytm. They are very forward-minded and are trying to bring the power of AI to Indians without them having to pay anything," added Perplexity CEO Aravind Srinivas, emphasising the power of democratisation. He pointed out how some of the most advanced AIs are often restricted behind paywalls. Sharing his vision for AI in India during the announcement, Paytm CEO Vijay Shekhar Sharma said, "The ultimate AI movement for India will be when commoners are able to talk to an AI assistant and achieve higher productivity in a way that was typically not possible." Sharma indicated the company is working on voice capabilities, focusing on learning what questions people are asking to build a system around it. On privacy concerns, he clarified that when users ask questions to the AI, only those specific queries go to the model, not any historical Paytm financial data. This comes after Amazon teamed up with Anthropic to bring an AI-powered Alexa+ to millions of households in the US. With 600 million Alexa devices already out there in the US, this could be the first real experience with generative AI for many. Srinivas discussed the integration of AI into Paytm as part of the broader trend of 'super apps' which provide various services like payments, shopping, and AI assistance - all within one platform. This trend already exists in the West. The partnership also aims to solve use cases specific to India and in accordance with India's larger cultural and linguistic context. Srinivas explained that the integration is not just about translating AI into different languages but also about adapting to the country's infrastructure. This includes making agricultural laws and government policies more accessible, especially in rural areas with lower literacy and English proficiency. According to him, just as payment is a very local and country-specific product, the intersection of financial services and AI will also need to be localised for different markets. Meanwhile, Srinivas revealed that, during an interaction, Prime Minister Narendra Modi stressed the need for AI to support India's local languages for better accessibility. "The ability to just ask a question comes very naturally to anyone in their mother tongue," Srinivas added. Given India's vast cultural context, he added that PM Modi expressed interest in employing AI to access ancient Indian texts, especially those not indexed by the web or not translated into English, and integrating them with modern scientific knowledge. Consistent with his previous post on X, Srinivas discussed how India should develop its own foundational AI models to ensure proper representation of Indian languages and build the necessary skills and infrastructure to compete globally. According to The Indian Express, the IndiaAI mission has already received 67 proposals for building an AI model focused on India. A high-level committee of external experts will evaluate these proposals and make a decision by the end of the month. "India is one of the most curious countries. [People are] curious about so many different topics, and Perplexity is the ultimate solution to their curiosity," said Srinivas, regarding his vision for India. He aims to make sure that no student has to pay for the pro version of Perplexity anywhere in the world. Recently, the company announced pro subscriptions for IIT campuses in India. Responding to concerns regarding the restriction of the subscriptions to just IITs, Srinivas said, "I read a lot of comments like, why IITs? They already have all this. That's not the point. It's very difficult to go mass market instantly, but the goal is to understand the rollouts there and then learn from any mistakes we make there and try to bring it to everybody."Perplexity is also betting big on India, which has the second-largest number of AI users in the world. The company recently announced plans to recruit talent to expand its presence in India.