Paytm partners with US-based Perplexity AI for smart search on its app

Digital payments firm Paytm (One97 Communications Ltd) has partnered with US-based AI company Perplexity to integrate artificial intelligence-powered search capabilities into its app, the company said on Thursday.

The collaboration will allow users to ask everyday questions, explore topics in their local language, and make informed financial decisions using AI-driven insights, Paytm said in a statement.

“With Perplexity, we are bringing the power of AI to millions of Indian consumers, making knowledge and financial services more seamless and accessible,” Vijay Shekhar Sharma, Founder and CEO of Paytm, said.

Perplexity, known as an AI-driven “answer engine,” delivers real-time, sourced responses to user queries. The integration of its technology into the Paytm app aims to support informed decision-making among users, particularly in managing finances and exploring market trends, the company said.

The conversational 'answer engine' of Perplexity draws from credible sources in real time to answer users' questions with in-line citations. The company was founded in 2022 by former members of OpenAI, Meta, Quora, Bing, and Databricks.

Aravind Srinivas, CEO and Co-founder of Perplexity, said, “Our AI-powered search technology will help bring real-time, trusted answers to millions, enabling them to make informed decisions effortlessly.”

The move comes amid the rapid expansion of India’s digital economy and an increasing demand for instant and reliable information, particularly in financial services.

Paytm, operated by One 97 Communications Ltd, is a leading digital payments firm, known for its QR codes, Soundbox, and mobile payments solutions.