Paytm may look cheap next to PhonePe—but that could be a trap
Shares of One 97 Communications Ltd, parent of fintech firm Paytm, have been in focus amid news flow around the potential valuation of PhonePe’s upcoming public issue. The interest is understandable: Paytm is the closest listed comparable peer to PhonePe. Both fintech firms began by facilitating consumer and merchant payments through UPI before expanding into…