India, Oct. 9 -- Paytm began as a digital wallet, became a payments behemoth on the back of that and then built up the momentum with UPI. But two years ago it had to slow it all down and become a lending company. turn to profitability and the revival of topline after the Paytm Payments Bank bruising was down to this transition from payments to loans and distribution of credit products.

But now, the company finds itself at another crossroads as the MDR rules for UPI could once again turn Paytm towards payments as a growth engine. How will that change the fintech platform's revenue structure and how does the major focus on artificial intelligence (AI) play a role in this?

Five years ago, Paytm was almost entirely a payments company. Payme...