Of the 150 million MAUs that we have in India, about 20 million are SMEs who use our app to get new clients and manage their businesses. How important are small businesses for your operations in India? We see payments as a way to complete the conversation that a user is having with another user or a business. Our competitive advantage comes from the communication side. Our core use case is very strong, and we donвЂ™t need to blow up marketing to buy transactions. Our reason for existing on their smartphones is not transaction volumes. That is why we have seen fantastic cashback and discounts in this space. Most other apps have invested heavily in marketing, buying users and buying transactions from them. However, our transaction market share is not very high, because we have chosen not to buy transactions. We have a very healthy market share, and one in four UPI users are registered with Truecaller. How much headway have you made, given the intense competition in this segment? You entered the payments space with Truecaller Pay a while back. We build in India, for India and then we export to other markets where we have a substantial presence. Even though we are a Swedish company, we consider India to be our home market. We are present on every one in four active smartphones in the country about 60% of our user base comes from tier II towns. This shows that our daily active users (DAUs), too, are very high here. India is one of our strongest markets - 75% of our overall user base is in the country, and roughly 80% of our users here use the app every day. Since then, this figure has grown by 35%, and around 70% of this subscriber base is from India. We crossed the one million premium subscriber mark worldwide in October last year.

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