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Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees and claimed that it is providing outplacement support for their smooth transition, according to a company statement. Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank. "One97 Communications Limited (OCL) is providing outplacement support to employees which have resigned as a part of the restructuring efforts by the company. "The company's human resource teams are actively collaborating with over 30 companies that are currently hiring, and providing assistance to employees who have opted to share their information, facilitating their immediate outplacement," the company said on Monday. Paytm, however, did not not disclose the number of employees impacted by the restructuring. "Paytm is also disbursing bonuses
Paytm E-commerce has changed its name to Pai Platforms and has acquired Bitsila, a seller platform on ONDC, gaining share in the online retail business. According to sources aware of the development, the company had applied for a name change around three months ago and got the approval from the Registrar of Companies on February 8. "... The name of the company has been changed from Paytm E-Commerce Private Limited to Pai Platforms Private Limited with effect from the date of this certificate... The company was originally incorporated with the name Paytm E-Commerce Private Limited," according to a Registrar of Companies notification dated February 8. Elevation Capital is the largest shareholder in Paytm E-commerce. It is also backed by Paytm Founder and CEO Vijay Shekhar Sharma, Softbank and eBay. Sources said that the company has now acquired Innobits Solutions Private Limited (Bitsila) which was launched in 2020 and operates as an ONDC seller platform with full-stack omnichannel a
Delhi Metro has introduced a QR code-based ticketing facility through the Paytm app across all lines, officials said on Thursday. This expansion of the innovative service was inaugurated by Vikas Kumar, the Managing Director of Delhi Metro Rail Corporation (DMRC), according to an official statement. With this new feature, commuters can now get the mobile QR ticket on the Paytm app under the Delhi Metro' section, by simply entering the station of entry and destination on the day of the journey, it added. Passengers can just hold their smartphone in front of the QR code scanner of the Automatic Fare Collection (AFC) gates at both entry and exit stations to proceed with the journey. Earlier this facility was available only on the Airport Express Line, it added. Kumar noted that this expansion is a significant step towards providing efficient and stress-free transportation to the vast number of metro commuters in the national capital. "In the recent past, we have taken host of measure