Page 20 - Digital Payments

Paytm makes offer for sale ahead of planned IPO; AGM on June 30

The board of One97 Communications Ltd, which owns Paytm, has given an in-principle approval to the offering plan

SBI invests undisclosed amount in digital payments startup Cashfree

Country's top lender seeks to promote digital payments. Last November Cashfree had raised $35.3 mn in Series B funding, led by UK's Apis Growth Fund II

Digital Payment transactions decline in May from March-April levels

Cash withdrawal through ATMs, transactions through NEFT and RTGS also decline

Paytm board grants in-principle approval for around Rs 22,000 crore IPO

Digital payments and financial services firm Paytm has received in-principle approval from the company's board to raise around Rs 22,000 crore through an initial public offer during the October-December quarter this year, according to an industry source. The company is looking at an enterprise value of over Rs 2 lakh crore for the IPO, which is likely to be discussed at its board meeting scheduled for Friday. "The board of directors of Paytm has given in-principle approval for the mega IPO planned to be launched in October-December quarter. The company expects to raise around Rs 21,000-Rs 22,000 crore from the IPO. This will also give some of the existing investors to offload some of their stake," the source aware of the development told PTI. The board meeting of the company was held on Friday. When contacted, Paytm spokesperson declined to comment. It is likely to be one of the largest IPOs in India if the company is able to achieve the target as per its plan. Paytm shareholders

Paytm plans to launch India's biggest IPO, aims to raise $3 billion

According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan

Second Covid wave: Auto-debit payment bounce rate increases again in April

Experts say the rise may continue, given the lockdowns

Paytm provides technological support to Japan's payment app PayPay

SoftBank is aiming to take PayPay public; Paytm may also get some stake in the app

Local kirana shops embrace retail tech as Covid-19 puts focus on essentials

According to RedSeer, online grocery will grow eight times to $18 billion market size in 2024, with 40-50% growth seen in the 2021 calendar year

Chargebee's valuation triples to $1.4 bn in 6 months, raises $125 mn

The global pandemic has accelerated the already growing shift to SaaS (software-as-a-service) and subscription-based business models from cars to coffee providers

Payments space heats up as Amazon says 5 mn businesses using Amazon Pay

The e-commerce major has also launched the 'Amazon Pay For Business' app for small and medium businesses to enable seamless acceptance of digital payments.

Unicorn fintech firm Pine Labs acquires Fave in deal valued over $45 mn

Malaysia-based company Fave, which provides QR payments and loyalty cashback to restaurants and retailers, has enabled 6 million consumers in Southeast Asia to save over $400 million since 2016

Digital payments grew by 76% in the past 12 months: Razorpay report

Tier-2 & 3 cities and towns continued to contribute over 50% of all online transactions

E-wallets are similar to bank accounts, but more convenient: Experts

Will help those who can't ensure minimum balance

WhatsApp's competitor Signal tests peer-to-peer payments via cryptocurrency

Encrypted messaging app Signal has announced that it is working to let users send money in cryptocurrency to friends and relatives

MobiKwik: What makes the firebrand co-founders defensive about company

The co-founders see their reliance on mostly Indian funding as a compelling USP

Top UPI players stare at uncertain future over 30% cap in market share

When an app breaches 30 per cent market share by volume, NPCI will ask third party apps to stop onboarding of new customers.

Startups help make public transport safer for the commuter post Covid

How contact-less payments, voice-enabled ticketing and NFC are changing your travel on public transport

UPI transaction value touches new high at Rs 5 trn in March, volume up too

Launched in 2016, UPI crossed 1 billion transactions for the first time in October 2019.

Auto-debit payments: RBI extends timeline for implementation of new rules

The new norms were supposed to kick in from April 1 but neither banks nor the other stakeholders in the ecosystem had readied their system

Six consortiums in the fray to bag NUE licence for retail payments

Last month, RBI extended the deadline to apply for licence at the behest of IBA