Page 26 - Paytm

Paytm to invest Rs 100 cr in GIFT City to build global financial ecosystem

Fintech firm One97 Communications, which owns Paytm brand, plans to invest Rs 100 crore in Gujarat International Finance Tec-City (GIFT City) to build a global financial ecosystem, the company said on Wednesday. The company will make the investment over a period of time and will seek requisite approvals for the same. "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale," One97 Communications Founder and CEO Vijay Shekhar Sharma said in a statement. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the

TMS Ep595: Paytm, AI in 2023, stock laggards, EU pact on migration

Why is Paytm pivoting away from lending? What did 2023 reveal about the future of AI? Will the laggards of 2023 turn around next year? What is the new EU pact on migration? All answers here

9.12 bn merchant transactions made via Paytm in second quarter of FY24

As many as 912 crore merchant transactions were made using Paytm in Q2FY24, parent One97 Communications said on Wednesday. Notably, the maximum number of payments have been done on Saturdays, making it the busiest day in the week for digital transactions, the company said releasing Paytm's 2023 Recap. When it comes to making most payments from midnight to 6 AM, Delhi emerged as Paytm's night owl, outshining cities like Hyderabad, Bengaluru, Chennai, and Goa, the release said. "A whopping 912 crore merchant payments were made using Paytm in Q2FY24," according to the release by One97 Communications Ltd (OCL) that owns the brand Paytm. Releasing Paytm's 2023 Recap, it said if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars. Paytm said it continues to strengthen its leadership in in-store payments, with more than 92 lakh Paytm pioneered devices such as Soundbox, Card Machines, amongst others in the quarter ending September 2023.

Stocks to Watch today: Paytm, Adani Wilmar, ONGC, Lupin, Kalyan Jewellers

Stocks to watch on Tuesday, December 26, 2023: Muthoot Microfin and Suraj Estate Developers to debut on the bourses today.

Paytm looks to rationalise employee costs by revising hiring strategy

The company, said to be exploring different ways to save on employee costs, has laid off a few employees for 'poor performance'

Paytm hands over 1,000 pink slips; staff from lending business affected

The decision to dismiss these employees comes weeks after the fintech company announced it would reduce the disbursement of small-ticket-size loans as RBI tightened norms

Paytm lays off over 1,000 employees as part of cost-cutting measures

The fintech giant's parent company, One 97 Communications, is working towards reducing its staff expenses by 10-15% over the ongoing financial year

Paytm's billionaire founder-CEO bets on young wealth to hit profit sooner

Billionaire founder-CEO Vijay Shekhar Sharma is overhauling its suite of money management products to better tap growing wealth among younger users, who're warmer to the idea of investing online

Paytm hits over 8-month low; stock tanks 38% from its 52-wk high of October

The stock of the fintech firm has remained under pressure since it announced it will scale down small-ticket size loans, especially, those below Rs 50,000

Sharp downgrades likely to keep Paytm stock under pressure in market

The buy now, pay later (BNPL) business may moderate sharply with disbursements down by 15-18 per cent

Sensex, Nifty snap 7-day winning run, end marginally down; Paytm cracks 19%

Closing Bell on December 7, 2023: Broader indices, however, outperformed on Thursday - the BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Paytm slumps 20% on likely earnings impact from scaling down postpaid loans

The sub-Rs 50,000 loans majorly constitute the postpaid loan product (buy now, pay later or BNPL), which could be halved going ahead, Paytm said

Stocks to Watch: Adani Wilmar, Delta Corp, Paytm, Bharti Airtel, IRCON, BEL

Stocks to Watch on December 7, 2023: As per reports, Warburg Pincus is offloading shares in Bharti Airtel and IDFC First Bank

Paytm to trim small-ticket postpaid loans after RBI tightens norms

It disbursed personal loans amounting to Rs 3,927 crore and merchant loans worth Rs 3,275 crore in Q2FY24

Paytm expands loan distribution business, targets personal, merchant loans

Paytm said that it would continue to collaborate and add banks and NBFCs as lending partners for its loan distribution business

Paytm to bring 10 mn sellers to ONDC by 2025 end, says Vijay Shekhar Sharma

"Consumer value (on ONDC) will be dramatically different and superior to current e-commerce platforms," he said

Berkshire Hathaway exits Paytm; sells 2.46% stake for Rs 1,371 cr

Billionaire Warren Buffet-backed Berkshire Hathaway Inc on Friday divested its entire 2.46 per cent stake in Paytm's parent company One97 Communications for Rs 1,371 crore through an open market transaction. Berkshire Hathaway Inc through its affiliate BH International Holdings sold more than 1.56 crore shares of fintech company Paytm on the National Stock Exchange (NSE). According to the bulk deal data available with the NSE, BH International Holdings offloaded 1,56,23,529 shares, amounting to a 2.46 per cent stake in Noida-headquartered Paytm. The shares were disposed of at an average price of Rs 877.29 apiece, taking the transaction value to Rs 1,370.63 crore. Meanwhile, Copthall Mauritius Investment picked up 75,75,529 shares and Ghisallo Master Fund LP acquired 42.75 lakh shares, amounting to a 1.19 per cent and 0.67 per cent stake in Paytm, respectively. The shares were purchased at an average price of Rs 877.20 per piece, taking the aggregate deal value to Rs 1,039.52 ...

Stocks to Watch today, Nov 16: TCS, Bajaj Fin, RateGain, ONGC, Dabur, Paytm

Stocks to Watch on Thursday, November 16, 2023: The RBI has asked Bajaj Finance to stop sanctioning and disbursal of loans under 'eCOM' and 'Insta EMI Card' segments with immediate effect

Paytm partners with travel tech firm Amadeus for search, flight deals

Fintech firm's users will get access to information on low-cost carriers, hotels

Paytm collaborates with Amadeus to drive travel experience with AI

One97 Communications, which owns Paytm brand, on Wednesday announced a partnership with Amadeus, under which it will integrate Amadeus' travel platform and optimise travel experience from search to booking, and payment. This partnership brings together Paytm's vast user base and Amadeus's expertise to provide travellers with a more seamless and efficient booking experience, according to a release. Paytm has partnered with global travel technology company Amadeus to redefine travel experience with Artificial Intelligence, the release said. "Under this collaboration, for the next three years, the company will integrate Amadeus's expansive travel platform, enhancing the travellers' experience from search to booking, and finally to payment," it said. Paytm is among the leading online travel aggregators in the country and the partnership with Amadeus is aimed at cementing its position as the premier travel provider in India. Leveraging Amadeus' advanced automation and New Distribution