Page 28 - Paytm

SoftBank sells another 2% stake in Paytm; holding slips below 10%

Japanese investor has monetised $900 million to $1 billion on a total investment of $1.6 billion: Sources

Softbank sells another 2% stake in Paytm, total holding now below 10%

Earlier in May, Softbank had sold another 2.07 per cent of its stake in Paytm through a series of open market operations starting February

Paytm signs MoU with Goa for electricity, water, municipal tax payments

One97 Communications Limited, the owner of Paytm, on Thursday announced the signing of a memorandum of understanding with the Goa government to facilitate digital payments, a senior official said. Abhay Sharma, chief business officer, payments, Paytm, said the memorandum of understanding (MoU) was signed in the presence of Goa Chief Minister Pramod Sawant and the state finance secretary, V Candavelou. Sharma said Paytm will deploy its payment devices like Paytm QR code, soundbox and card machines in all departments, including panchayats and municipalities, where users can make payments for electricity, water, and municipal taxes. With this, users can make payments for various services through Paytm UPI, UPI Lite, Paytm wallet, netbanking, debit and credit cards, he added. Sharma said as India's leading tech innovators, the company has been at the forefront of driving the digital revolution in the country through the industry-first payment solutions. We are happy to sign this exclu

Paytm cashbacks are back! Details here | How to get cashback?

Paytm is back with its lucrative cashback offers! According to a report, the fintech giant wants to onboard as many merchants as possible.

After consumers, Paytm is now offering cashback to woo merchants

The idea is to use attractive cashback offers to build a relationship with merchants and eventually offer them business loans, said a top executive

Paytm Q1: Value of loans disbursed increases 167%, GMV rises 37% YoY

Focus is on payment volumes that generate profitability, says fintech company

Paytm GMV rises 37% to Rs 4.05 trn in Q1FY24, value of loan disbursed grows

Fintech firm One97 Communications, which operates under the Paytm brand, posted a 37 per cent growth in gross merchandise value at Rs 4.05 lakh crore in the April-June quarter of this year, the company said on Wednesday. The company's gross merchandise value (GMV), which reflects total payments made to merchants on the platform, was Rs 2.96 lakh crore in the same period a year ago. "Merchant Payment Volumes (GMV) for the quarter (for three months ended June 2023) stood at Rs 4.05 lakh crore (USD 49.3 billion), YoY growth of 37 per cent," the company said in a regulatory filing. The value of loan disbursed through Paytm grew over 2.5 times to Rs 14,845 crore, from Rs 5,554 crore a year ago and the volume grew by 51 per cent to 1.28 crore, from 85 lakh during the same period. "MoM (month-on-month) loan distribution trend in June reflects the higher disbursal in May which included pent-up demand for merchant loans from April due to one of our partners not disbursing as they were ...

Cos operating in India must abide by local regulations: Paytm Founder

Joining the debate on data localisation, Paytm Founder and CEO Vijay Shekhar Sharma on Monday said companies operating in India should abide by rules and regulations laid down by the country, and also have an obligation to protect data of citizens. Startups in India are at an "incredible inflection point" Sharma said, adding there is no dearth of funds for startups focussed on solving real-world challenges with their innovative approach. "I am all for protecting our citizen data. Let it be clear if you are operating in this country, you are supposed to be abiding by laws and regulations of this country. You can't say my court is in another country...," Sharma told PTI when asked about regulations proposed in the digital space. Indian companies such as Reliance Industries have been votaries for storing and processing of data generated of Indian users within the country while foreign firms want freedom to store data outside the country as well. The chief of the fintech player also ..

Paytm partners with Shriram Finance to strengthen its loan distribution biz

Now, Shriram Finance products will be available on Paytm's platform

Par panel calls banks, Google, Apple, Paytm to discuss rising cyber crime

The Parliamentary Standing Committee on Finance has called representatives of several banks such as the Punjab National Bank as well as global and national tech majors, including Google, Apple and Paytm, next week to discuss issues related to cyber security and rising cases of cyber crimes. The committee, headed by BJP's Jayant Sinha, has called the representatives of the Punjab National Bank (PNB), Bank of India, Yes Bank and Indian Computer Emergency Response Team (CERT-In) on July 4 to take oral evidence on "cyber security and rising incidence of cyber/white collar crimes". On the same day, it has separately called representatives of tech majors One97 Communications (Paytm), Flipkart, Google and Apple on the same issue. Cyber crimes have become an increasing threat with savvy online operators resorting to various tricks to defraud people of their money. The issue of cyber security and rising incidence of cyber crimes was at the centre of deliberations at a meeting of the panel h

Shriram Finance, Paytm come together to augment digital financial services

One97 Communications Ltd, owners of the brand Paytm, on Friday said it has partnered with retail non-banking finance company Shriram Finance Ltd to offer financial services to its users, including loan products. Through this joint venture, Shriram Finance products would be made available on the digital platform to further expand Paytm's business to credit services as well, and drive financial inclusion. With its technology-led lending, Paytm has strengthened the credit ecosystem by partnering with marquee financial institutions to digitally distribute loans. "India is witnessing high growth in retail credit demand. It is only likely to increase with greater participation from rural and semi-urban India. A lot of this demand will come from a digitally literate, young generation brought up in the mobile telephone proliferation era and those having comfort in making all their transactions through handheld devices," said Shriram Finance Ltd executive vice chairman Umesh ...

After PayCM, Congress uses 'PhonePe' to target Shivraj Singh; firm objects

The poster war in Madhya Pradesh is similar to what happened during the Karnataka Assembly elections

Paytm can add 15 mn new customers for soundbox devices in next 2-3 years

Company has first-mover advantage in this space, but the competition is getting aggressive too

Stocks to watch: L&T, GAIL, ONGC, Fortis Health, Tata Power, Paytm, Vedanta

Stocks to watch on June 23, 2023: From L&T to Fortis Health, here are top stocks to watch in Friday's trading session

Paytm inks MoU with Arunachal Pradesh for creating startup ecosystem

: Paytm Payment Services Limited (PPSL) on Thursday signed an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state, officials said. According to the MoU, Paytm Incubation Centre will provide its product to early-stage startups at a discounted price and offer free credits through the Paytm Startup toolkit to aid the business ventures of youths in their early stage of growth. This will nurture the startup ecosystem in the state and motivate the young entrepreneurs, an official communiqu informed here. The MoU was signed at the Arunachal Pradesh Innovation & Investment Park, the first state-owned marquee incubator here in the presence of its CEO Tabe Haidar. "We are happy to partner with the government of Arunachal Pradesh in its journey to create a vibrant startup ecosystem. At the Paytm Incubation Centre, we strive to catalyse the startup ecosystem in India and help young entrepreneurs gain new user .

Indian banks looking for a bigger stake in digital India via own QR codes

Lenders are leveraging partnerships with fintechs and technology service providers to manage their apps and QR codes

Paytm leads $6 billion stock rally as Indian startups seek redemption

Shares of Paytm parent One 97 Communications Ltd. have surged 69%, adding more than $2.7 billion in market value, after it improved its profitability ahead of schedule

SoftBank looking to book profits by selling shares in Zomato, Paytm: Report

The shares will be sold in small tranches in the open market and not through block deals

How India fell in love with online payments

From paying a vegetable vendor to buying a high-end gadget, Indians are swiftly adopting online modes of payments for different needs. Watch the video to know why

Paytm hits 52-week high; surges 20% in 6 days on BofA's 'buy' call

Paytm has kicked off the current year on a high note, witnessing a remarkable upturn in its business performance