Page 29 - Paytm

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

Shares of Paytm rally 6.2% following an upgrade by BofA Securities

Paytm has a cash balance of nearly Rs 8,270 crore, over 15 per cent of its market capitalisation

Paytm rallies 8% to hit over 9-month high on BofA Securities 'buy' call

The brokerage firm BofA Securities upgraded the stock to 'Buy' on the back of strong revenue momentum and operational leverage, which can surprise on consensus estimates.

Paytm becomes merchant payments leader with over 7,500,000 devices deployed

"With our subscription as a service model, strong adoption of devices drives subscription revenues and higher payment volumes, while increasing funnel for our merchant loan distribution," said Paytm

Paytm's loan disbursals more than doubled to Rs 9,618 crore in Apr and May

The total number of loans via Paytm was up 54% to 8.5 million during the period, as compared to 5.5 million last year

Analysts cautiously positive on new age stocks despite improved Q4 metrics

Analysts say that investors with a high-risk appetite can consider accumulating these stocks but only on declines

Paytm Payments gets RBI nod to re-appoint Vijay Shekhar as part-time chair

Paytm Payments Bank has received RBI nod to re-appoint Paytm CEO Vijay Shekhar Sharma as part-time chairman for a year, a regulatory filing said on Tuesday. "We have been informed that Paytm Payments Bank Ltd (PPBL) has received approval of RBI for re-appointment of Mr. Vijay Shekhar Sharma as Part-time Chairman of PPBL, for a third term starting from May 23, 2023, for a period of one year," One97 Communications said in a regulatory filing. One97 holds a 49 per cent stake in PPBL and Sharma holds the rest of the stake in the entity.