Alibaba is playing a big role in helping to train the senior management of the upcoming Paytm Payment Bank
Indian mobile commerce player Paytm on Tuesday launched Paytm Cash - a semi-closed wallet for online shopping.
One97 Communications, which owns Paytm, was awarded the title sponsorship rights for India's international home cricket matches for four years after a winning bid of Rs 2.42 crore per match.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
It aims to grow gross merchandise value to Rs 19,000-25,500 crore.
Paytm Travel claims to have a base of around 13 million customers, a threefold increase over the user base in FY17. While significant, it is but a fraction of Paytm's wallet user base of more than 300 million.
His investment in Paytm is in his personal capacity.
The mobile wallet player plans to add more Chinese sellers to its e-commerce platform and boost technology for its soon-to-be-launched payments bank
Wipro will be implementing the core banking solution for Paytm.
Joint venture to take on Amazon will be announced next week.
The firm will invest over Rs 1,000 crore in marketing, cash backs and promotional spends
Some of the fintechs that will get impacted include Cred, Paytm, Phonepe and Amazon Pay, among others.
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
Paytm has, since November 8, been on an overdrive, rolling out a series of features on its app including multi-language options for a no-holds barred access across the country. The company is now planning to make Paytm available on all types of mobile phones, going much beyond smartphones.
Paytm e-commerce plans to add close to a billion products from across the globe to its platform before the festive season this year.
To take on Amazon, Paytm e-commerce plans to add close to a billion products from all across the globe to its shopping cart.
With options ranging from recharging mobile, data card, DTH, toll card, to making bill payments for mobile, data card, landline and electricity, besides buying bus tickets for anywhere within the country, this free app is ideal for those on the go.
Paytm has been preparing for the sale for the past three months.
Accuses foreign-funded competition of 'capital dumping' to capture market, bats for stronger regulations for sector.
Zomato is at 5, Swiggy at 9, Blinkit at 10.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
What explains Vijay Shekhar Sharma's optimism when other players have started to tread cautiously is Paytm's huge customer base: It has 120 million users and counting, says Nivedita Mookerji.
Paytm, which recently hived off its e-commerce and payments bank businesses into separate companies, would use these fresh funds to bolster the two businesses
The company is modelling its many ventures on Alibaba in China.
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
Since Sanjay Malhotra took office as governor in December, the Reserve Bank of India (RBI) has adopted a more accommodative stance, which bodes well for banking and the economy as they navigate a growth slowdown, according to analysts.
Sai Manish & N Sundaresha Subramanian offer a fresh perspective on the digital wallet business.
The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
The company, however, has not identified any of its officials despite mentioning that its employees facilitating refunds have been assigned specific login id and passwords, making it easier to identify those who processed which refunds
Paytm is just embarking on building a TaoBao like entity in India, it may want to address a challenge that the latter faced a few years after its launch.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
Food and grocery delivery major Zomato has pulled the plug on its plan to enter the lending business. Zomato Financial Services, a wholly-owned subsidiary of Zomato, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. "There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily," the Gurgaon-based company said in a regulatory filing on Tuesday.
Day 2: Syed Firdaus Ashraf attempts to deposit Rs 500, 1,000 notes in his bank account.
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
Seeks to cut biz costs by 10% for sellers across 24 verticals, by slashing fees and delivery charges.
A source said the deal would see Alibaba invest around $600 million
