Jio, Uber, Zomato, Oyo, others drive Paytm’s growth; Vijay Shekhar’s firm rules half market
Posted on 31st May 2019 |
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Vijay Shekhar Sharma founded Paytm now dominates online transactions with it having half of the share of the market among rival gateways. Driving its growth are leading brands which include Reliance Jio, Uber, Zomato, OYO, Dominoes and IRCTC, and others, as the majority of the digital transactions are done for these brands, Paytm said in a statement. Also, Paytm Payments Gateway (PG) has seen a three-fold jump in the number of transactions in the last year. |
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Paytm Payment bank turns profitable: Reports net profit of Rs 19 crore in FY19
Posted on 23rd May 2019 |
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Paytm Payments Bank Limited (PPB) Thursday said it has turned profitable within its second year of operation, reporting a profit of Rs 19 crore for the financial year 2018-2019. PPBL claimed to lead mobile banking transactions with over 19 per cent market share as of March 2019. “Nearly a third of the total mobile banking transactions in India are powered by PPB and it processes over Rs 3 lakh crore worth of digital transactions on an annualised basis,” the company said in a statement. |
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Paytm Mall probe reveals Rs 10-crore cashback fraud: Vijay Shekhar Sharma
Posted on 15th May 2019 |
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Paytm Mall has unearthed a fraud of up to Rs 10 crore following a probe into a large percentage of cashbacks earned by small merchants and de-listed hundreds of sellers from its platform apart from sacking many employees. Regarding the feasibility of businesses providing freebies, Paytm's chairman and chief executive Vijay Shekhar Sharma said the cashback model is sustainable. |
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Paytm Mall goes after fraud merchants; ropes in E&Y to build tech system before going global
Posted on 13th May 2019 |
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Paytm’s e-commerce platform Paytm Mall has entered into a partnership with Ernst and Young before its touted global release, Paytm Mall said in a statement. With this, the company looks to build a fraud prevention system for its customers and partners alike. The 2016 founded company “will undertake frequent audits to identify, analyse and monitor various in-built and outsourced processes to recommend global practices,” which will be deployed in building “Technology-driven Fraud Prevention System”. |
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Now Paytm’s online merchants can automate payment collection for subscription services
Posted on 29th April 2019 |
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E-commerce payment company Paytm today announced the launch of recurring payments service for online merchants to allow them to automate the collection of payments for subscription services they offer to their customers. The company claimed to process over 400 million monthly transactions through its payment gateway for merchants. Paytm Payment Gateway competes with PayU, Razorpay, JusPay, Instamojo, BillDesk, CCAvenue etc., in India. |
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Paytm Payments Bank’s mobile banking share slips to 18% in February
Posted on 24th April 2019 |
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Paytm Payments Bank’s market share in mobile-banking volumes slipped to 18% in February 2019 from 26% in February 2018 with Airtel Payments Bank entering the fray and incumbent HDFC Bank gaining some ground. Data released by the Reserve Bank of India (RBI) show that Paytm recorded 133 million of a total 739 million mobile-banking transactions made during February 2019. |
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Paytm takes cue from Alibaba, launches credit score check facility for app users
Posted on 23rd April 2019 |
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Digital payments company Paytm has now enabled users to check their credit scores on its mobile app. Users can access the service by clicking on ‘My Credit Score’ under their user profile section. Paytm-backer Alibaba’s financial services affiliate Ant Financial had launched a similar service called Sesame Credit in January 2015 for individual credit scores of customers and small business owners. |
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Paytm sees regional language users driving travel business growth
Posted on 5th March 2019 |
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Paytm Travel, the digital arm of payment and wallet company Paytm for booking online travel tickets is looking at regional language users in tier-II and tier-III cities to drive growth ahead. The travel business has 13 million customers, up from 9 million last year, said Paytm’s Vice President and head of Paytm Travel Abhishek Ranjan told Financial Express Online. |
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Paytm’s latest punch: Vijay Shekhar Sharma explains why cashbacks make sense
Posted on 13th February 2019 |
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Even as we continue to see immense competition among mobile wallets with each vying for greater market share, Paytm’s Vijay Shekhar Sharma says that cashbacks work to retain customers. According to Vijay Shekhar Sharma, offering cashbacks makes the “customer pull out phone and try the product once.” Notably, Vijay Shekhar Sharma’s response came after UTV Group founder Ronnie Screwvala tweeted that he received a Rs 75 cashback after spending Rs 210 for a ice-cream. “At the airport and paying a single scoop of ice cream for Rs 210. |
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