Paytm Mall aims to generate $10 bn in annualised gross sales by March 2019
Posted on 16th August 2018 |
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With an aim to expand its share in India’s growing online retail market, Paytm Mall targets a three-fold increase in its annualised gross sales, taking it up to $10 bn-mark by March 2019. Owned by Paytm E-commerce Pvt Ltd., Paytm Mall has ramped-up its efforts to expand the business. |
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Debit cards: Paytm rules the roost in the virtual world but lags in real life
Posted on 14th August 2018 |
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Given how every depositor gets a digital debit card, Paytm Payments Bank has in less than a year of its launch notched up a large outstanding debit card user base. Reserve Bank of India (RBI) data show the mobile wallet-to-payments bank entity had 39.12 million outstanding debit cards at the end of May. |
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Paytm buys savings management app Balance Tech for undisclosed sum
Posted on 9th August 2018 |
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New Delhi: Paytm, the digital payments provider run by One97 Communications Pvt. Ltd, has acquired savings management application Balance Tech for an undisclosed sum, the company said on Thursday. As part of the acquisition, Balance Tech’s six-member team, including founders Ankit Kumar and Abhishek Malik, will join Paytm’s product and design department, the company said in a statement. |
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Incumbent distributors confident despite talks of Paytm's MF foray
Posted on 8th August 2018 |
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The widely heralded Jio moment of the mutual fund industry is right around the corner. Paytm is set to go live with its mutual fund distribution platform, Paytm Money, anytime this month. However, mutual fund distributors, which at the last count accounted for Rs 1.8 trillion of industry assets, are confident that there is no need for them to reshuffle their business model and reiterated the importance of timely advice for investors. |
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Paytm Money in final stages of testing; MF foray likely to begin this month
Posted on 7th August 2018 |
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Mobile payments company Paytm is tying up all the loose ends before it officially rolls out Paytm Money, its mutual fund distribution platform. The company recently gave access to employees of its parent company, One97 Communications, and Paytm Money to test the beta version of Paytm Money app, according to people with direct knowledge of the matter. The management is getting ready to launch the app in August. |
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Paytm debuts in Japan with launch of PayPay, plans an entry into Europe
Posted on 28th July 2018 |
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Paytm is on a major global expansion drive. After launching its wallet in Japan, sources said Paytm is planning to make an entry into Europe. However, things are at a nascent stage and plans of entering Europe might not kick off before next year. After gaining 300 million mobile wallet users in India, the firm has now expanded operations to Japan via PayPay Corporation, a joint venture established by SoftBank Corp and Yahoo Japan Corporation. |
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SoftBank partners Paytm to launch payments service in Japan
Posted on 27th July 2018 |
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SoftBank Group Corp today said it will launch a digital payments service in Japan, and has partnered Paytm for the service. The service PayPay will be launched by SoftBank’s joint venture PayPay Corporation (with Yahoo Japan) in fall this year, SoftBank said in a statement. “PayPay Corporation will team up with India’s largest digital payments company Paytm, a SoftBank Vision Fund portfolio company, to utilise Paytm’s technology and expertise in mobile payments,” it added. |
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Paytm, Future Group, Flipkart plan $100 mn content push to take on Amazon
Posted on 9th July 2018 |
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Major e-commerce and retail players, including Paytm, Future Group and Flipkart, are set to invest close to $100 million in procuring and incorporating entertainment content, in a bid to take on Amazon India. According to sources, Paytm, which recently announced a host of new features in ‘Inbox’, its in-app messaging service, including live TV, news, cricket, entertainment videos and games, is planning to invest close to $30 million in this sector. |
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