Paytm, Future Group, Flipkart plan $100 mn content push to take on Amazon
Posted on 6th 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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Former RBI Deputy Governor Rama Subramaniam Gandhi joins Paytm as Advisor
Posted on 20th June 2018 |
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One97 Communications, which runs Paytm, has appointed former RBI Deputy Governor Rama Subramaniam Gandhi as an advisor. Gandhi will bring his years of knowledge and experience on payment systems, regulations, compliance and corporate governance, the company said in a statement. Gandhi was a member of the first Monetary Policy Committee. |
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Paytm buys Flipkart-backed Cube26, aims to boost customer experience
Posted on 19th June 2018 |
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Bengaluru: One97 Communications Ltd which owns payments app Paytm on Tuesday announced the acquisition of New Delhi-based technology start-up Cube26. The transaction size was not disclosed. A Paytm statement said the acquisition will help the company upgrade user experience over its mobile platform. |
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Paytm is looking to cash in with a PoS business plan
Posted on 12th June 2018 |
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BENGALURU: Digital payments major Paytm is all set to enter the physical point-of-sales terminal business and is planning to roll out PoS machines at merchant outlets across the country, according to two people in the know of the matter. The payments player, which was using QR codes to ramp up offline digital payments, is now opening card payments at merchant locations as well. |
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Paytm crosses $29bn in gross transactions run rate
Posted on 1st June 2018 |
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Digital payments major Paytm today said it has crossed an annual gross transaction run-rate of USD 29 billion, driven by growth across mobile payments and bank transfers through its platform. A Paytm spokesperson said the company is witnessing strong growth in both mobile payments usage as well as transactions through bank transfers, which has been recently introduced. “We are already seeing a GTV (gross transaction value) run rate of USD 29 billion. |
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We do not share user data with third-parties or government, says Paytm
Posted on 26th May 2018 |
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Digital payments company Paytm today said it does not share data of its users with any third-party or government. “We never share your (user) data with anyone: any company/ any government or any country. At Paytm, your data is yours. Not ours, or of a third party, or of the government,” Paytm said in a blogpsot today. It added that its policy allows only legally-compliant data requests from the law of the land to get access to data for necessary investigations. |
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Paytm acquires Chennai-based TicketNew for $40 million
Posted on 23rd May 2018 |
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New Delhi: Paytm, the brand owned by One97 Communications, has acquired Orbgen Technologies, the entity that operates Chennai-based online ticketing platform TicketNew. Sources put the deal size at around $40 million. Last year TicketNew raised Rs 1.2 billion from Chinese e-commerce giant Alibaba. With this acquisition, Paytm hopes to take on major players such as BookMyShow. According to the company, the acquisition will help it attain leadership status in south India. |
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Paytm may process Rs 600 bn in monthly bank transfers by end of this year
Posted on 14th May 2018 |
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One97 Communications, the company that owns Paytm, plans to process Rs 600 billion in monthly bank transfers by the end of this year. The company is also planning to invest Rs 50 billion in its core business, expecting to increase the number of transactions from a billion to 2 billion. |
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Walmart-Flipkart deal a ‘perfect’ answer to those dismissive of Indian startups: Paytm’s Vijay Shekhar Sharma
Posted on 11th May 2018 |
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Walmart Flipkart deal: After the world’s largest retailer Walmart picked up a 77% stake in homegrown giant Flipkart, online czar Vijay Shekhar Sharma of Paytm called it a perfect answer to those who were dismissive of Indian start-ups. Commenting on the humoungous valuation garnered by Flipkart in the deal, Vijay Shekhar Sharma tweeted, “This is 1 Lakh crore+, all cash deal ! vI call it, perfect answer to those who were dismissive of Indian startups in an open-for-all market. |
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Paytm Mall takes the fight offline, plans to invest $30 mn in 2018
Posted on 3rd May 2018 |
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Taking the offline route to take on e-commerce biggies such as Flipkart and Amazon, Paytm Mall, which completed a year in April, is planning to invest $30 million over the year. It will develop and roll-out connected Point of Sale (PoS) solutions across 100,000 retail stores. The PoS is a software-based system, which can be used on any smartphone or tablet. Shopkeepers can also take a PoS machine that Paytm Mall would provide for rent. |
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