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. BUT if I pay with PayTM I get Rs 75/- Back !!!! Mad mad when will this funding revenues with cash back and discounts and paying out of Equity money end,” asked Screwvala tagging Paytm in the post. Vijay Shekhar Sharma responded saying that Rs 75 cashback was not bad CAC (Customer Acquisition Cost) for a customer like Ronnie Screwvala. “Thanks Vijay. But I will be a customer only till I get free money back and not thereafter – ever – so how will you ever make money OFF me – the reason your willing to feel I am a good future customer …this is the part I don’t get … and I am not old world so just wondering,” tweeted Ronnie Screwvala. In response to this, Vijay Shekhar Sharma agreed that not everyone who came to party will be a long term friend. “That said, a question for you as a communication person: what should be on counter message/ offering that makes customer pull out phone and try the product once. Cashback does work, what else is possible?” asked Paytm’s boss. The exchange continued with Ronnie Screwvala saying that he can’t offer advise as Paytm has done great by attracting Scale capital and also built a team mandated to grow the market and build revenues. “My submission/learning is-in India once given free (or cash back) its impossible to convert + what works for alibaba in China will not work in India,” he noted. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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