Paytm Mall goes after fraud merchants; ropes in E&Y to build tech system before going global
Posted on 13th May 2019 |
.jpg) |
| 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”. The system will help identify fraud merchants which Paytm Mall will then weed out. E&Y uses human and Artificial Intelligence (AI) to undertake audit and fraud prevention, Paytm Mall said. Paytm Mall’s Senior Vice President Srinivas Mothey reiterated the company’s commitment towards building a trusted e-commerce platform. “Our teams continue to work closely with E&Y to share our learnings and insights,” he added. The company has witnessed over 200% growth in the last 6 months. Recently, it got into a partnership with French car-maker Renault to make car-bookings available online. The customers of Paytm Mall can book three Renault cars under the partnership. By submitting token money of Rs 10,000, customers can confirm the booking. Srinivas Mothey had earlier said that the move will enable customers throughout the country to research, compare and even book their favourite car from the comfort of their home or office 24×7. Paytm Mall had recently launched an automated payment service for its merchants. The feature allows automatic collection of payments for subscription services availed by the consumers. According to Paytm Mall, it had processed 400 million monthly transactions through its payment gateway. Paytm Mall is reportedly in discussions with investors to raise $500 million, Financial Express had earlier reported citing sources. With this, the e-commerce platform looks to build Paytm Mall’s O2O (online-to-offline) strategy, which will help the company in overtaking e-commerce giants Amazon and Flipkart. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
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. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
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. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
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). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
|
|
| Be the first person to write a business review for Paytm Mall goes after fraud merchants; ropes in E&Y to build tech system before going global |
|
|
|
