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FreeCharge Crosses 500 Million Transactions

28Jun By PriyankaNo Comments

News

FreeCharge Crosses 500 Million Transactions

Bangalore, Karnataka, India- Amidst increasing digital payments preference and awareness amongst consumers, FreeCharge today announced that the number of transactions on its platform has crossed 500 million, with the value of these transactions exceeding USD 1.2 billion. Mobile recharges remain the biggest component of the transactions done on FreeCharge. Apart from recharges, nearly 20% of the wallet transactions happening on the platform are on one of the company’s online merchant partners. This is closely followed by offline partnerships wherein Fuel and Food are the top two categories driving adoption and transaction. The company also recently announced the launch of coupons on its e-wallet to enhance user engagement, where users can benefit from every recharge and bill...

HDFC Bank Chief Aditya Puri Says Wallet Players Like Paytm Have No Future

18Feb By NitishNo Comments

Entrepreneurs Talk

HDFC Bank Chief Aditya Puri Says Wallet Players Like Paytm Have No Future

In one of the sharpest comments against prepaid wallets like Paytm, HDFC Bank chief Aditya Puri today said such companies which hold on to customers through cash-backs are loss-making and have "no future". "I think wallets have no future. There is not enough margin in the payment business for the wallets to have a future," Puri, the managing director and chief executive of the second largest private sector lender, said at the annual Nasscom summit here. "Wallets as a valid economic proposition is doubtful. There is no money in the payments business. The current loss reported by market leader Paytm is Rs 1,651 crore. You cannot have a business that says pay a Rs 500 bill and take Rs 250 cash-back," Puri said. Wallet companies cannot "copy" the "Alibaba model" as well, as the domest...

Has Demonetization Really Helped In Growth Of Paytm?

9Dec By Ankita SinghNo Comments

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Has Demonetization Really Helped In Growth Of Paytm?

December 9, 2016- Now wherever we go, whether its small shops or a big store, we see a Scanning code on the wall with "Paytm logo" which says PAYTM KARO. Paytm is an online payment transaction company that has been highly popular after the "Demonetization". After the Demonetization news was announced, on the next morning Paytm ads were carried on the first page of major newspapers of India. So the common question arises "Does really Paytm have gained beneficiary after demonetization"? As per sources, Paytm was seeking to raise money in August at a valuation of $5 billion. After demonetization Paytm transaction touched 5 million in a day regularly. Paytm transaction total hit Rs 24,000 crore a day and the company registered a 700% increase in overall traffic and 1000%percent growth to Pa...

Paytm to Complete 2 Billion Transactions This Year: VSS, Paytm CEO

8Dec By AdityaNo Comments

Entrepreneurs Talk

Paytm to Complete 2 Billion Transactions This Year: VSS, Paytm CEO

On its way to complete two billion transactions this year surpassing its own expectations, Digital payments platform Paytm today said it aims to become universal payments app across every bank account. The company also said it aspires to enter the US market in the long run as it sees an opportunity there. "Today Paytm is on the way to complete 2 billion transactions this year. I personally did not expect 2016 to end on such number. Our numbers are at 2 billion transactions this year, which in turn will enable us to become really the transaction layer on top of every bank account," Paytm Founder and CEO Vijay Shekhar Sharma told reporters here. He said, "With connectivity with the UPI (Unified Payment Interface)we will become the payment app for every bank account. With UPI support Paytm ...