Wednesday, November 6

Tag: Paytm mobile wallet

Paytm UPI Transaction Acquire 40% of Market Share
News

Paytm UPI Transaction Acquire 40% of Market Share

Despite February being the shortest of the month, UPI (Unified Payments Interface) has seen a massive rise in the use of service. Indeed, in India alone, 170 million transactions has been made across the multiple mobile payment platforms available. UPI allows individuals to perform instant money transfer across different banks through their mobile phones. Paytm claims to be the highest contributor to the rising amount of UPI transaction in the country with over 6.8 Cr transactions in the month of February alone, the company announced in a note. As such, the Indian mobile wallet application claims the most shares of this new market with over 40% users utilizing this interface. “We have the largest share of UPI transactions within three months of launch,” said Deepak Abbot, senior vice-pr...
Paytm buys home services marketplace Near.in
ACQUISITION

Paytm buys home services marketplace Near.in

Mobile wallet and e-commerce venture Paytm has acquired Near.in, a marketplace app that connects users with local businesses for home services. The Economic Times, which first reported the development, said the deal is valued between $1.5 million and $2 million. A formal press release on the announcement is expected shortly. he Paytm-Near.in deal is the latest instance of consolidation in the online home services segment. Last month, Mumbai-based Crenovative Ideas Pvt Ltd, which operates home services startup Taskbob, acquired Zepper Services Pvt Ltd. The acquisition allows Paytm, run by One 97 Communication Ltd, to strengthen its tentacles in the online-to-offline (O2O) commerce space. "O2O is a focus area for Paytm. Local commerce has massive potential in India, and this acqu...