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Paytm Appointed Alibaba’s Former Executive as President

25Mar By AnkitaNo Comments

News

Paytm Appointed Alibaba’s Former Executive as President

Paytm, India's mobile payment and commerce platform has appointed ex-head of Alibaba Group Holding's wholesale business, Bhushan Patil as the company's new President. Bhushan Patil joins Paytm as President after serving 5.5 years at the Chinese company, where he was handling operations of Alibaba.com. He will now focus on building Paytm's cross border commerce. At the largest B2B marketplace, Bhushan was instrumental at leading new initiatives for Global Markets business development across SME linked associations, Banks and Government trade organizations, local trade services and e-companies. As a major accomplishment he incepted, led and launched B2B Trade-Trust products across 50 countries in Asia/Europe and Americas and was instrumental developing new India plans for Alibaba.co...

Paytm Ties up with PVR To Sell Movie Tickets

21Mar By Press Trust of IndiaNo Comments

BUSINESS

Paytm Ties up with PVR To Sell Movie Tickets

PVR plans to sell movie tickets worth Rs 250-300 crore using Paytm's platform in the first year of their association as the two firms tied up today to sell cinema tickets. The two firms today announced to bring PVR's movie tickets to Paytm's e-commerce platform as the latter forays into the online movie ticket segment. "In the first year of this relationship, PVR targets to sell tickets worth Rs 2.5-3 billion on Paytm's e-commerce platform besides selling tickets from the box offices and other channels", PVR and Paytm said in a joint statement. Paytm said it is aggressively extending its presence in new verticals as part of its strategy to be ubiquitous in daily life of its customers. "Paytm has set aggressive targets for itself and intends to double the share of online movie ticke...

Now Recharge Your Delhi Metro Card Using Paytm!

4Mar By RishabhNo Comments

News

Now Recharge Your Delhi Metro Card Using Paytm!

The next time you’re taking a ride in Delhi Metro, and run out of credits in your metro card, use Paytm to recharge! Now ride in Delhi Metro hustle free and without the tension of getting your time killed in the long queues for recharging your metro card. It’s time to shun the long queues at Delhi Metro Rail Corporation(DMRC) ticket counters. Now, Delhi Metro travelers will be able to recharge their metro cards via Paytm on the go! (more…)

Flipkart Shuts It's Groceries Delivery App Nearby

26Feb By PriyankaNo Comments

News

Flipkart Shuts It's Groceries Delivery App Nearby

A month later, Mukesh Bansal and Ankit Nagori resignation India’s largest e-commerce firm Flipkart shuts it's groceries delivery app, Nearby. The company Nearby was five months old. Paytm, operated by One97 Communications Ltd, also closed its grocery service in June because of poor demand. The Nearby app was launched as an experiment by Flipkart in Bengaluru in October. The company promised to deliver fruits, vegetables, soaps and other staples from supermarkets to customers within an hour of receiving an order. On 11 January, Flipkart named co-founder Binny as CEO, replacing Sachin Bansal, in a move that it claimed would strengthen its management bandwidth as it seeks to combat archrival Amazon India and kick off preparations for an expected initial public offering (IPO) over the...

Aditya Birla Retail To Offer Mobile Wallet ‘Paytm’ Across 500 Stores

23Feb By NitishNo Comments

News

Aditya Birla Retail To Offer Mobile Wallet ‘Paytm’ Across 500 Stores

Indian multinational conglomerate, Aditya Birla Group has tied up with Paytm to offer its customers an easily accessible prepaid wallet to make payments for their food and grocery purchases at across 500 stores. The tie-up will be active across 'More' stores operational at 137 cities. The tie up will enable shoppers to save time with faster shopping experience, use their reward points easily and enjoy Paytm's cashbacks in addition to More's own offers and promotions. Vishak Kumar CEO, Aditya Birla Retail Limited said, "We are happy to announce our association with Paytm. Now our customers can shop with ease and convenience through the use of their Paytm Wallets and also earn attractive discounts and cash-backs at our stores across the country. "We are delighted to partner with ' More'...

Paytm Scraps Transaction Fee For Offline Merchants, Last year Transaction was $120 million

17Feb By NitishNo Comments

News

Paytm Scraps Transaction Fee For Offline Merchants, Last year Transaction was $120 million

Paytm, India's leading Mobile wallet and e-commerce firm scrapped 'per transaction fee' for consumer-to-merchant offline wallet transactions, a move to boost digital money transfer on the platform. The fee ranged from 0.5% to 1.75%, depending on the merchant service provider. "Often these charges discourage a merchant to accept a digital transaction and they end up asking the consumer to bear the cost, which is illegal," said Nitin Misra, payment products head at Paytm. "By eliminating this cost, we are looking at an opportunity to digitise that 95% of India which still deals in cash," he added. "We have crossed credit card transactions and today 95 out of 100 wallets are Paytm," said Misra. "In our business, I think we have reached a sweet spot. We have a payment business, we have a m...

Big Blow For Paytm & Mobikwik- IRCTC Barred Usage of E-wallets between 8AM to 12PM

30Jan By AnkitaNo Comments

News

Big Blow For Paytm & Mobikwik- IRCTC Barred Usage of E-wallets between 8AM to 12PM

The railway ministry on Thursday announced new rules for booking of online tickets through the IRCTC website, which will be effective from February 15. It has barred usage of e-wallets and cash cards between 8 am and 12 noon, besides reducing the maximum number of ticket bookings allowed to an individual user to six in a month from the current 10. The ministry of railways’ decision could affect Paytm and Mobikwik’s plans to get train travellers to use their mobile wallets. Only last month Gurgaon-based One MobiKwik Systems Pvt Ltd, which runs Mobikwik, had said that it expects to facilitate railway ticket bookings worth Rs 1.75 crore in the next six months. Indian Railways had chosen Mobikwik as its primary wallet for IRCTC Connect Android App. Paytm, run by One97 Communications L...

PAYTM FINANCIALS: ONE97’S REVENUE AT INR 337 CR, LOSS AT INR 372 CR IN FY 14-15

29Jan By No Comments

ANALYSIS

PAYTM FINANCIALS: ONE97’S REVENUE AT INR 337 CR, LOSS AT INR 372 CR IN FY 14-15

It’s raining discounts on anything and everything you can buy at Paytm. What started out as an online mobile recharge site has transformed into a mobile retail marketplace. Add to it the Paytm wallet and the company offers a complete package to its users. INCORPORATED IN 2000 REVENUE FY 14-15 INR 337 CR LOSS FY 14-15 INR 372 CR FUNDS RAISED INR 4383 CR ABOUT PAYTM Paytm was founded by Vijay Shekhar Sharma in 2010 and is owned and operated by One 97 Communications Limited. It offers a mobile commerce platform that enables the users to do mobile recharge, pay bills and shop at the mobile marketplace. The mobile wallet also allows the users to transfer money, avail deals, pay cab fares and book movie tickets. Other services offered by One...

Nearly 700 Startup Founders Urge PM Modi to Defend Net Neutrality

27Jan By Press Trust of IndiaNo Comments

News

Nearly 700 Startup Founders Urge PM Modi to Defend Net Neutrality

NEW DELHI- Hundreds of startups, including bigger players like Zomato, Cleartrip, Paytm and their employees, have approached Prime Minister Narendra Modi to defend net neutrality, which they define it as access to content on the internet without any discrimination. "We urge you to ensure that the recently announced initiative, Start-Up India, addresses the concern of net neutrality, with clearly defined policies and firm rules," the letter said. Around 500 people have signed the letter including Zomato founder Deepinder Goyal, Cleartrip founder Hrush Bhatt, XYSEC LABS founder Subho Halder, iSPIRT Foundation co-founder Sharad Sharma and Paytm founder Vijay Shekhar Sharma. There are 1,467 signatories to the letter, including 681 founders of various startups. Startups expressed gr...

Meet Baap of Paytm – Vijay Shekhar Sharma

9Jan By RishabhNo Comments

News

Meet Baap of Paytm – Vijay Shekhar Sharma

“I feel I am in my teens, and Paytm is my infatuation.”, said Vijay Shekhar Verma while he was shown in trailer made by MindBatteries. Mindbatteries is a video content creating company started a entrepreneur series called Startupreneur Series. According to Simar, Head of Mindbatteries "Our planning is to create interview of startup founders video series in fun and candid manner. [youtube https://www.youtube.com/watch?v=8fbhK3FKQF8] Vijay Shekhar Sharma is the founder and CEO of One97/Paytm, who is one such an Indian entrepreneur who has reached the heights of success before even reaching 40. The video shows his journey from being a small-town boy from Aligarh to building such a Billion Dollar giant. He owes his success to no one. It is just the result of his hard and smart work...

4Jan By AdityaNo Comments

ACQUISITION

O2O Strategy: Paytm acquired Shifu App In An $8-million (Rs 53-crore) Deal

Shifu an app to predict consumer preferences and behaviour has been acquired by Paytm. The Application was started 2 Years ago by a team of three: Prashant Singh the Product Development guy, Michael Massey the magician with Server and Analytics, and Deepansh Jain who heads Client Side Development. The best time to plant a tree was twenty years ago. The second best time is today Posted by Prashant Singh on Saturday, January 2, 2016 ALSO READ: Meet Shifu – App for digital assistant For Paytm, the acquisition is in line with its plan to invest about $150 million in emerging companies to build a complete digital ecosystem. "Ventures in O2O (offline-to-online) and last-mile delivery, and platforms that can solve consumer problems are ...

“Amazon, Flipkart, Snapdeal, Paytm” , Big 4’s App Performance in 2015 by Deepak Abbot

31Dec By Deepak AbbotNo Comments

ANALYSIS

“Amazon, Flipkart, Snapdeal, Paytm” , Big 4’s App Performance in 2015 by Deepak Abbot

Following up on my last year’s post on Mobile Commerce, I decided to focus only on Big 4 this time primarily due to lack of time. Here is what I published in Dec 2014: Mobile Commerce Growth in 2014 - It's An App World Let's take a visual look at how some of the top mobile commerce Apps of India grew in the year 2014, which also points…growthbug.com The numbers shown below are based on my formula based on publicly available data. Plus I have used all the free sources of data (non-paid) available from popular App store analytics platforms. The charts below are only for Android, which IMO would be 85% of all App traffic. Flipkart maintained its leadership in 2015: Flipkart grew 2x: Returning users: Month 2 retention seems to be the biggest concern for all: Num...