Monday, May 6

Tag: paytm

Cobrapost Sting Accuses Paytm for Sharing Data with PMO
27May By Gauri SinghNo Comments
News

Cobrapost Sting Accuses Paytm for Sharing Data with PMO

Cobrapost news portal conducted a sting operation and it claimed the digital wallet firm, Paytm has breached the user’s privacy by sharing user data related to the details of the protestors in the Kashmir Valley with the Prime Minister’s Office (PMO) on receiving orders from them. In the 13 minutes long video, the cobrapost has exposed the senior Paytm members (Sudhanshu Gupta, Vice President; Ajay Shekhar Sharma, Sr. Vice President of Paytm) accepting that they have shared data with PMO after they got a call. This sting operation was a part of Cobrapost’s investigation ‘Operation-136 II’, in which Ajay Shekhar Sharma (brother of Paytm founder Operation-136 II) said that someone from the PMO asked for data of users to identify stone-pelters. Cobrapost's reporter Pushp Sharma used the...
Read More
Paytm Plans to Empower Rural Women in Financial Services
23May By Sheldan RungasamyNo Comments
News

Paytm Plans to Empower Rural Women in Financial Services

In an effort to encourage digital transition in rural areas of India, Paytm Payments Banks announced a programme named “Paytm AshaKiran” which aims at educating women hailing from the countryside about financial service and therefore create new employment opportunities in less developed regions of India. The first phase of this programme will consist of collaborating with the United Nations Development Program (UNDP) under its Disha project which is also supported by the IKEA Foundation and women-related organizations like SHEROES. The goal is to “mobilize self-help groups and organize workshops” in smaller cities and towns in the states of Maharashtra, Karnataka, Haryana, Andhra Pradesh and Uttar Pradesh. The initiative will develop rural women skills via a training programmes where...
Read More
Paytm Acquires Alibaba-Owned Ticketing Platform For $40 Mn
23May By Sheldan RungasamyNo Comments
ACQUISITION

Paytm Acquires Alibaba-Owned Ticketing Platform For $40 Mn

Paytm, the leading Indian online payments company announced the acquisition of Orbgen Technologies Pvt. Ltd., the firm that operates TicketNew, a ticketing platform based in Chennai. The cost of the deal has not been disclosed yet, but according to stock based transactions, the deal is estimated to have cost between $30-40 million. The deal will see Paytm acquiring the business from Alibaba Pictures, the entertainment channel of Chinese giant Alibaba Group, which bought a majority stake in Tickenew barely a year ago. The acquisition was made as Paytm wishes to connect its 300 Mn customers to TicketNew partner cinemas, which will additionally drive Paytm’s utility and revenues. “We are on a mission to be the one-stop destination for all movie and entertainment ticketing needs. It is o...
Read More
Paytm Mall Introduces No-cost EMI and Other Services to Expand E-commerce Penetration
21May By Lavina TolaniNo Comments
News

Paytm Mall Introduces No-cost EMI and Other Services to Expand E-commerce Penetration

Paytm Mall, The digital arm of e-commerce giant company Paytm has announced its plans to introduce an umbrella of new services such as no cost EMI, Extended Warranty on products, Device Insurance and Easy Exchange across its online platform as well as offline partner stores. Interestingly, the e-commerce arm of Paytm which received $450 million in funding from Alibaba and SoftBank is disbursing no-cost EMIs price Rs 1,000 crore throughout two million merchandise by the top of the subsequent quarter. In addition, it is partnering with 13 banks and monetary establishments for this transfer. Now with new additions to its portfolio, the company is looking forward to driving 25 % progress in gross income for its companion retail shops and achieve a dominating market share in smartphones a...
Read More
Paytm Launches Recurring Payments Feature “My Payments”
14May By Lavina TolaniNo Comments
News

Paytm Launches Recurring Payments Feature “My Payments”

Adding another feature to its Kitty, Digital Payment Major Paytm has come up with an automatic recurring payments feature that will allow recurring, high-value payment and other monthly expenses to happen in an instant. Titled as "My Payments", the feature enables bank transfers from/to bank account making it easier to make payments at no charge. Even non-KYC Paytm users can avail the facility.   Deepak Abbot, Senior Vice President, Paytm said, Our customers make regular recurring payments such as house rent, maid/driver’s salary, milk or newspaper vendor payments online. This has led to a major surge in our bank transfer service. We have now simplified these payments with ‘My Payments’ and are expecting 6X growth owing to this rapid shift in consumer behaviour in favour of ...
Read More
Paytm Will Invest $745 Million in Its Financial Services
7May By Sheldan RungasamyNo Comments
News

Paytm Will Invest $745 Million in Its Financial Services

Paytm, the digital payments giant is ready to bring its service to the next level with investment plans of over $745.16 Mn (INR 5,000 crore) in its central business. In an interview with ET, Founder and CEO of Paytm, Vijay Shekhar Sharma announced that the company is targeting to double the amount of transactions it records every quarter to 2 billion by the end of 2018. To achieve this target, Paytm will invest $745.16 Mn in payments and predominantly in the financial services. The focus on financial services is because “customer lifecycle is getting to the next level of maturity.” “It’s a logical extension as we worked on commerce last year like travel and ticketing, where we are just a few notches below market leaders. Our obligation will always remain to increase the market size ...
Read More
All You Need to Know About Neeraj Arora- The Man Rumoured to be Next WhatsApp CEO
3May By Lavina TolaniNo Comments
News

All You Need to Know About Neeraj Arora- The Man Rumoured to be Next WhatsApp CEO

While we have already reported exit of Jan Koum, the co-founder of social media messaging app WhatsApp leaving Facebook, the market is now buzzing with news regarding who could be the next CEO of the major technology giant. If reports are to be believed another Indian and a former Google employee "Neeraj Arora" could head the cross-messaging platform and is being considered for the top position. Company's "All Thing Business Guy", Neeraj Arora is an IIT graduate with a degree from the Indian School of Business. He gave up his prestigious top hierarchy job at M&A at Google to become a part of one of the hottest Silicon Valley Startups.   Neeraj started his career with a cloud solutions company in 2000, Accellion right after graduation and was one of the earliest engin...
Read More
Gurgaon Based Balance Management App Raises $23 Million
21Apr By NitishNo Comments
FUNDING

Gurgaon Based Balance Management App Raises $23 Million

Gurgaon based digital wallet and financial services platform True Balance raise $23 Million in a Series B funding. The company has raised total $38.6 Million funding so far. The funding will use towards talent acquisition and expanding benefits of need-based financial services. The funding saw the participation from Japan-based global messenger Line Ventures Corporation, Korean search engine Naver, leading Korean bank Shinhan Bank along with TS Investment and other partners. The app-based platform is planning to recruit from leading Indian educational institutes like Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) among others to improve its business & technology. True Balance is a balance management utility application that helps prepaid u...
Read More
5 Most Successful Entrepreneurial Stories: From Rags to Riches
3Apr By Lavina TolaniNo Comments
INSPIRATIONAL

5 Most Successful Entrepreneurial Stories: From Rags to Riches

"Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do." Entrepreneurship is surely not an easy task and comes with its own set of challenges and hardships, yet time and again successful entrepreneurs from around the world proved that winners never quit and quitters never win. At the end of the day, it depends on how far you are ready to go even the direst of circumstances. To help you kick off "work blues" and inspire you with some entrepreneurial greatness, we have come up with the most inspirational business success stories that emerged in the wake of personal struggles, diligent leaders, hard-won circumstances and paved the way for enlightening inspiration for the coming generations. &nbs...
Read More
Paytm App Undergoes Major Makeover!
3Apr By Sheldan RungasamyNo Comments
News

Paytm App Undergoes Major Makeover!

Paytm, the Indian payment gateway mammoth, has redesigned its app to make it more user friendly and spontaneous. The application update allows users to personalize the app and provide a better overall experience to the user by displaying the most used ways of customizing the app. Transferring money is also something that the Paytm engineers worked heavily upon by making it easier, simpler and faster. Furthermore, now Paytm will also offer instant transfers from a user’s Paytm Payments Bank account or Paytm wallet to any other bank without charge. The major feature of this new look is the possibility to make bank-to-bank transactions under the section of ‘Money Transfers.’ The payment gateway app provisioned a budget of Rs 250 crore to endorse money transfers and presumes that this new o...
Read More
Paytm Mall Raises $445 Mn Funding From SoftBank and Alibaba
3Apr By Sheldan RungasamyNo Comments
FUNDING

Paytm Mall Raises $445 Mn Funding From SoftBank and Alibaba

Paytm has been all over the landscape these past few weeks and days with major consecutive news announcements. This time, Paytm mall, the e-commerce daughter business of Paytm has raised over $445 Mn in funding from Japanese conglomerate SoftBank and Alibaba, the Chinese e-commerce giant. Regulatory filings reveal that SoftBank has been the major investor in this round, funding around $400 Mn of the total amount while Chinese company, Alibaba, fueled the rest. The first tranche of $55 Mn has already been sent to Paytm Mall’s account. Paytm Chief Operating Officer, Amit Sinha confirmed the news in a media statement saying, “This latest investment led by SoftBank and Alibaba reaffirms the strength of our business model, growth trajectory, execution capability and the potential of India...
Read More