Vijay Shekhar Sharma | Pixr8 News

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...

27Mar By Sheldan RungasamyNo Comments

FUNDING

The Ken Raises INR 1.47 Cr Funding

The Ken, a digital business news platform from Bangalore received a funding of INR 1.47 Cr from a group of investors that includes Siddharth Bhammar (Executive Director-JP Morgan), Anchal Jain (Portfolio Manager – Balyasny Asset Management) and Murali A (MD – Graticule Asset Management Asia). Kenrise Media Private Limited, the parent company of The Ken prepared 688 redeemable preference shares of INR 20 per share at a premium of INR 21,386.15 each. Back in February 2017, the business website was able to receive an angel funding worth INR 2.59 Cr from famous angel investors such as Aprameya Radhakrishna (co-founder of TaxiForSure), Girish Mathrubhootham (CEO of Freshdesk) and Vijay Shekhar Sharma (Paytm founder) among others. Mahesh Murthy, co-founder of early-stage investment comp...

Why Vijay Shekhar Sharma concern may be Valid For Whatsapp Pay Feature

19Feb By Sabhyata AgarwalNo Comments

News

Why Vijay Shekhar Sharma concern may be Valid For Whatsapp Pay Feature

The day since the popular messaging app WhatsApp rolled out its digital payment feature, everybody but the founder and CEO of Paytm is not happy. However, maybe its all for the right reasons. WhatsApp, the Facebook owned application announced its entry in the electronic payment space with the feature that allows peer-to-peer money transfer through the messaging app. The payment service is launched in the beta version of WhatsApp for selected users on trial basis. The feature of the messaging platform, that is a fruit to its 200 million users in India with no Login ID and Password, is facing wrath of Vijay Shekhar Sharma, the founder and CEO of the most used digital payment application all over India, Paytm. The founder of Paytm is angry with Facebook and taking a jibe on the forme...

Valued at $10B, Paytm’s 200 Employees Become Millionaires

29Jan By RishabhNo Comments

BUSINESS

Valued at $10B, Paytm’s 200 Employees Become Millionaires

One97 Communication owned, payments and gateway company Paytm is now valued at $10 billion. As a result, the existing and former Paytm employees have been able to liquidate their vested ESOPS (employee stock ownership plan) by selling them to new investors including undisclosed family offices. Over 200 employees of the company liquidated their shares for Rs 300 crore. Earlier the company was valued at $7 billion when it raised $1.4 billion from SoftBank Group. This valuation has made Paytm, the second most valued startup after Flipkart, which is valued somewhere close to $12 billion. A similar sale round occurred early last year where a 100-crore employee liquidity event took place. Till now around 200 Paytm former and existing employees have been able to sell shares for Rs 500 c...

22Jan By AnkitaNo Comments

News

Paytm Launch Business App For Merchants

Noida based Paytm has launched ‘Paytm for Business’ app on the Google Play Store. This new app will allow our merchants and business partners to track payments instantly, navigate through the past collections and track settlements made to their preferred bank accounts. They can also generate their Paytm QR through the app, print it and put it up in their shops. However, the app was launched on 28th December and received 5 million downloads, which itself shows the popularity of app among merchants. It's available in more than 10 regional languages. The App empowers business owners to do a paperless and instant on-boarding and get started to accept payments instantly for zero charges (0% commission). Merchants can now view their transactions without the need to wait for a confirmation S...

Deals Platforms Nearbuy, Little Internet Merge Operations

7Dec By Press Trust of IndiaNo Comments

ACQUISITION

Deals Platforms Nearbuy, Little Internet Merge Operations

Deals platforms Nearbuy and Little Internet have merged their operations with Paytm picking up a majority stake in this combined entity, the financial services platform said today. "Paytms strategic holding in Nearbuy-Little will provide Paytms merchant partners an opportunity to offer deals to acquire new customers and grow their business," Paytm said in a statement. Financial details of the deal were not disclosed. Paytm was an existing investor in Little. The deal will create India?s largest discovery and deals platform for local merchants, it said. Existing shareholders of Nearbuy, including Sequoia India, will also become shareholders of the merged entity, it added. Nearbuy and Little work with over 40,000 merchants across categories like food, beauty and travel. Pay...

Ecommerce Giant Alibaba Sees India As ‘Very Important’

13Nov By PriyankaNo Comments

News

Ecommerce Giant Alibaba Sees India As ‘Very Important’

[dropcap]C[/dropcap]hinese e-commerce giant Alibaba's CEO Daniel Zhang said that their company sees India as a "very important" market, on occasion of the 11/11 Global Shopping Festival. “Globalisation is one of our key strategies for Alibaba. As part of this strategy, India is a very important topic. India is a very important market for us to look at,” said Daniel Zhang. “Before entering any new market, we ask ourselves how we can help the local market. For a market like India, the key aspect of our strategy is to help the local enterprises grow,” he added. It's biggest bet in India, which costed them an investment of $1.4 billion in the payments wallet, is something the company is "happy" about. Also Recommended Uber Locks On Multibillion Dollar Deal With Japanese SoftBan...

Mobile Wallets Will Become Strong Players: Paytm Official

27Oct By Press Trust of IndiaNo Comments

ANALYSIS

Mobile Wallets Will Become Strong Players: Paytm Official

Mobile wallets will become strong players in the financial ecosystem as the RBI guidelines on prepaid instruments will allow more features like unlimited transfer of funds between a bank account and a wallet, a top official of Paytm Payments Bank said. Paytm Payments Bank MD-CEO Renu Satti said the RBI guidelines released this month will enable mobile wallets to gain access to more functionalities like unlimited transfer of funds between a bank account and a wallet and higher limit of up to Rs 1 lakh for money transfer to beneficiary accounts. She added that as part of Paytm Payments Bank, customers get the convenience of wallets and can earn interest on their deposits by transferring money from the wallet to their payments bank account. "This will further strengthen the value propo...

Paytm Crossed Rs 10,000 Cr Transactions This Diwali Season

24Oct By PriyankaNo Comments

News

Paytm Crossed Rs 10,000 Cr Transactions This Diwali Season

Paytm on Monday said that transactions on its platform crossed $1.6 billion during the Diwali season, which was three-and-half times more than it did last year. Volumes during the month-long period ended 20 October were driven by the food and transportation categories, while increase in payments at mom-and-pop stores through the Paytm app also contributed to the surge, the company said in a statement as per the source Mint. “Mobile payments have become mainstream over the last few quarters. Owing to the convenience and security, people prefer Paytm to card and other modes of payments,” Paytm chief operating officer Kiran Vasireddy said in the statement. According to the data from RBI the net transactions in the month of August touched Rs 45,710 crore through Debit and Credit cards, Rs...

Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17

10Oct By AnkitaNo Comments

BUSINESS

Paytm Mall Reports Net Loss of Rs 13.63 Cr in 2016-17

Paytm Mall reported a net loss of Rs 13.63 crore on total sales of Rs 7.35 crore between August 2016 and 31 March 2017, as per the filings with Registrar of Companies (RoC). Total expenditure was Rs20 crore, while reserves and surplus stood at Rs1,284 crore, the filings showed. Paytm Mall spun off as a separate entity earlier this year and stated that since it has recently started its operations, it should not be seen as a loss but an investment. "These are the initial years for Paytm Mall and we have a long-term perspective on building a successful tech business. We will help customers receive the same trusted retail experience synonymous with our brand and act as a technology enabler for the country's massive offline retailer community. We will achieve this with our first-of-its-k...

Paytm In Talks To Acquire Online Travel Company Via.com

19Sep By PriyankaNo Comments

ACQUISITION

Paytm In Talks To Acquire Online Travel Company Via.com

One97 Communications' Paytm is in discussions and likely to acquire online travel company Via.com as it doubles down on its travel and hospitality business. Paytm has held preliminary discussions although a term-sheet is yet to be signed, according to some people aware of the developments. The valuation of Via.com could could hit as high as $80 million for the sale, according to the source VCCircle. Bengaluru-based Via.com, backed by venture capital investors including IndoUS Venture Partners and Sequoia Capital, had earlier raised about $15 million in funding. The company was founded in 2007, formerly known as FlightRaja has 100,000 active travel partners across 2,600 towns and cities, and covers more than 13,000 pin codes across Asia. RELATED Paytm In Talks To Acq...

Paytm Payments Bank In Early Talks To Partner With Full-Service Banks

1Sep By AnkitaNo Comments

BUSINESS

Paytm Payments Bank In Early Talks To Partner With Full-Service Banks

India’s Paytm Payments Bank is in talks to partner with full-service banks to offer services such as loans and term deposits which it cannot do on its own due to regulatory restrictions, its chief executive told Reuters. Payments banks are niche banks that were allowed by the Reserve Bank of India in a bid to expand access to financial services in Asia’s third-largest economy where millions don’t have a bank account. RELATED Paytm Starts Payments Bank, Will Offer 4% Interest Rate The payments banks can take savings deposits and remittances but are not permitted to lend. “Anything which we cannot offer, we will be partnering with the banks. Whether it’s going to be a loan, or a credit card, or a term deposit, and other services,” said Renu Satti, CEO o...