“Paytm Labs, the advanced R&D division of fintech giant Paytm, has launched Pi, an ML-powered fraud risk management (FRM) platform designed for fintechs, banks and eCommerce marketplaces with high transaction volumes. Pi was developed from scratch at its innovation lab. The company states existing fraud management systems were not fast enough or robust enough to handle the hundreds of millions of decisions required each day by Paytm. Pi is now handling five billion rule evaluations and 500 million decisions each day and is in use among some of the world’s largest fintechs. Those include PayPay, a mobile money solution that is also Japan’s largest mobile payment app with 38 million users. In addition, it’s in use among several of Paytm’s key financial properties including Paytm Payments Bank, Paytm Money and Paytm First Games.”

“Digital payments and financial services player Paytm said on August 11 that the company will be changing its internal systems to ensure that loan disbursals and repayments are routed directly to and from the bank accounts of the borrowers and the lending partners, as per the latest Reserve Bank of India (RBI) approved norms for digital lenders…Paytm, like most fintechs, acts as a technology service provider for customers to avail loans that are disbursed by its lending partners…In the recommendations by the Working Group on Digital Lending that the RBI accepted for implementation on August 10, the regulator said that all loan disbursals and repayments are required to be executed only between the bank accounts of borrower and the registered lender without any pass-through/pool account of the loan service provider (LSP) or any third party.”

“Paytm has been successful in the past decade, thanks primarily to the growing digitization trend in India. It also benefited from the demonetization initiative of the Government of India in 2016, followed by the pandemic in 2020. However, it encountered opposition from competitors in its core themes—from Google Pay and PhonePe in mobile payments and from Amazon, Flipkart, and Reliance in ecommerce.”

“Paytm users will have to pay a 2 per cent fee on the amount added to their e-wallet using a credit card. Until now, users had to pay 2 per cent fee if they loaded more than Rs 10,000 in their e-wallets via credit card in a month.”

“Paytm founder Vijay Shekhar Sharma, on Thursday, said that the company is going to launch stock brokerage services in a few weeks. In a fireside chat with Rajan Anandan, MD, Sequoia Capital India, in the ongoing Global Fintech Fest, Sharma said, “Payments has been the largest revenue for us. Thereafter, we started our e-commerce business and financial services stack such as insurance and we hope to do lending. Then we have our mutual fund business and we hope to do stock brokerage soon which we will be launching in a few weeks.””

“Businesses now have a new platform to promote their offerings. Payments player Paytm has launched ‘Paytm Mini Programs’ that enables businesses to showcase their products and services to its user base. This is similar to the WeChat Mini Apps Programs and allows a mobile website or web app to integrate with Paytm’s Mini Programs platform. At present, more than half a dozen brands including Faasos, Practo, 1mg, Magicpin, Park+ and Zoomcar are using Paytm Mini Programs.”