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July 9, 2024

On the wires

India’s Paytm Gets Government Panel Nod to Invest in Payments Arm, Sources Say


"India's beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations."

February 1, 2024

On the wires

September 8, 2022

On the web

Paytm Labs Launches ML-Powered Fraud Risk Management Platform

SecurityBrief Asia

“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.”

August 12, 2022

On the web

Paytm to Align Loan Repayments to Lender Bank Accounts to Adhere to RBI Guidelines


“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.”

May 23, 2022

On the web

Paytm is Losing Appeal Despite Ambitious Growth Plans and Past Success


“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.”

March 1, 2021

On the web

Paytm Claims Top Spot in India’s Mobile Payments Market With 1.2B Monthly Transactions


“Paytm, India’s most valuable startup , said on Monday it processed 1.2 billion transactions in the month of February, illustrating the level of penetration it has made in one of the world’s fastest-growing payments markets where it competes with Google, Facebook, Amazon and Flipkart-backed PhonePe . Paytm said its users made 1.2 billion transactions last month across several payments modes, including wallets, plastic cards, internet banking and UPI. This is the largest volume of transactions reported by any payments firm in India and Paytm claimed that it has consolidated its leadership position.”

January 14, 2021

On the web

UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm


UBS Group AG is in talks to invest $400 million in Paytm, the most valuable Indian startup, in a bet on the surging digital payments market in the world’s second-most populous country, people with knowledge of the matter said.    A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients, according to the people, who asked not to be identified because the information is private.”

November 30, 2020

On the web

Paytm announces 0% fee on wallet payments for merchants


“Fintech major Paytm on Thursday announced that that merchants can now receive unlimited payments through Paytm Wallet at 0% fee, along with UPI and Rupay Cards. “The move will benefit more than 17 million merchants who will enjoy a 0% fee on all their digital payments with direct settlement in their bank accounts,” the company said in a statement.”

October 19, 2020

On the web

October 13, 2020

On the web

September 23, 2020

On the web

Payments Giant Paytm Says Google’s Android Monopoly is of Grave Concern to Indian Start-Ups


Google’s monopoly over Android — the mobile operating system used by most smartphones around the world — is a major concern for Indian start-ups, a top executive at online payments firm Paytm said Tuesday.  Paytm has become a ubiquitous name in India’s digital payments sector. The mobile app is used by millions of Indians to pay for things including utility bills, groceries, recharging mobile connections, or movie tickets. Paytm is also a fully licensed digital bank.”

September 18, 2020

On the web

Google Pulls India’s Paytm App from Play Store for Repeat Policy Violations


Paytm app is back on the Google Play Store. Our original story follows. Google has pulled the popular Indian financial services app Paytm from the Play Store for violating its gambling policies. Paytm is India’s most valuable startup and claims over 50 million monthly active users. Its marquee app, which competes with Google Pay in India, disappeared from the Play Store in the country earlier Friday.”

July 24, 2020

On the web

Paytm to Offer Stock Broking Services Soon

The Economic Times

“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.””

July 10, 2020

On the web

Paytm Launches WeChat-like Platform for Businesses


“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.”

Paytm Video KYC: Paytm Introduces In-app Video KYC

The Times of India

“Paytm Payments Bank Ltd (PPBL) will allow account-holders to complete their KYC formalities over mobile video. This follows the Reserve Bank of India’s decision to allow video KYC for completing the process remotely using the bank’s mobile application.  Customers can connect using a vide call between 9 am and 8 pm without leaving their homes or having any bank representatives come over during the pandemic.”

July 7, 2020

On the web

April 28, 2020

On the web

Paytm Builds ‘Contactless In-store Ordering’ Solution for Restaurants After Lockdown


“Paytm on Monday said it has developed a ‘contactless in-store ordering’ solution to help restaurants and eateries minimise physical contacts for menu, billing and cash transactions after these businesses open after the lockdown. The digital payments major aims to onboard over one lakh restaurants for the solution. It is looking at tapping into top-30 cities to start with, and then rolling out to other cities.”p

April 21, 2020

On the web

Paytm Cuts Losses 20% As E-pays Fall

The Times of India

“Paytm has started curbing expenditure amid the pandemic to extend its runway. The e-payments major — India’s most valued startup at $16 billion — has been cutting costs at a rate of 15-20% in the last two months, founder and CEO Vijay Shekhar Sharma told TOI in an exclusive interview earlier this month. The development comes even as digital payments across channels — Unified Payments Interface (UPI), e-wallets and debit/credit cards — are down by 30-40%. Consumers have not been spending on several use cases online, apart from getting essential services, as the economy takes a hit due to the Covid-19 lockdown.”

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