New Delhi: Gearing up for the next phase of growth in consumer Internet and financial services, digital payments player Paytm on Monday announced the promotion of its Chief Financial Officer Madhur Deora as the company's President.
Prior to joining Paytm in October 2016, Deora served as Managing Director in Citigroup's investment banking business.
New Delhi: Digital payments firm Paytm on Thursday said it will invest Rs 750 crore to approximately double its monthly active user base on mobile to 250 million by March 2020.
The company expects its Paytm Inbox service to accelerate the growth as it has garnered 27 million monthly active users and expects additional 60-70 million new customers to come on board by end of the current fiscal year.
Top officials of Larsen and Toubro Ltd, HDFC Bank and Paytm have donated about Rs 15 crore to the Chief Ministers Relief Fund in Bihar.
A cheque of Rs 10 crore was presented to Chief Minister Nitish Kumar by the CEO and MD of Larsen and Toubro Shailesh Roy in presence of assembly Speaker Vijay Kumar Chaudhary on Thursday, a release said.
Paytm’s QR-based payment service PayPay launched in Japan in partnership with SoftBank and Yahoo Japan last October has hit 10-million user target along with 1 million stores and 100 million transactions, Paytm Founder and CEO Vijay Shekhar Sharma tweeted on Thursday. Around mid-July 2019, the service had already acquired 8 million customers in the Japan market.
Continuing with its fund raising exercise, Paytm Mall has raised about Rs 1,101 crore ($160 million) by selling a 5.59% stake to US-based e-commerce firm eBay, according to a regulatory filing by Paytm E-commerce Private Ltd.
With this round, the Indian e-commerce giant has now raised about $805 million in three rounds.
Paytm Mall, the e-commerce wing of Paytm, has forged a partnership with Apple to become one of the authorised resellers in India. This means that the sellers on Paytm Mall would require a pre-authorised approval to be able to list Apple products, including iPhone, iPad, Mac, Apple Watch, and more. In the hindsight, it also alludes to reduction in the range of discounts and offers doled out by Paytm Mall on Apple products to attract buyers.
Vijay Shekhar Sharma’s Paytm has ramped up its loans operations and has partnered with Clix Finance India Pvt. Ltd. to provide loans to MSMEs and self-employed people, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to both the customers and merchants of Paytm. The company targets “new-to-credit, self-employed, small and micro enterprises and small borrowers,” who are largely underserved and face difficulties to get loans, the digital commerce company said.
New Delhi: Paytm Mall World Store which makes international brands available to Indian buyers on its platform is easing the shopping experience of buyers who face several issues when they shop on international platforms.
"The company is rapidly expanding its 'Paytm Mall World Store' which makes international brands available to Indian buyers at its platform.
Payments company Paytm said that it is planning to have more than Rs 20,000 crore in Gross Merchandise Value (GMV) from its education business in the current financial year as it looks to expand its current offerings in the segment that includes fee payment, coaching and test series packages, and helping students choose the right college.
New Delhi: Digital payment firm Paytm and Chinese internet firm Tencent may invest up to USD 125 million (nearly Rs 860 crore) in Times Internet's online video streaming platform MX Player this month against purchase of equity.
"Tencent and Paytm are planning to invest USD 100-125 million in MX Player against purchase of equity. The investment is expected to be happen this month," sources privy to the discussion among the three companies told PTI.
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