Digital payments major Paytm today said it has crossed an annual gross transaction run-rate of USD 29 billion, driven by growth across mobile payments and bank transfers through its platform. A Paytm spokesperson said the company is witnessing strong growth in both mobile payments usage as well as transactions through bank transfers, which has been recently introduced. “We are already seeing a GTV (gross transaction value) run rate of USD 29 billion.

Digital payments company Paytm today said it does not share data of its users with any third-party or government. “We never share your (user) data with anyone: any company/ any government or any country. At Paytm, your data is yours. Not ours, or of a third party, or of the government,” Paytm said in a blogpsot today. It added that its policy allows only legally-compliant data requests from the law of the land to get access to data for necessary investigations.

New Delhi: Paytm, the brand owned by One97 Communications, has acquired Orbgen Technologies, the entity that operates Chennai-based online ticketing platform TicketNew. Sources put the deal size at around $40 million. Last year TicketNew raised Rs 1.2 billion from Chinese e-commerce giant Alibaba.

With this acquisition, Paytm hopes to take on major players such as BookMyShow. According to the company, the acquisition will help it attain leadership status in south India.

One97 Communications, the company that owns Paytm, plans to process Rs 600 billion in monthly bank transfers by the end of this year. The company is also planning to invest Rs 50 billion in its core business, expecting to increase the number of transactions from a billion to 2 billion.

Walmart Flipkart deal: After the world’s largest retailer Walmart picked up a 77% stake in homegrown giant Flipkart, online czar Vijay Shekhar Sharma of Paytm called it a perfect answer to those who were dismissive of Indian start-ups. Commenting on the humoungous valuation garnered by Flipkart in the deal, Vijay Shekhar Sharma tweeted, “This is 1 Lakh crore+, all cash deal ! vI call it, perfect answer to those who were dismissive of Indian startups in an open-for-all market.

Taking the offline route to take on e-commerce biggies such as Flipkart and Amazon, Paytm Mall, which completed a year in April, is planning to invest $30 million over the year. It will develop and roll-out connected Point of Sale (PoS) solutions across 100,000 retail stores.

The PoS is a software-based system, which can be used on any smartphone or tablet. Shopkeepers can also take a PoS machine that Paytm Mall would provide for rent.

BENGALURU: Paytm Payments Bank claims that it now has over 100 million KYC-registered wallets — which includes both complete and minimum KYC (know your customer). This development comes even as there have been indications in the digital payments industry of a sharp fall in mobile-wallet users as customer authentication did not take off.

Mobile wallet firm Paytm today said its gold sales rose three-fold to 20 kg in a single day on the occasion of Akshaya Tritiya on April 18. Maximum sales were reported in Bengaluru, Delhi NCR, Hyderabad, Mumbai and Kolkata. Over 1.5 million customers transacted 20 kg of gold items, mainly 24 carat gold coins, on its platform on the Akshaya Tritiya day this year, compared with 6.5 kg gold items on the same day last year, Paytm said in a statement.

Mobile payments app Paytm is open to any kind of regulation, including one that the telecom regulator may want to bring in, to ensure that data of its consumers is safe and secure, its founder said, breaking away from the crowd of app makers, most of which have expressed their reservation against any regulation.

Not many of us are used to buying mutual funds using our smart phones, even though there are some apps that facilitate this. But with Paytm, one of India’s largest mobile wallets, set to enter mutual fund distribution in a month’s time, many of us (Paytm claims to have around 300 million customers) would be able to buy mutual funds with a tap of a button. On 5 April, Mint carried a story on what Paytm could offer.

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