Paytm Payments Bank Limited (PPBL) on Tuesday launched a physical prepaid card that is directly linked to a user’s Paytm wallet. Users can just top up the wallet to use the card and do not need to create a separate account. The card also enables the withdrawal of money from ATMs.

Satish Gupta, managing director and CEO of Paytm Payments Bank, said, The launch of the Paytm Transit card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs.

Digital payment and financial services firm Paytm plans to deploy FASTag-based parking services across the country after having launched first such project with Delhi Metro Rail Corporation.

Paytm Payments Bank Ltd (PPBL) on Monday said it has enabled the country's first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC).

As many as 166 current and former Paytm employees have converted their Employee Stock Options (ESOPs) into shares, the company said in a regulatory filing.

IPO-bound Paytm has one of the largest ESOP pools in the startup ecosystem, and has given out ESOPs as rewards and benefits to employees, who have contributed to the growth of the company.

An Indian court on Monday has given police three weeks to conclude an investigation into claims from a former Paytm director who said he co-founded the digital payment platform but did not receive shares owed.

Ashok Kumar Saxena, 71, in legal documents said he invested $27,500 two decades ago in Paytm parent One97 Communications but was never allotted any stock, Reuters reported this month https://reut.rs/3j746WJ.

Financial services platform Paytm's Gross Merchant Volume (GMV) is growing at over a 100 per cent in a year, according to its Draft Red Herring Prospectus (DRHP), filed last week.

In Q1FY22, Paytm’s GMV hit Rs 1,46,900 crore, from Rs 69,700 crore in the same period last year. In the whole of FY21, Paytm’s GMV was Rs 4,03,300 crore, highest in the payments industry as per research firm Redseer.

Digital payments major Paytm will be amongst the top 10 most-valued financial (banks included) stocks in the country when it gets listed later this year.

According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO).

Financial services platform Paytm on Tuesday launched two new Internet of Things (IoT)-based payment devices, helping businesses to accept card payments on Android phones.

The Paytm Smart PoS application allows smartphones to accept debit and credit card payments like an electronic data capture machine does.

Shares of SBI Cards and Payment Services were up 3 per cent at Rs 855 on the BSE on Friday, gaining 4 per cent in the past two trading days after the company said it has launched credit cards in partnership with the digital payment platform Paytm.

The stock was trading higher for the fifth straight days and up 7 per cent during the week, as compared to 5 per cent rise in the S&P BSE Sensex.

Paytm has taken the challenge to Google’s Play Store by launching its Android Mini App Store, through which it seeks to help developers take their applications to the masses. This is the start-up’s latest move to break Google’s monopoly over distribution of Android applications.

Paytm is providing listing and distribution of these mini apps from within its app, without any charge. Developers will be able to give a choice of Paytm Wallet, Paytm Payments Bank, UPI, net banking, and card payments to users.

Home-grown financial services platform Paytm, which was briefly removed from Google Play Store for alleged policy violations earlier this month, said on Monday that it has brought back the Paytm Cricket League with UPI cashback and scratch cards.

Now, users can collect stickers of their favourite cricket stars as they pay digitally for their mobile bills, recharges, buying groceries or money transfers, Paytm said.

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