Paytm Mall said on Sunday that it will partner with over 10,000 kirana or local stores, small shops, and businesses for hyperlocal deliveries, joining a growing race amongst e-commerce firms to remain relevant amid the ongoing coronavirus (Covid-19) pandemic.

Its larger rivals- Amazon and Walmart-owned Flipkart - have also announced similar plans. Reliance JioMart's partnership with WhatsApp is also a step in the same direction.

Paytm Payments Bank (PPBL) said it has crossed Rs 1,000 crore in deposits through over 57 million savings account holders.

PPBL has been witnessing an accelerated rise in the deposits, as more people are embracing digital banking during Covid-19.

Paytm is looking at a comprehensive set of offers for its merchant base in order to drive its next phase of growth, according to two top executives.

From Internet-of-Things (IoT)-enabled hardware solutions to its Paytm for Business app, the e-commerce and payments firm is engaging more and more with its merchant base.

A Thane resident lost a little over Rs 1 lakh in an online fraud involving popular payment gateways, police said on Saturday. The complainant, a resident of Patlipada, wanted to sell his furniture and posted an ad on Facebook on December 21, an official said.

On December 24, he received a call from one Rajendra Sharma who offered to buy the furniture and wanted to transfer the amount through payment gateways — Paytm and Google Pay, he said.

Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and SoftBank Group Corp., a person familiar with the matter said, describing a mega-deal that will raise the temperature in India’s increasingly heated financial payments arena. Rob Citrone’s Discovery Capital Management is also in discussions to join a funding round that values the country’s top online financial services firm at $16 billion, the person said, asking not to be identified talking about a private deal.

Paytm Payments Bank has announced a new fixed deposit scheme for its customers. India's largest payments bank is offering an interest of up to 7.5% on their fixed deposits (FDs) through Paytm Payments Bank's partner bank IndusInd Bank Ltd. The new fixed deposit scheme will be launched in early November.

Paytm Payments Bank on Thursday announced reducing their savings account interest rate by 50 basis points to 3.5 per cent from earlier 4 per cent. The new rate will be effective from November 9, 2019. The Reserve Bank of India (RBI) had recently slashed the repo rate by 0.25 basis points to 5.15 per cent from 5.40 per cent earlier that is likely to make home loans and other retail loans cheaper.

Paytm Mall said it would generate at least Rs 500 crore in actual sales for its offline brick-and-mortar retailers this festive season. It says so at a time when trader bodies are at loggerheads with Amazon India and Flipkart over the massive discounts during such sale drives.

Paytm Mall is the online shopping platform created by Paytm, the e-commerce payment system and financial technology entity. We have, says the former, been working hard on our omni-channel model.

Paytm Mall Maha Cashback Carnival: With Diwali just around the corner, Paytm Mall has announced its festival season sale with great deals on smartphones, laptops, TVs and other accessories. Customers will get benefits of over Rs 100 crores during the festive season on Paytm Mall.

Paytm Mall is launching the Maha Cashback Carnival starting from September 29, 2019 to October 6, 2019. Maha Cashback Carnival is offering customers exclusive deals, discounts and curated offers across categories.

New Delhi: Paytm has started a marketing campaign to promote the interoperability feature of its quick response (QR) code scanning application, with the feature aiming 1.5 billion merchant payments on its platform during the festival season, the company said in a release.

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