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<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, declared its Q2FY25 results today, announcing a one-time, exceptional profit of Rs 1,345 crore during the quarter, thanks to the sale of its entertainment ticketing business. The company's PAT (profit after tax) stood at Rs 930 crore. Notably, without this windfall gain, Paytm's finances would still be in red, with the company racking up losses worth Rs 415 crore. Paytm was in red in the year-ago period as well, incurring losses worth Rs 290.5 crore. This windfall profit also improved Paytm's EBITDA by Rs 388 crore on a QoQ basis. The company's revenue also saw a slight uptick of 10.5% quarterly to Rs 1,659 crore, as opposed to Rs 1,501 crore in the previous quarter. But on a year-on-year basis, Paytm's revenue dipped significantly by 34%. The company also announced that it has entered into a DLG (<keyword id="23641220" type="General" weightage="20" keywordseo="Default-Loss-Guarantee" source="keywords">default loss guarantee</keyword>) model for its merchant loans of about Rs 225 crore with SMFG India Credit. Under this arrangement, Paytm will be first in line to take a hit in case of a loss that emerges from borrowers defaulting or skipping their payments. "Following the regulatory framework and the emerging market practice, we see increased willingness from lenders to partner and allocate more capital in the default loss. The DLG model will help to increase disbursements with the existing partners and expand partnerships with new lenders for the loan distribution,” said the company in its earnings release today. The company's revenue from its payment business also inched up 9% on a quarterly basis, along with its revenue from <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which also grew by 34% QoQ. At present, Paytm's total merchant subscriptions stand at 1.12 crore, with the company garnering 3 lakh new merchants during the quarter. During the previous quarter, Paytm's <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> (GMV) also inched up by 5% on a sequential basis, which experts anticipate will continue in the coming quarters, just as India braces for the festive season. Per its release, Paytm aims to achieve <keyword id="23641219" type="General" weightage="20" keywordseo="EBITDA-profitability" source="keywords">EBITDA profitability</keyword> (before ESOPs) by the fourth quarter of this financial year. However, investors remained unimpressed with Paytm's performance, with its share slipping by around 3.96% during the day to trade at Rs 697.20. The stock has a YTD (yield-to-date) of 7.91% during the year.

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

New Delhi: Online food delivery platform <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="83" meta.entityid="Zomato">Zomato</keyword> will acquire <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="83" meta.entityid="Paytm">Paytm</keyword>'s entertainment <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm's entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal. As part of this agreement, OCL's entertainment ticketing business will transfer business to its 100 per cent subsidiaries Orbgen Technologies Pvt Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), followed by the sale of 100 per cent stake in these subsidiaries (which operate the TicketNew and Insider platforms) to Zomato. Subsequently, Zomato will spin off the new business into a new app called 'District'. Under the deal, Zomato will fully acquire Orbgen Technologies Pvt Ltd (OTPL), which is into movie ticketing, for Rs 1,264.6 crore and buy Wasteland Entertainment Pvt Ltd, which is into events ticketing for Rs 783.8 crore. The combined entertainment ticketing business has a scale of Rs 297 crore in revenue and Rs 29 crore in adjusted EBITDA in FY24. "The transfer will also include around 280 existing employees from the entertainment ticketing business," OCL said in a statement, adding that the transaction generates significant profits for Paytm and cash proceeds will further strengthen the balance sheet. Announcing the deal, Paytm said it allows the fintech to strengthen its focus on core payments and financial services distribution. Paytm said with its strong focus on long-term value creation, the company remains confident in substituting revenue from its entertainment ticketing business by expanding core business areas of payments and financial service distribution. "This move allows us to continue focusing on long-term growth in our core areas and value creation for all stakeholders," a Paytm spokesperson said. On the other hand, Zomato Managing Director and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> in a letter to shareholders said, "The proposed acquisition helps us add more scale and offer newer use-cases (like movie and sports ticketing) to our customers in this segment". Zomato believes the deal makes it more relevant to its customers and gives an opportunity to spin off the business into a new app. "We are going to call it District, which could be a game changer for each of these use cases given the need for a single brand as a destination in this segment," Goyal added. Zomato is keen to position 'District' as the brand that consumers turn to when they are thinking of going out, he added. OTPL was incorporated on November 23, 2007, in India. It is in the business of listing and sale of movie tickets and other services. It had a turnover of Rs 13.14 crore in the fiscal ended March 31, 2024. WEPL was incorporated on December 21, 2015. It is in the business of listing and sale of event tickets and other services. Its turnover in the FY24 was Rs 236.03 crore. Paytm said the move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. "In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with a significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player," Paytm said. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. Paytm said the deal underscores its success in building businesses and creating value for shareholders. Zomato's Goyal said the District app is expected to be launched anytime in the next few weeks. Post this acquisition, he said Zomato's going-out business would be spread across multiple different platforms. Its existing going-out business (dining-out + event ticketing) would continue to run on the Zomato app, and the acquired business -- movie, sports and event ticketing -- would continue to run on Paytm's main app for a transition period of up to 12 months, along with Insider and TicketNew apps. Both of these would get transferred to Zomato as part of the transaction. District app will duplicate the offerings above and over time, we will gradually nudge our customers to move from the Zomato, Paytm, Insider, and TicketNew apps to the District app. "Once most customers start transacting on the District app, we will remove the duplication and shut down this business on all the other apps. Eventually, there will just be a button to launch the District app on the Zomato app (like it is for Blinkit today) so that we continue to tap into the large customer base of Zomato," he added.

Zomato to acquire Paytm's entertainment ticketing business for Rs 2,048 crore

Mumbai: Food delivery company <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> has completed the <keyword id="19901090" type="General" weightage="20" keywordseo="acquisition" source="keywords">acquisition</keyword> of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> subsidiaries WEPL and OTPL for the <keyword id="19922574" type="General" weightage="20" keywordseo="entertainment" source="keywords">entertainment</keyword> <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business, the company said in its filing with the exchanges. On August 21, the Deepinder Goyal-led company entered into definitive agreements for the acquisition of Paytm's entertainment arms. In its stock exchange filing on August 21, Noida-based Paytm had also confirmed the development. The deal, valued at Rs 2,048 crores on a cash-free, debt-free basis, stands "as a testament to the value" Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said in a release filed with exchanges. As part of this agreement, OCL will transfer its entertainment ticketing business to Zomato by transferring OCL's entertainment ticketing business to its 100 per cent subsidiaries, Orbgen Technologies Pvt Limited (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL) and selling a 100 per cent stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. As per the information provided by the fintech, about 280 existing employees from the entertainment ticketing business will be part of Zomato. Paytm had said that the company wants to focus on the payments and financial services distribution segment. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. As per Paytm, the company built movie ticketing from the ground up and acquired TicketNew and Insider for a total consideration of Rs 268 crores from 2017 to 2018. Further, additional investments were also made to scale up the business. On Wednesday, after the announcement, the stocks of Zomato opened in green at Rs 256.20. The company in the past six months has delivered a 60 per cent reward to its shareholders. (ANI)

Zomato completes acquisition of Paytm's entertainment and ticketing business

<keyword id="19947542" type="General" weightage="20" keywordseo="One-97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One 97 Communications" meta.hostid="261" meta.entityid="One 97 Communications">One 97 Communications</keyword>, that operates popular fintech brand <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>, reported a 25 per cent rise in revenue at Rs 9,978 crore in the just concluded financial year 2023-24. The company attributed the growth to GMV growth, device additions, and growth in the financial services distribution business. Since its IPO, when the company went public, it for the first full year EBITDA before ESOP profitability of Rs 559 crore, its earnings results released Wednesday showed. In the January-March quarter, however, Paytm reported a revenue of Rs 2,267 crore, a modest decline of 3 per cent year-on-year. "In Q4 FY 2024, we had lower marketing spends, as we paused most of the user growth spending in the month of February and March. We expect to reinvest in these areas in the coming financial year," Paytm informed stock exchanges. "While we experienced a financial impact in Q4 due to the above disruptions, the full financial impact will be seen in Q1 FY 2025." Paytm says it is confident of seeing meaningful improvement starting from Q2 2024-25, based on restarting certain paused products and achieving steady growth in operating metrics. In Q1 of the current fiscal, its focus will be on acquiring new merchants, reactivation of inactive merchants, and redeployment of devices from inactive merchants to new merchants. "While there will be a smaller net addition of device merchants in Q1 FY 2025, we expect net additions to improve from thereon and recover to past trendlines by Q3 FY 2025." Its revenue from payment services were up 26 per cent to Rs 6,235 crore; net payment margin was up 50 per cent to Rs 2,955 crore; gross merchandise value (GMV) up 39 per cent to Rs 18.3 lakh crore. Merchant paying subscriptions for devices have reached 1.07 crore as of March 2024, an increase of 39 lakh. Revenue from financial services and others up 30 per cent to Rs 2,004 crore; value of loans distributed was up 48 per cent to Rs 52,390 crore. Further, Paytm said that the active rate and per device subscription revenue has been impacted. Merchant subscription revenue in Q4 was Rs 90 per device per month and it expects it to bottom out at Rs 80 in Q1, post which it should increase towards Rs 100 by Q4 of the current fiscal. "We continue to address our merchants' needs through innovative product launches and are backed by a large distribution and service network. We recently launched two more "Made in India" soundboxes which are customized to the needs of our merchants, with louder speakers and longer battery life." SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/awfis-space-solutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/110305597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/awfis-space-solutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/110305597.cms" target="_blank">Awfis Space Solutions IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/sports/webstories/rajasthan-royals-vs-royal-challengers-bengaluru-head-to-head-record-key-players-and-more/slidelist/110298325.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/rajasthan-royals-vs-royal-challengers-bengaluru-head-to-head-record-key-players-and-more/slidelist/110298325.cms" target="_blank">Rajasthan Royals vs Royal Challengers Bengaluru: head-to-head record, key players and more</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-grows-by-2-6-in-q1-2024-recording-third-consecutive-quarter-with-growth/articleshow/110292150.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-grows-by-2-6-in-q1-2024-recording-third-consecutive-quarter-with-growth/articleshow/110292150.cms" target="_blank">India's PC market grows by 2.6% in Q1 2024, recording third consecutive quarter with growth</a>

Paytm registers 25% growth in revenue at ₹9,978 crore in 2023-24

Through their technology and innovation-led products and services, <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> has been able to build immense trust among merchants. Paytm’s brand’s popularity has become synonymous with digital payments and this is all because of the millions of merchants and consumers who are using their products and services. Paytm QR and <keyword id="9418617" type="General" weightage="20" keywordseo="paytm-soundbox" source="Orion">Paytm Soundbox</keyword> are successfully solving the requirements of the merchants and are catering to their payment-related concerns too, thus winning their confidence and love. These iconic products are being used by merchants in every nook and corner and offer a wide range of use cases. They are also easy to operate and make payments within seconds. Showing great trust and confidence in their QR code, flower sellers in Mysore are using it to accept money in return for the flowers. The interesting part is, that the sellers are not even physically present at the store. All that the customers need to do is scan the code, pay the amount, and take a flower mala. Informing about the same, a Twitter user shared a post saying, “Brand trust is spreading to service trust too. In Mysore, flower sellers are not even present at the shop. You pay and take a flower mala. We are becoming something like Swiss.” With the help of our QR Code and Soundbox, we have helped millions of merchants grow their business. From street vendors, and shop owners to fruit and flower sellers, Paytm’s products have simplified the lives of many users by fostering financial inclusion and bringing digital empowerment to every nook and corner of the country. Meanwhile, another Twitter user shared over the social media platform about a tea vendor who is accepting payments via QR Code. Sharing a picture of the vendor, he wrote, “Digital India.. Tea vendor with QR code”. Similar to this, one more Twitter user informed that a local tea seller who comes to his office twice a day to sell tea carries a Paytm Soundbox with him for the payments. “Local Tea seller who comes to our office twice a day with Paytm machine,” the tweet read. <div type="twitter" handle="writetopiyush" handlename="writetopiyush" favoritecount="0" retweetcount="0" id="1679107605824966657"></div> Paytm has been able to increase their consumer and merchant base with the help of technology-led products. As of July 2023, consumer engagement is at its highest on Paytm app with an average MTU of 9.3 crore, up 19% YoY. While 82 lakh merchants are now paying subscriptions for their payment devices, Paytm also continues to strengthen their leadership in offline payments. Disclaimer : This article has been reproduced from Paytm's blog. The opinions expressed are those of the organisation and do not necessarily reflect the views of Business Insider India. For further details, you can get in touch with our team on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

Paytm’s iconic QR code and Soundbox have transformed in-store payments for millions of merchants

Digital payments have grown at meteoric speed in the last few years. This has led to digitisation of businesses with even the small and medium merchants adopting technology to keep up with the changing times. As India’s leading payments and financial services company, <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> has been instrumental in transforming in-store payments with its innovations that equip merchants to successfully meet the challenges of rising consumer demands. With Paytm All-in-One <keyword id="8355582" type="General" weightage="20" keywordseo="card-machine" source="Orion">Card Machine</keyword>, millions of merchants have been able to revamp in-store payments acceptance through a simple and easy-to-use device. Powered by the latest technology, <keyword id="7630525" type="General" weightage="20" keywordseo="paytm-card" source="Orion">Paytm Card</keyword> Machine comes with many features and industry-first upgrades that solve all needs for merchants. Paytm All-in-One Card Machine powerful device is the answer to all merchants problems. The company has tie-ups with all major banks and brands across the country that enables merchants to reach out to a larger customer base with the Paytm Card Machine. Here are its top five advantages. 1. Accepts all payment methods: Paytm All-in-One Card Machine has democratised mobile payments for merchants, empowering them with a one-stop solution to accept a wide range of payment modes. Now consumers can pay through any payment mode of their choice – Paytm UPI, UPI Lite, Paytm Wallet, Paytm Postpaid, net banking, debit and credit cards. Paytm Card Machine is also driving affordability for consumers with easy EMIs at no cost for big ticket purchases through bank partnerships. 2. Integrated billing: With Paytm Card Machines, merchants can not only accept payments through multiple payment modes but it is also a dynamic assistant. It comes with an in-built scanner that allows the merchants to scan the barcodes on the products that give them all the details of the product name, quantity and price that automatically reflects in the bill. The device also prints GST-compliant bills further driving convenience for merchants. 3. Single window reconciliation: Paytm All-in-One Card Machine brings a single platform to reconcile payments from different payment modes. With Paytm for Business app, merchants can manage all the transactions and also give them the benefit of instant one-day settlements. 4. Customised solutions: Based on industry-specific concerns, Paytm Card Machine brings customised solutions for businesses. It provides tailor-made offers for various industries including hotels and restaurants, retail and ticketing among others. The merchants can also get specific loyalty and reward programmes that they can offer their customers. 5. Store management: With Paytm Card Machine, merchants can handle their stores through features to manage inventory, suppliers and also take care of CRM for the business. This provides seamless management of the stores without the need for multiple software solutions. Paytm All-in-One Card Machine is an all-inclusive device through which the fintech giant is driving affordability for both merchants and consumers. With Paytm Card Machine, the company has brought the ease of both mobile as well as card payments through a single device and its integrated billing software. With this cost-effective solution the company is also promoting environmental consciousness, ensuring sustainable business practices for businesses. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm Card Machine is transforming in-store payments for India’s merchants — here are its top five advantages

When it comes to in-store payments, only one name stands out — <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>. With a mechant base of 3.6 crore and a subscriber base of over 79 lakh for devices like Paytm Soundbox and Card Machine, Paytm’s technology-led solutions have set the benchmark for the industry. Trusted by millions of merchants, Paytm’s comprehensive payment instruments, innovative products and commitment to financial inclusion have made it the preferred choice for digitising businesses across the country. <cmsannotation type="cmsannotation" annotationid="Leading the charge" comment="subhead" text="Leading the charge">Leading the charge</cmsannotation> Paytm’s pioneering mobile payments platform has established it as the go-to option for merchants looking to digitise their business. The rapid adoption of its payment devices is testament to its widespread popularity. Through constant innovation and affordable solutions, Paytm has played an integral role in shaping the in-store payment landscape in India. <cmsannotation type="cmsannotation" annotationid="Comprehensive payment instruments" comment="subhead" text="Comprehensive payment instruments">Comprehensive payment instruments</cmsannotation> As India’s leading payments and financial services company, Paytm offers full-stack solutions to merchants. Its in-store devices support a range of payment options, including Paytm UPI, Paytm Wallet, Paytm Postpaid, UPI Lite, credit and debit cards and more. Through simplified and accessible payment solutions, merchants can easily accept payments, acquire and retain consumers, improve their business operations and easily access financial services. <cmsannotation type="cmsannotation" annotationid="Trust and reliability" comment="subhead" text="Trust and reliability">Trust and reliability</cmsannotation> Paytm’s devices are widely trusted and used by millions of merchants in India. The company also offers a robust payment gateway product that allows merchants to reliably accept payments across all channels. With the launch of Paytm UPI SDK, the company’s existing merchant partners can further leverage fastest single-click UPI payments on their apps to boost their business. <cmsannotation type="cmsannotation" annotationid="Empowering merchants beyond payments" comment="subhead" text="Empowering merchants beyond payments">Empowering merchants beyond payments</cmsannotation> Offering merchants a 360°-degree view of the consumer traffic, Paytm enables its merchant partners to grow their business through services like selling tickets, advertising, and other loyalty programmes of deals and gift vouchers. The tech innovator also offers completely digital business loans to merchants who want to scale their business. <cmsannotation type="cmsannotation" annotationid="Driving the digital payments growth" comment="subhead" text="Driving the digital payments growth">Driving the digital payments growth</cmsannotation> Paytm has built a blueprint for the industry by changing India’s payments and commerce landscape. Witnessing a remarkable user engagement on the platform with a YoY growth of 23% and average Monthly Transacting Users (MTU) at 9.2 crore, Paytm has significantly contributed to the adoption of digital payments among both consumers and merchants. From the remote corners to bustling metros and from street vendors dotting the cities and highways, to the biggest enterprises, Paytm’s iconic products are widely accepted and trusted by millions of merchants from diverse parts of the country, making digital transactions accessible across the length and breadth of India. Empowering merchants to join the cashless revolution by driving financial inclusion, the company is committed to offer a diverse ecosystem of innovative solutions that simplifies their day-to-day lives. Paytm’s success story in in-store payments shows how innovative technology and a customer-centric approach can foster financial inclusion and transform an industry. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

With over 3.6 crore merchants, here’s how Paytm took the crown as in-store payments leader

India’s leading mobile payments and financial services firm <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s leadership in UPI merchant payments has helped it generate meaningful revenue. In its Q4FY23 results, the company revealed that it received UPI incentives from the government amounting to ₹49 crore during the quarter and ₹182 crore for the full financial year. The Union Cabinet in January approved the incentive scheme for promoting RuPay Debit Cards and low-value peer-to-merchant (P2M) UPI transactions. Paytm is the leader in UPI merchant payment transactions, and the UPI incentive received by the company has doubled from the previous fiscal’s ₹90 crore. Paytm UPI has been driving the country’s digital transaction volumes in recent years. The company’s rapid deployment of low-cost QR codes to cover every corner of India has brought underpenetrated merchant segments that once preferred cash-based payments into the digital payments fold. As of March 2023, the company had a registered merchant base of 3.35 crore. According to the Ministry of Electronics and IT, its incentive scheme will also promote UPI Lite as user-friendly digital payment solutions and enable further deepening of digital payments in the country, across all sectors and segments of the population. As the pioneer of mobile and QR payments in India, Paytm was the first app to launch UPI Lite in India. Since its launch in February 2023, Paytm has enabled UPI Lite for more than 55 lakh users. Merchants and users prefer Paytm for UPI because of the company’s industry-best transaction success rates. UPI has also emerged as one of the key customer and merchant acquisition channels for Paytm. Paytm has built a scalable UPI revenue model by focussing on merchant payments and offering subscription-based payment devices like Paytm Soundbox and upselling financial services. Today, it is the leader in offline payments with the most payment devices deployed. It has further strengthened its leadership with 71 lakh devices deployed as of April 2023, an increase of 3 lakh devices during the month. Led by the growth in merchant GMV, higher subscription revenues, and growth of loans distributed through our platform, Paytm reported a 51% (YoY) revenue growth in Q4FY22 to ₹2,334 crore. It posted an operating profit for the second consecutive quarter with EBITDA before ESOP cost expanding to ₹234 crore. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm’s merchant payment leadership helps double its UPI incentives to ₹182 cr in FY23

From Rishikesh to Varanasi to Mumbai, India’s leading mobile payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, is transforming businesses with the convenience and security of mobile payments, serving as a catalyst for financial inclusion. The innovative Paytm-pioneered QR code has empowered millions of people across the length and breadth of India with its reach and adoption. A man who sells idlis on his cycle in Varanasi recently caught the attention of social media. He has integrated Paytm QR into his business, accepting digital payments on the go. “Saw Paytm QR like this in Varanasi while having idli. He accepted <keyword id="4023222" type="General" weightage="20" keywordseo="paytm-payment" source="Orion">Paytm payment</keyword> not cash .. India is Truly digital and it would be immense pleasure for its founder when he visits roadside see similar things like this,” tweeted Lalit Jayswal. In Mumbai, a tadgola (ice apple) seller, as NPCI CEO Dilip Asbe tweeted, also uses Paytm to receive payments. “Bought summer special to beat the Mumbai heat at Carter road, Bandra using RuPay CC on UPI. With Digital Credit on UPI, the street vendors can now accept credit money and be part of the credit ecosystem,” he said. Paytm users can make UPI payments through their eligible RuPay credit cards, enhancing the vendor’s ability to accept a wider range of payment methods. Paytm’s reach extends even to the Ganga Ghat in Rishikesh, where an unschooled seller who sells flower baskets and empty cans for collecting Gangajal was seen taking digital payments with the help of Paytm. The reach and adoption of the Paytm-pioneered QR Code show how far India has come from a cash-reliant country to a digital-first economy. The revolutionary technology, as illustrated by a cobbler at Churchgate station in Mumbai with a Paytm QR, has been enabled by millions of shopkeepers, street vendors, and service providers. “Digital payments have also reached the bottom of the pyramid too. Came across this ⁦Paytm⁩ QR at Churchgate station,” tweeted Anurag Shah, who shared the picture. Paytm’s innovation does not stop at QR codes. The company pioneered Soundbox, a user-friendly device that announces payment confirmations through a voice alert. This feature helps merchants easily verify transactions without having to check their smartphones, making the payment process even more seamless and efficient. The widespread adoption of the <keyword id="9290101" type="General" weightage="100" keywordseo="paytm-qr-code" source="Orion">Paytm QR code</keyword> and the Paytm Soundbox is a testament to its ease of use and convenience for both merchants and consumers. The company has deployed over 71 lakh Soundboxes and remains the leader in person-to-merchant UPI payments in India. Disclaimer : This article has been reproduced from Paytm's blog. The opinions expressed are those of the organization and do not necessarily reflect the views of Business Insider India. For further details, you can get in touch with our team on insiderstudios@businessinsider.in

Financial inclusion made easy for India’s small merchants with Paytm’s pioneering QR codes and Soundbox

Digital payments and services app <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> is working and will continue to work as usual even after February 29, its CEO <keyword id="20004114" type="General" weightage="100" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword> said on Friday. The founder and CEO of One97 Communications Ltd (OCL), which owns Paytm brand, on social media platform X said the company is committed to serving the nation in full compliance. "To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual," Sharma said. RBI has barred Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024. OCL holds a 49% stake in PPBL but classifies it as an associate of the company and not as a subsidiary. "I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance. India will keep winning global accolades in payment innovation and inclusion in financial services - with PaytmKaro as the biggest champion of it," Sharma said. The Paytm top management during an earning call on Thursday said they are working on a migration plan for PPBL, wallet, FASTag etc users with other banks. The company sees the RBI order to have an impact of Rs 300-500 crore on its annual operational profit as its customers will not be able to add money to their wallets, FASTag etc. Separately, the company informed that its offline merchants network offering and device business like Paytm Soundbox, EDC, QR are not impacted by the Reserve Bank of India's (RBI) direction to its associate bank. The fintech company will also continue onboarding merchants to its platform. "The Paytm Payment Gateway business (online merchants) will continue to offer payment solutions to its existing merchants. Other financial services such as loan distribution, insurance distribution and equity broking, are also not in any way related to Paytm's associate bank and are expected to be unaffected by this direction," the company said. Paytm said that the RBI order also does not impact user deposits in their savings accounts, wallets, FASTags and NCMC (National Common Mobility Card) accounts, and they can continue to use the existing balances. RBI has ordered PPBL to settle all pipeline transactions and nodal accounts (in respect of all transactions initiated on or before February 29, 2024) by March 15, 2024 and no further transactions would be permitted thereafter. Sharma during the call had said that RBI order is a "big speed bump" and shared that he could not understand the trigger for the move and he was not aware of the exact nuance that triggered the order. "On behalf of Paytm I can say it is more of a big speed bump but it is something that we believe that with partnership of other banks and capabilities that we have already developed, we will be able to see through in the next few days or quarters as the case will be," he had said.

Paytm app will continue to work beyond Feb 29 as usual: CEO Vijay Shekhar Sharma

India’s leading mobile payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> has been instrumental in empowering millions of small and medium businesses with its innovative payment solutions like All-in-One QR and Soundbox. From the local grocery stores to the street vendors dotting the cities, highways, and remote corners of India, Paytm is helping merchants join the nation's thriving digital economy. Paytm’s All-in-One QR is a simple and secure way for merchants to receive payments from any UPI app, Paytm Wallet and even Paytm Postpaid. The fintech pioneer has made access to technology easy and affordable for merchants by identifying merchant problems that can be solved using technology. Paytm pioneered Soundbox in India, a cutting-edge technological innovation that has added unparalleled convenience for merchants. <keyword id="9418617" type="General" weightage="20" keywordseo="paytm-soundbox" source="Orion">Paytm Soundbox</keyword> is an innovative device that helps merchants with instant voice notifications for every payment received via Paytm QR. The device supports 11 languages and allows merchants to keep track of payments, and prevents false confirmations and customer fraud. Paytm merchants derive value by becoming a part of the company’s ecosystem. It has a registered merchant base of 31.4 million (as of December 2022), increasing by 26% year-on-year. This is one of India’s largest merchant networks. Paytm is focused on expanding its merchant network to cover a diverse range of businesses from various sectors. Its QR and Soundbox have been widely adopted by merchants across India in various sectors such as retail, grocery, food, transportation, and more. In partnership with lenders, the company also offers loans to eligible merchants to enable their business growth. The number of merchant loans disbursed by Paytm grew 253% YoY in Q3 FY 2023, while the value of merchant loans grew 285% YoY to ₹1,825 crore. More than 85% of the value disbursed during the quarter was to merchants with a deployed Paytm payment device. Paytm’s management had said in the company’s Q3 FY 2023 earnings calls that its merchants are spread across more than 450 cities and towns and it plans to expand this to approximately 1,000 towns in the next two to three years. Paytm continues to strengthen its position as the leader in offline payments. As of 31st March 2023, more than 6.8 million merchants are paying subscriptions for its payment devices like Soundbox and PoS. From temples and gardens to street vendors and grocery stores, Paytm has also leveraged its large and growing merchant network to create a strong foothold in the digital lending market in India. As the driving force behind the digital transformation of countless businesses, Paytm has acquired a large number of merchants from big and small cities across the country. Paytm users often share heartwarming images and stories of merchants of all ages and sizes who have seamlessly transitioned to digital payments, thanks to the fintech pioneer. <div type="twitter" handle="VRaj_In" handlename="𝕍ℝaj 🇮🇳" image="http://pbs.twimg.com/profile_images/1388147324656910338/FBjGWBvl_normal.jpg" favoritecount="9" retweetcount="0" status="@vijayshekhar 82 year old mausi accepting paytm . India has revolutionized the way people transact and #Paytm has b… https://t.co/B4i5u4JYD4" createdat="1681220925000" id="1645785962797203461"></div> “82 year old mausi accepting paytm . India has revolutionized the way people transact and #Paytm has been on forefront,” tweeted a user recently. He shared a picture of an elderly woman who is selling snacks accepting Paytm. <div type="twitter" handle="ankit_k87" handlename="Kumar Ankit" image="http://pbs.twimg.com/profile_images/1623014628019310593/dy2aljI9_normal.jpg" favoritecount="78" retweetcount="4" status="My car broke down in middle of nowhere in Gaya, Bihar. Nearest mechanic and Petrol pump is 10 kms away. But, you ha… https://t.co/KTfg6ZPJJP" createdat="1680335625000" id="1642072746392944641"></div> Another Twitter user, Kumar Ankit, shares a picture of a grocery shop in remote Bihar accepting payments with Paytm QR. “My car broke down in middle of nowhere in Gaya, Bihar. Nearest mechanic and Petrol pump is 10 kms away. But, you have a small shop with Paytm. Interestingly the QR code was covered in plastic - he said “bhaiya aise saaf rehta ha”. He gets 10-15k per month on Paytm even here,” he captioned the image. The widespread adoption of Paytm’s payment solutions including All-in-One QR, Soundbox and POS has made Paytm synonymous with mobile payments in India, enabling small and medium merchants to keep up with the rapidly evolving and growing digital payments landscape. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

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