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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> has regained approval from the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>) to onboard new UPI users, marking a significant turnaround for the fintech giant. This development follows a setback earlier this year when <keyword id="20410154" type="General" weightage="20" keywordseo="Paytm-Payments-Bank-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Bank Limited" meta.hostid="261" meta.entityid="Paytm Payments Bank Limited">Paytm Payments Bank Limited</keyword> (PPBL), an associate company of Paytm, was barred from adding new users to its UPI platform due to regulatory concerns raised by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI). <h2>Paytm gets permission to onboard new UPI users </h2> In a regulatory filing on Tuesday evening, Paytm disclosed that NPCI granted permission for the company to resume onboarding UPI users, provided it complies with all procedural guidelines and circulars issued by the corporation. “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the Company to on-board new UPI users, with adherence to all NPCI procedural guidelines and circulars,” Paytm said in the filing. This move is seen as a relief for the company, which has been under scrutiny following the RBI’s intervention in January. The NPCI, which had previously allowed Paytm to operate as a Third-Party Application Provider (TPAP) for UPI transactions, has now reinstated its ability to bring new users onto the platform, albeit with strict conditions. Paytm can continue UPI operations through its partnerships with major banking institutions, including SBI, HDFC Bank, Axis Bank, and YES Bank. The NPCI’s approval comes after a thorough review of Paytm’s compliance with procedural guidelines, including those pertaining to risk management, app branding, multi-bank participation, and data privacy. The fintech firm has been instructed to adhere to key regulatory frameworks, such as the Payments and Settlement Act of 2007 and the Digital Personal Data Protection Act of 2023. This approval follows a request by Paytm’s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords">One97 Communications</keyword> Ltd (OCL), in August, seeking permission to resume UPI onboarding. The NPCI’s decision also reflects that Paytm has addressed concerns raised in the RBI’s directive from earlier this year, which had highlighted persistent non-compliance issues with its banking subsidiary, PPBL. On a related note, Paytm reported a strong financial performance for the quarter ending September 2024. The company posted a net profit of ₹928.3 crore, a marked improvement from the ₹290.5 crore loss it recorded during the same period last year. <h2>What had happened? </h2> For the unversed, in January 2024, the Reserve Bank of India (RBI) told Paytm Payments Bank Limited (PPBL) to stop accepting deposits and processing UPI top-ups. This decision stemmed from ongoing concerns about the bank’s compliance and serious issues that needed addressing. As a result, Paytm found itself unable to onboard new UPI users, significantly disrupting its growing customer base and raising doubts about its future in the crowded <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> market. However, things took a turn for the better in March 2024 when the National Payments Corporation of India (NPCI) gave Paytm the green light to resume UPI transactions. The catch? Paytm could only operate as a Third-Party Application Provider (TPAP), meaning it had to partner with established banks like SBI, Axis Bank, HDFC Bank, and YES Bank for its UPI services. While this arrangement posed some limitations, it allowed Paytm to keep moving forward and adapt to the regulatory challenges it faced in India’s digital payment landscape. (with PTI inputs)

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

<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

Shares of fintech firm <keyword id="181441" type="General" weightage="20" keywordseo="One97-Communications" source="Orion">One97 Communications</keyword> -- the owner of <keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords">Paytm</keyword> brand -- jumped 5 per cent on Thursday morning after the company received the government's approval for downstream investment in wholly-owned subsidiary <keyword id="22960487" type="General" weightage="20" keywordseo="Paytm-Payments-Services-Ltd-" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Services Ltd." meta.hostid="261" meta.entityid="Paytm Payments Services Ltd.">Paytm Payments Services Ltd.</keyword> The stock climbed 5 per cent to Rs 565 on the BSE. At the NSE, it surged 4.98 per cent to Rs 564.80. The company will reapply for a <keyword id="6640986" type="General" weightage="20" keywordseo="payment-aggregator" source="Orion">payment aggregator</keyword> (PA) licence, a regulatory filing said on Wednesday. "We would like to inform you that <keyword id="20410230" type="General" weightage="20" keywordseo="PPSL" source="keywords">PPSL</keyword> has received approval from the government of India, <keyword id="156153" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="Orion">Ministry of Finance</keyword>, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the company into PPSL. "With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners," Paytm filing said. The Reserve Bank of India (RBI) had rejected Paytm's PA licence permit application in November 2022 and instructed the company to reapply with Press Note 3 compliance under the foreign direct investment norms. As per Press Note 3, the government had made its prior approval mandatory for investments from nations that share land borders with India.

Paytm shares jump 5% on receiving government's nod for investment in Paytm Payments Services

Market regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">SEBI</keyword> has issued notice to fintech firm <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>, which owns the <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords">Paytm</keyword> brand, for the employee <keyword id="20410988" type="General" weightage="20" keywordseo="stock-options" source="keywords">stock options</keyword> (<keyword id="20043663" type="General" weightage="20" keywordseo="ESOPs" source="keywords">ESOPs</keyword>) allocated to MD and CEO <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, according to the company filing on Monday. In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the market regulator to make required representations. According to Paytm's financial year 2024 annual result filing, it had issued 2.1 crore employee stock options (ESOP) to Sharma in the financial year 2022. SEBI had issued a show cause notice to Paytm on ESOP issued to Sharma. "This is not a new development, as the Company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024. The Company is in regular communication with the <keyword id="19970553" type="General" weightage="20" keywordseo="securities-exchange-board-of-india" source="keywords">Securities Exchange Board of India</keyword> (SEBI) and making necessary representations regarding this matter," Paytm said in response to a stock exchange query. The disclosure made on May 22 and July 19 said that Paytm has submitted its preliminary response and is in the process of seeking further information from the regulator in this regard. "Based on an independent legal opinion obtained by the management, it believes that the Company is compliant with the relevant regulations. Accordingly, there is no impact on the financial results for the year ended March 31, 2024," the filing said. Shares of One97 Communications Ltd, which owns the Paytm brand, on Monday dropped over 4% amid reports that SEBI has issued show-cause notices to Vijay Shekhar Sharma and board members who served during its IPO in November 2021 for alleged misrepresentation of facts. The stock tanked 4.41 % to settle at Rs 530.05 apiece on the BSE. During the day, it plunged 8.88 % to Rs 505.25. On the NSE, shares of the firm dropped 4.47 % to Rs 530. Intra-day, the stock tumbled 8.88 % to Rs 505.55. The company's market valuation declined by Rs 1,534.23 crore to Rs 33,731.56 crore. Earlier in the day, BSE sought clarification from One 97 Communications Ltd with reference to news that Vijay Shekhar Sharma, Paytm directors face SEBI show-cause notices over initial public offering (IPO) breaches, particularly on ESOPs allotted to MD and CEO Vijay Shekhar Sharma. In response to a query from stock exchanges, Paytm said the notice is not a new development, and it is in regulatory contact with the markets regulator to make required representations.

SEBI issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made

<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>, <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 reported its <keyword id="22373996" type="General" weightage="20" keywordseo="Q1FY25" source="keywords">Q1FY25</keyword> results earlier today. While its operating <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">revenue</keyword> for the quarter was Rs 1,502 crore, its earnings before interest, tax, depreciation, and amortization (<keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword>) for the quarter was in negative, at Rs 792 crore. The net device subscriber base (for Paytm sound box) inched up to 1.09 crore during June 2024, up from 79 lakh in June 2023. On the <keyword id="19900016" type="General" weightage="20" keywordseo="payment-services" source="keywords">payment services</keyword> front, the quarterly revenue stood at Rs 900 crore, which was largely dented due to closure of PPBL (Paytm Payment Bank Limited) accounts, owing to RBI directives. The same stood at Rs 2,342 crore during the year-ago period. For Q1FY25,the company registered a gross merchandise value (GMV) of Rs 4.3 lakh crore, and a net payment margin of Rs 383 crore. The company expects the annual payment processing margin (including <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> incentives, which gets paid in Q4 of every financial year) to be in the range of 5-6 bps. On the financial and <keyword id="20257159" type="General" weightage="20" keywordseo="marketing-services" source="keywords">marketing services</keyword> front, the revenue for April-June 2024 was Rs 280 crore and Rs 321 crore, respectively. The revenue from marketing services, which includes advertising, and ticketing for travel, movies and events, was down largely due to seasonality of this business. Overall, Paytm's net loss the quarter stood at Rs 840 crore, significantly up from Rs 357 crore in the year ago period. <h2>Low Sounds from Sound Box, UPI </h2>The company highlighted that its per device subscription revenue had tanked, and expects it to rise in the coming days, as it pushed for new merchant signups and redeployment from inactive merchants. Additionally, the company is awaiting permission to begin onboarding new UPI customers, which would help it drive up the number of its monthly transacting users. As of June 30, 2024 the company's monthly transacting users (MTU) stood at 7.8 crore, down from 8.9 crore in March 2024 and about 10.4 crore in January this year. <h2>Rise in loan disbursal </h2>In its release, the company noted that it is "expanding its loan cross-selling by integrating more types of loans from our partners, including secured credit like loan against property and gold loans". The value of merchant loans it disbursed during the quarter was Rs 2,508 crore, and about 50% of these were availed by repeat borrowers. The average ticket size in this category also jumped up from Rs 2,25,000 to Rs 1,90,000, with an average tenure of 13 months. As for personal loans, the company disbursed loans worth Rs 2,500 crore during the quarter. Here, the average ticket size and tenure remained stable at Rs 1,35,000 and 16 months, respectively. About 1.1% of the monthly transacting users on Paytm avail such loans. The company also reported a rise in number of credit cards activated in June 2024, which stood at 12.8 lakh, as compared to 7.5 lakh last year. At present, the company has 6 active partners for credit card distribution. <h2>Compliance first approach </h2>The company saw in uptick in its indirect costs from Rs 1,220 crore in June 2023 to Rs 1,301 crore as of June 2024, which it attributed to higher marketing costs to create awareness regarding new partnerships in the payments business as TPAP (third party application provider), Its software, cloud and data centre expenses increased QoQ (from Rs 162 crore in March 2024 to Rs 182 crore in June 2024) due to one-time charges relating to the migration to the TPAP model. However, the company expects this cost to come down in upcoming quarters. Going ahead, Paytm will largely focus on reactivating existing dormant UPI customers. "Once we are allowed new UPI user onboarding, we will acquire new monetizable customers with discipline on acquisition costs", the release said. Apart from this, it also aims on enhancing credit distribution, expanding secured lending products , allocating more resources to insurance distribution and mutual fund distribution, "which offer large monetization opportunities" and maintaining a stringent focus on compliance first approach across their businesses. During trade today, Paytm's stock was trading at Rs 450, up by 1.06%. Also read: <a href="https://www.businessinsider.in/stock-market/news/stock-market-today-infosys-asian-paints-take-lead-during-early-trade-realty-tumbles-over-1-in-morning-trade/articleshow/111851266.cms" data-type="tilCustomLink" target="_blank">Stock market today: Infosys, Asian Paints take lead during early trade, realty tumbles over 1% in morning trade on 19th July</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-q1fy25-results-net-profits-jump-7-1-revenue-beats-market-estimates-at-rs-39315-crore/articleshow/111837139.cms" data-type="tilCustomLink" target="_blank">Infosys Q1FY25 results: Net profits jump 7.1%, revenue beats market estimates at Rs 39,315 crore</a>

Paytm Q1FY25 results: Revenue from payment services plunges to Rs 900 crore, monthly transacting users in June dip to 7.8 crore

<ul><li><keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> has denied reports that it is in talks to acquire a stake in <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>.</li><li>One97 Communications, the parent company of Paytm has also denied reports of a stake sale.</li><li>Recent media reports claimed that Adani Group is looking to enter the UPI and e-commerce segments.</li></ul> Gautam Adani-led conglomerate Adani Group has denied reports that it is in talks with Vijay Shekhar Sharma-led One97 Communications, the parent company of Paytm, for acquiring a stake in the fintech company. Amid reports that the Adani Group is looking to enter the <a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">UPI and e-commerce</a> segments, a <a href="https://timesofindia.indiatimes.com/business/india-business/adani-in-talks-with-vijay-shekhar-sharma-to-acquire-stake-in-paytm/articleshow/110509772.cms">report</a> by the Times of India claimed that the company is in talks with One97 Communications for a stake acquisition, citing sources familiar with the matter. The report claimed that Paytm founder and CEO <keyword id="20004114" type="General" weightage="20" keywordseo="Vijay-Shekhar-Sharma" source="keywords">Vijay Shekhar Sharma</keyword> had met <keyword id="19929098" type="General" weightage="100" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> at its Ahmedabad headquarters on Tuesday, May 28, regarding the deal. The report led to immense speculations across the business and political circles as expectations around Adani Group taking on the likes of JioFinance and Google Pay grew ripe. The share price of One97 Communications climbed 5%, hitting the upper circuit. The company’s share price reached INR 359.55. The opposition party Congress’s leader Jairam Ramesh launched a scathing attack on the Prime Minister, posting on X "Remember when Paytm was referred to as Pay to Modi? Prophetic words! Atmanirbhar to Parmatmanirbhar to Adaninirbhar!" <cmsannotation type="cmsannotation" annotationid="Adani Group issues a denial" comment="subhead" text="Adani Group issues a denial">Adani Group issues a denial</cmsannotation> The Adani Group has now come out and denied the media report. “We categorically deny this baseless speculation. It is totally false and untrue,” the Adani Group said in a statement. <cmsannotation type="cmsannotation" annotationid="One97 Communications also denies talks" comment="subhead" text="One97 Communications also denies talks">One97 Communications also denies talks</cmsannotation> In an official statement, One97 Communications denied reports of its talks with Adani Group. "We hereby clarify that the abovementioned news item is speculative and the company is not engaged in any discussions in this regard. We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," One97 Communications said in an official filing. <cmsannotation type="cmsannotation" annotationid="Adani Group looking to enter the UPI and e-commerce segments" comment="subhead" text="Adani Group looking to enter the UPI and e-commerce segments">Adani Group looking to enter the UPI and e-commerce segments</cmsannotation> Earlier, media reports claimed that the Adani Group is looking to enter the UPI and e-commerce segments in India. According to the reports, the Adani Group is reportedly considering applying for a license to operate on the country’s public digital payments network, the Unified Payments Interface (UPI). The group is also in talks with banks to offer a co-branded Adani credit card to its customers. The group is also reported to be in negotiations to enter the e-commerce segment through the government-backed Open Network for Digital Commerce (ONDC). A deal with Paytm, which has several years of experience in both e-commerce and payments, could have helped the Adani Group establish itself in these segments and take on existing players such as Reliance Industries, Google, PhonePe and more. Paytm has been facing several regulatory challenges in recent years, with the Reserve Bank of India (RBI) ordering Paytm Payments Bank Ltd to stop the bulk of its activities earlier this year. The action led to a whopping 50% drop in One97 Communications share price within two weeks in February. SEE ALSO: <h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/business/news/adani-group-plans-to-foray-into-e-commerce-and-upi-segments-to-compete-with-mukesh-ambani/articleshow/110495484.cms">Adani Group could soon enter e-commerce and UPI segments, to rival Mukesh Ambani and Google</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/sports/webstories/ipl-2024-award-winners-orange-cap-to-emerging-player-of-the-season-here-are-the-winners/slidelist/110454525.cms">IPL 2024 award winners – Orange cap to emerging player of the season, here are the winners</a></h3><h3 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;"><a href="https://www.businessinsider.in/tech/mobile/news/poco-f6-with-snapdraon-8s-gen-3-chipset-launched-starting-at-29999/articleshow/110367623.cms">Poco F6 with Snapdraon 8s Gen 3 chipset launched starting at ₹29,999</a></h3>

Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

<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

<keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> Limited (OCL) that owns the brand <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, India's leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, today announced an investment of Rs100 crore in Gujarat International Finance Tec-City (<keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>) to build a global financial ecosystem, ahead of the Vibrant Gujarat Global Summit 2024, in Gandhinagar. The company will make the investment over a period of time and will seek requisite approvals for the same. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new <keyword id="6358815" type="General" weightage="20" keywordseo="tech" source="Orion">tech</keyword> for users across the globe looking to invest in India. As the pioneer of real-time payments and settlements in India, the company will replicate its success to now reduce friction in cross-border remittances with faster and cost-effective solutions, driven by Artificial Intelligence. Leveraging its leadership as a tech innovator, Paytm will also set up a development centre in GIFT City to build the above solutions and provide a technology backbone. This centre will create jobs and house engineers to develop a suite of world-class financial products and services. Vijay Shekhar Sharma, founder and CEO, said, "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale. We are excited about GIFT City serving as an exemplary innovation hub for cross-border activities, enabling overseas <keyword id="6359051" type="General" weightage="20" keywordseo="investors" source="Orion">investors</keyword> the flexibility to maintain foreign currency accounts. Furthermore, we intend to leverage this investment to establish a dedicated development center." Paytm is India's leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, Paytm builds technologies that help small businesses with payments and commerce. Paytm's mission is to serve half a billion Indians and bring them to the mainstream economy with the help of technology.

Paytm to invest Rs 100 Crore in GIFT City; plans to offer AI-driven cross border remittance

<ul><li>Massive upgrade of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s payments platform through an indigenous full-stack development will further boost digital payments in the country.</li><li>Aimed at significantly enhancing consumer experience of digital payments through much better success rate, speed and security</li><li>Paytm has been at the forefront of India’s digital revolution with its technology-led innovations that have empowered users with a ‘Made in India’ payments platform.</li></ul>One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of mobile payments, QR and Soundbox today announced the launch of its new technology platform that is built with 100% indigenous developed technology. With this, the company has taken another step towards ‘Atmanirbhar Bharat’ to promote digital payments in the country. Paytm has been at the forefront of India’s digital revolution with its technology-led innovations that have empowered users with a ‘Made in India’ payments platform. The platform has been revamped, ensuring that the previous technology platform is upgraded with new-age tech solutions that are locally built and supported in-house. With a world-class platform that can handle up to 10X of the current scale, Paytm has set a gold standard for fintechs, aimed at handling fast growing digital payments opportunities in the country. The company has been investing heavily in India’s mission of building a trillion dollar digital economy. This massive upgrade of Paytm’s payments platform through an indigenous full-stack development will further boost digital payments in the country. <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword>, Founder &amp; CEO of Paytm said, “As a key milestone of the journey of Paytm payments platforms from pioneering new innovations to building solutions for India’s small and large merchants, we have come a long way. Today by making sure that every component of our technology is made in-house, we have proved that India can build world-class technology software of scale. We have built a new operational risks system and fraud management from grounds up, catering to India’s payments growth. This platform will be able to scale to the next up to 10X payments in India. We are here to serve India by a technology made in India. We are proud that we are making this in India for the world.” With a robust architecture, the company’s revamped platform will further power superfast, secure and seamless payments. Paytm’s new payments infrastructure will promote sustainable growth of digital payments and financial services in India. After revolutionising mobile, QR and Soundbox payments, the company’s new platform will transform digital transactions, enabling affordable access to financial services. The digital disruptor made waves in digital payments with its iconic Soundbox, another shining example of ‘Make in India’. The fintech pioneer has already displayed its tech prowess by building the digital payments technology for Japan. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a>

Paytm announces launch of its upgraded payments platform powered by 100% indigenous technology — a shining example of ‘Make in India’

<ul><li><keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword>, the <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> operator, passed a board resolution to buy back shares worth ₹850 crore, with the buyback price fixed at ₹810.</li><li>According to JP Morgan, the buyback could support the company’s stock price in the near-term.</li><li>In December so far, Paytm’s share price has gained 10%.</li></ul>One97 Communications, the operator of digital payments platform Paytm, announced a share buyback worth ₹850 crore, at a premium of 52.5% over its share price on Wednesday. According to analysts at JP Morgan, the buyback could support the Paytm stock in the near-term. “We expect the buyback announcement at a 50% premium to provide support to the stock price in the near term,” JP Morgan said in a note. The brokerage maintained its ‘overweight’ rating on the stock and its target price of ₹1,100 by March 2023. On the other hand, analysts at Morgan Stanley maintained their ‘equal weight’ rating along with the target price of ₹695. <cmsannotation type="cmsannotation" annotationid="Paytm says buyback is a ‘sign of confidence’" comment="subhead" text="Paytm says buyback is a ‘sign of confidence’">Paytm says buyback is a ‘sign of confidence’</cmsannotation> The <keyword id="15735850" type="General" weightage="20" keywordseo="paytm-share-buyback" source="Orion">Paytm share buyback</keyword> price has been set at ₹810, as against the current market price of ₹531 on Wednesday. The buyback will be done through the open market route, and the company’s key management personnel will not participate in it. It said that the buyback will be completed within a six-month period. In its regulatory filing, Paytm said that it has surplus liquidity, which it is utilising towards the buyback, after meeting its investment needs in technology, sales, marketing and other areas. “Paytm board believes that this buyback is a sign of confidence that the company is on a clear path to deliver cash flow profitability, and this buyback will not have any impact on its growth plans in the near future or on its profitability plans,” the company said in its filing. <cmsannotation type="cmsannotation" annotationid="Paytm stock surges 10% in December till date – analysts remain optimistic" comment="subhead" text="Paytm stock surges 10% in December till date – analysts remain optimistic">Paytm stock surges 10% in December till date – analysts remain optimistic</cmsannotation> Paytm’s shares have gained 10% in December so far. The company reported an improvement in its monthly operating metrics in terms of its lending business and merchant subscriptions. <div type="image" title="Paytm 01_04_22 to 14_12_22." msid="96220492" hostid="261" sizebytes="22720" caption="&amp;lt;p&amp;gt;Paytm share price in FY23 till date&amp;lt;/p&amp;gt;"></div> However, its shares are still down 75% from the issue price of ₹2,150. In its Q2 update, the company reported an 8% sequential increase in its loan disbursals to 9.2 million, and said there’s ample room for growth ahead. “While our loan distribution business has scaled significantly in the last few quarters, our penetration level for each product remains low, and gives us a long growth runway ahead,” the company said in its Q2 earnings conference call. Overall, analysts remain positive about Paytm’s prospects. Analysts at JP Morgan expect Paytm to burn $33 million in cash over the next three quarters, but reach adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) breakeven in Q2 FY24. Analysts at ICICI Securities maintained their ‘buy’ rating on the stock, saying “Paytm has been delivering better than our expectations as reflected in its operating performance over the past 2-3 quarters. This gives visibility around the company turning EBITDA-positive (before employee stock ownership plan cost) ahead of the guided timeline (Q2 FY24).” SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-jet-set-heres-how-billionaires-earned-lost-and-donated-in-2022/articleshow/96206744.cms">India’s jet-set: Here’s how billionaires earned, lost and donated in 2022</a> <a href="https://www.businessinsider.in/stock-market/news/paytm-hdfc-tvs-motor-among-stocks-to-watch-out-for-on-wednesday/articleshow/96214505.cms">Sensex, Nifty50 open higher amid positive global cues – Paytm, HDFC, TVS Motor among stocks in focus</a> <a href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mutual-funds-plunge-sharply-in-november-mfs-trim-holdings-in-icici-bank-hcl-tech-kotak-mahindra-bank/articleshow/96200043.cms">Inflows into equity mutual funds plunge sharply in November; MFs trim holdings in ICICI Bank, HCL Tech, Kotak Mahindra Bank</a>

Paytm share buyback at a 50% premium could support the stock in near term: JP Morgan

<ul><li>The share price of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s parent company <keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> has jumped 24% in the last two weeks.</li><li>The share prices were lingering a little over ₹707 on June 28, about ₹125 higher than its share price on June 13.</li><li>Investors have been advised to only buy <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> when it is available in the ₹680 to ₹700 range.</li></ul>Paytm investors can finally take a sigh of relief, no matter how brief that might be, as One97 Communications’ share price has been rallying for the last two weeks. The share price of Paytm’s parent company One97 Communications jumped by 10% since May 30, and 24% in the last two weeks. The share prices were lingering a little over ₹707 on June 28, about ₹125 higher than its share price on June 13. “Paytm share price has been rising for last two weeks after giving triangular pattern breakout at ₹650 levels. The stock is on cusp of giving cup and holder breakout at ₹720 apiece levels. If Paytm shares today closes above ₹720 today, then we can expect this stock to first hit ₹800 and then ₹940 per share levels,” Ravi Singhal, Vice Chairman at GCL Securities <a href="https://www.livemint.com/market/stock-market-news/paytm-share-price-surges-on-fourth-straight-day-stock-rises-24-in-two-weeks-11656395923472.html">said</a>. A cup and a holder breakout is a technical term which is used for stocks that resemble the ‘U’ of a cup and a downward drift to the handle. It’s basically a bullish trend where a stock is rising after a dip and could provide exits for those who enter at the right point. <cmsannotation type="cmsannotation" annotationid="Fundamentals have remain unchanged" comment="subhead" text="Fundamentals have remain unchanged">Fundamentals have remain unchanged</cmsannotation> A technical bounce back is in progress because its stock fell so much that it has become attractive at the current price point. Investors had been advised to buy Paytm shares when it is available in the ₹680-₹700 range, Singhal said. It has hit this range in the last few weeks, Meanwhile, Avinash Gorakshkar of Profitmart Securities noted that this is only a technical bounce bank and the fundamentals of the stock are still unchanged. “Paytm numbers in upcoming quarters are expected to remain on the same line as we witnessed recently. So, this bounce back in Paytm shares has nothing to do with its fundamentals,” he added. Macquarie believes that profitability is still an uphill battle for Paytm, which may take another 12 quarters — or about three years — to break even. While ICICI Securities expects Paytm to be EBITDA positive by FY25. Goldman Sachs expects Paytm’s pre-tax profit breakeven to land by September next year. It is, however, buoyed by the company’s improving monetization of the payments vertical and a robust growth in financial services and cloud businesses. <cmsannotation type="cmsannotation" annotationid="Still at a third of its IPO price" comment="subhead" text="Still at a third of its IPO price">Still at a third of its IPO price</cmsannotation> At ₹ 707, Paytm’s shares are still valued at only a third of ₹2,150, the price at which Paytm sold its shares during the initial public offering (IPO). People who invested in Paytm during its IPO are currently incurring a loss of 66% on their investment. The loss even reached 75%, when Paytm’s share prices touched ₹510.5 in May this year. Overall, the company’s shares have tanked 50% since the beginning of the year. The data mentioned on Trendlyne shows that the average target price of nine analysts on Paytm is ₹891, which is 26% higher than the current share price. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹915 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macquarie </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹450 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,070 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td></tr></tbody></table>Source: Brokerage reports SEE ALSO <a href="https://www.businessinsider.in/retail/news/lays-kurkure-and-bingo-are-taking-over-indian-snacks-like-aloo-bhujia/articleshow/92508625.cms">Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo Bhujia, Murukku</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-bajaj-auto-bank-of-baroda-among-stocks-to-watch-out-for-on-june-28/slidelist/92506964.cms"></a><a href="https://www.businessinsider.in/india/news/slow-sowing-wary-global-buyers-can-take-rice-prices-on-the-same-path-as-wheat/articleshow/92489067.cms">Slow sowing, wary global buyers can take rice prices on the same path as wheat</a> <a href="https://www.businessinsider.in/retail/news/its-food-not-fashion-where-price-pinches-as-shopping-bags-retailer-coffers-are-swelling/articleshow/92515313.cms" data-type="tilCustomLink">It’s food not fashion where price pinches as shopping bags, retailer coffers are swelling</a>

You Searched For "one97 communication" and got 12 results

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

BI India Bureau

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

BI India Bureau

Paytm shares jump 5% on receiving government's nod for investment in Paytm Payments Services

PTI

SEBI issues notice to Paytm on ESOPs given to CEO Sharma; firm says disclosure already made

PTI

Paytm Q1FY25 results: Revenue from payment services plunges to Rs 900 crore, monthly transacting users in June dip to 7.8 crore

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Adani-Paytm Deal: Both One97 Communications and Adani Group deny reports as ‘baseless’ and ‘speculative’

Sourabh Jain

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

ANI

Paytm to invest Rs 100 Crore in GIFT City; plans to offer AI-driven cross border remittance

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Paytm announces launch of its upgraded payments platform powered by 100% indigenous technology — a shining example of ‘Make in India’

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Paytm share buyback at a 50% premium could support the stock in near term: JP Morgan

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Paytm is on the cusp of a ‘cup and holder breakout’ — explaining the rally

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Here’s what analysts have to say about India’s biggest IPO by Paytm

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