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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

New Delhi, <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, one of the most recognised faces of India's fintech industry, has seen a fair share of controversies. Sharma launched <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> - an acronym for 'pay through mobile' - offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page ads in top newspapers with Prime Minister Narendra Modi's photo, calling demonetisation the "boldest decision in the financial history of independent India". With fewer currency notes in circulation, Paytm was on a roll. Sharma made a splash in 2018 by getting USD 300 million investment in Paytm from <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway. *Controversies* Paytm was mired in controversies with its Chinese connection following huge investments from Alibaba Group. The Chinese internet firm became the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offer. Alibaba group firm Antfin sold around 5 per cent shares to lower its stake below 25 per cent to comply with regulatory requirements at the time of IPO. To shed its Chinese-owned entity image, Paytm in August 2023 announced that founder and CEO Vijay Shekhar Sharma would acquire a 10.3 stake in Antfin through his overseas entity Resilient Asset Management BV which will make him the largest stakeholder in the company with 19.42 per cent stake. In return, Resilient issued a debt instrument --optionally convertible debentures, to Antfin thereby maintaining the economic interest of Alibaba group firm. With this transaction, Antfin's direct stake in Paytm was reduced to 13.5 per cent. Antfin further sold 3.6 per cent in Paytm to bring its shareholding to less than 10 per cent and at present holds 9.89 per cent of the fintech firm. The company's market cap has eroded drastically since the time of its listing. The company's IPO opened on November 8, 2021, in the price band of Rs 2,080-2,150 per share. The Paytm IPO made history with over Rs 18,300 crore share sale 'making it the largest public issue in India's corporate history. But the company's stock made a weak debut in the market on November 18 and hit a lower circuit after recording about 20 per cent decline during trading hours. It finally closed at Rs 1,560, down by about 27 per cent, compared to its issue price of Rs 2,150. Since then, Paytm shares have not been able to cross even half the mark of the issue price. After the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s January 31 move, One97 Communications shares tanked around 40 per cent to close at Rs 487.05 on BSE on Friday. Billionaire businessman <keyword id="19952201" type="General" weightage="20" keywordseo="warren-buffet" source="keywords">Warren Buffet</keyword>'s Berkshire Hathaway sold its stake in Paytm at a loss of 31 per cent per share in November 2023. Berkshire Hathaway had invested in Paytm for about Rs 1279 per share but sold it for Rs 877.29 apiece. At present, Cayman Island-registered SAIF III Mauritius Company Limited is the single largest direct shareholder in Paytm with a 10.83 stake followed by Sharma's Resilient Asset Management BV with a 10.29 per cent stake. SAIF Partners is led by Chinese-origin entrepreneurs with Andrew Y Yan as its managing partner. *Paytm run-ins with RBI* RBI on June 19, 2018, prohibited Paytm Payments Bank from opening any new account and wallet with effect from June 20, 2018, on account of supervisory concerns, which were lifted by RBI on December 27, 2018, with effect from December 31, 2018. The Office of Banking Ombudsman issued a show-cause notice dated March 6, 2019, for Paytm Payments Bank's failure to monitor a certain account maintained with it which had shown a sudden increase in the velocity of daily transactions involving immediate transfer to other banks. The actions were found to be in the violation of RBI's provisions on KYC. RBI rejected Paytm Payments Services Ltd's (PPSL) application to operate as a payment aggregator on November 25, 2022. The banking regulator asked the firm to re-submit applications within 120 days after it gets government approval on investment made by OCL into PPSL as per FDI guidelines. The regulator asked PPSL to continue operations with the condition that no new merchants should be onboard. After completion of 120 days, RBI again granted PPSL an extension but without removing the bar on new merchant onboarding. RBI issued a show cause notice to PPBL on July 29, 2021 for submitting false information to RBI confirming completion of the transfer of the Bharat Bill Payment Operating Unit ("BBPOU") by OCL to PPBL on August 28, 2017. The actual transfer of the BBPOU business by the Company to PPBL was completed only by March 31, 2021. RBI on October 1, 2021, imposed a penalty amounting to Rs 1 crore on PPBL for a contravention of the Payment and Settlement Systems Act, 2007. RBI imposed a penalty of Rs 5.93 crore on PPBL on October 10, 2023, after it found several non-compliances including banks failure to identify beneficial owners in respect of entities on-boarded by it for providing payout services. RBI found that PPBL did not monitor payout transactions and carry out risk profiling of entities availing payout services, breached the regulatory ceiling of end of the day balance in certain customer advance accounts availing payout services. The banking regulator found that PPBL reported a cyber security incident with delay and failed to implement device binding control measures related to 'SMS delivery receipt check'. PPBL video-based customer identification process infrastructure failed to prevent connections from IP addresses outside India.

Vijay Shekhar Sharma: The controversies of the architect of fintech

Exploring new restaurants and cuisine is fun but it can also turn out to be an expensive affair. To ensure that users get the best experience, India’s leading payments app <keyword id="6357120" type="General" weightage="30" keywordseo="paytm" source="Orion">Paytm</keyword> brings <keyword id="3259077" type="General" weightage="20" keywordseo="restaurant-deals" source="Orion">Restaurant Deals</keyword>. With Paytm Restaurants Deals, users can discover exciting discounts at their favourite eating joints in the city. <keyword id="18429271" type="General" weightage="100" keywordseo="paytm-restaurant-deals" source="Orion">Paytm Restaurant Deals</keyword> offers up to 30% off at more than 10,000 premium restaurants in 13 cities across the country. The fintech giant is offering exclusive deals to Paytm users on fine dine restaurants, pubs and lounges, cafes and fast food joints. Some of the top restaurants with great deals include Wow Momo, The Burger Club, Imperfecto, Barista, Castle's Barbeque, Mamagoto, Openhouse Cafe, and more. To explore great offers in the city or neighbourhood, users simply need to open the <keyword id="1736801" type="General" weightage="20" keywordseo="paytm-app" source="Orion">Paytm app</keyword>, and search for ‘Restaurant Deals’. After choosing the restaurant, claim the deal for free. During the visit to the chosen restaurant, users simply need to pay the bill using Restaurant Deals. The company is driving flexibility of payments through Paytm UPI, Paytm Wallet, cards and netbanking. For additional discounts up to 20%, users can also explore payments through Paytm Postpaid and Paytm Wallet. Paying via Paytm Postpaid can bring ₹50 cashback on a bill of ₹1,000, while Paytm Wallet will fetch 5% cashback up to ₹100 on your order. <cmsannotation type="cmsannotation" annotationid="How to use Paytm Deals:" comment="subhead" text="How to use Paytm Deals:">How to use Paytm Deals:</cmsannotation> <ol><li>Open the Paytm app and click on ‘All Services’ from the homepage. You can also scroll down the homepage to find the ‘Deals and Cashback’ section</li><li>Tap on the ‘Restaurant Deals’ Icon</li><li>Browse to find deals on top restaurants and tap on ‘Claim Deal’ for free. This will activate the ‘Pay Now’ option for the next seven days</li><li>While paying the bill at the outlet, use Paytm Restaurants Deals. The deal will be auto-applied.</li></ol>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm Restaurant Deals brings the best dining experience at top restaurants. Here's how you can avail amazing discounts

<ul><li>Unsecured <keyword id="35520" type="General" weightage="50" keywordseo="personal-loans" source="Orion">personal loans</keyword> account for 37% of Bajaj Finance’s loan book, while it is at 21% for Aditya Birla Capital and it is 27% for IIFL (standalone).</li><li>Tighter norms may impact <keyword id="6357120" type="General" weightage="80" keywordseo="paytm" source="Orion">Paytm</keyword>’s break-even timelines if there is a slowdown in loan disbursals.</li><li><keyword id="706950" type="General" weightage="50" keywordseo="aditya-birla-finance" source="Orion">Aditya Birla Finance</keyword> and IIFL may need to infuse capital after the November 16 tightening of capital norms by RBI. </li></ul>Reserve Bank of India’s <a href="https://www.businessinsider.in/finance/news/rbi-tightens-norms-on-personal-loans-for-banks-and-nbfcs-stock-reaction/articleshow/105277492.cms" data-type="tilCustomLink" target="_blank">crackdown on personal loan disbursals</a> by banks and non-banking finance companies will have a cascading effect on the sector. But the worst hit will be non-bank players as they will be hit on both asset and the liability sides. While they will have to pay higher rates while borrowing from banks and bond markets, they will also have to pass on higher costs to borrowers. This will slow down the rapid growth in their balance sheet, which has been driven by rapid growth in the disbursement of unsecured personal/consumer loans. According to analysts, non banking finance companies like Paytm and Bajaj Finance would be most affected by RBI’s move to tighten capital norms on unsecured loans and also loans disbursed to non banks. This will not only make lending more expensive for non banks but in many cases will also force them to raise more capital ahead of schedule. <keyword id="116253" type="General" weightage="80" keywordseo="sbi-cards" source="Orion">SBI Cards</keyword>, Bajaj Finance, IIFL and Aditya Birla have relatively higher proportion of unsecured loans on their portfolio and, therefore, tighter capital norms will impact them the most. Unsecured personal loans account for 37% of Bajaj Finance’s loan book, while it is 21% for Aditya Birla Capital and it is 27% for IIFL (standalone), according to Jefferies. According to Jefferies, SBI Cards can see an estimated.400 basis points cut in its Tier 1 capital adequacy ratio while Bajaj Finance can see 220 basis point hair cut to Tier 1 CAR. However, both NBFCs are well capitalised and have higher return on equity (low capital consumption). “IIFL (standalone entity) and Aditya Birla Capital can see a 50-80 bps haircut to Tier 1 capital, which can lower their Tier 1 to 13%/15%. IIFL may need to infuse capital in the standalone entity; at ABFL, next phase of capital raise may get advanced,” the global investment bank said in a report. in funding costs. SBI Cards faces highest drag on Tier I CAR and highest dependence on bank-funding. The tighter norms will not impact NBFCs but even fintechs like Paytm. Loan disbursals by fintechs will also slow down from the current levels as they may find it hard to raise funds and even pass on higher cost loans to consumers. Japanese investment bank Nomura says in a report, that in the past 18 months, nearly 25%-30% of incremental growth for NBFCs has come from unsecured retail. Any moderation in unsecured credit for NBFCs will hence have an impact on both growth and profitability for NBFCs in our view. Moreover, the regulatory action comes at a time when credit costs in these segments have started to inch up. For Paytm's lending partners, higher funding costs and increased capital requirements will affect product profitability in the buy-now-pay-later and personal loans segments. Non bank lenders like private banks may also start to improve their underwriting standards after this which will impact overall growth. Jefferies says: “We also watch out for the pricing environment and ability of Paytm to pass-through hike in funding costs. In our base case earnings, we forecast consumer loan disbursal growth to normalise from 90% in FY24 to 40% in FY25 and 35% in FY26. Any additional 10 percentage point slower disbursal growth (vs. base case) in FY25/26E can lead to 5-10% impact on lending revenues and ~2-3% impact on overall contributions, which may impact break-even timelines as well. Paytm may be able to compensate for this through faster ramp-up of its merchant financing business.” ALSO READ: <a href="https://www.businessinsider.in/personal-finance/news/the-dark-truth-behind-rbis-crackdown-on-easy-personal-loans/articleshow/105287366.cms" data-type="tilCustomLink" target="_blank">The dark truth behind RBI’s crackdown on easy personal loans</a>

RBI crackdown on personal loans – Bajaj Finance, IIFL, Aditya Birla and SBI Cards to take a bigger hit, say analysts

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

How Paytm became the leader in merchant payments with pioneering solutions like Paytm QR and Soundbox

<ul><li>Major websites like Zomato, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, Sony LIV and others in India, which were affected by another <keyword id="208623" type="COMPANY" weightage="20" keywordseo="Akamai">Akamai</keyword> outage are now back up.</li><li>This is the second outage to be reported in as many months.</li><li>The internet infrastructure provider is aware of the issue and is currently working on fixing the issue.</li></ul>Several major websites were hit by a widespread <keyword id="6957080" type="UNKNOWN" weightage="20" keywordseo="internet-outage">internet outage</keyword>. Popular websites like Zomato, Paytm, Sony LIV, PlayStation Network and Disney+Hotstar were spotted being unable to load and affected by the disruption. A little over an hour later, the sites are back to functioning normally. <div type="twitter" handle="zomato" handlename="zomato" image="http://pbs.twimg.com/profile_images/1100268333352525826/IkyIXuZ4_normal.png" favoritecount="147" retweetcount="4" status="Phew! We are back!" createdat="1626973586000" id="1418256133597192192"></div> According to internet outage tracker <a href="https://downdetector.in/archive/">DownDetector</a>, the outage started around 8:55 pm Indian Standard Time (IST). <div type="image" title="Screenshot (51)" msid="84654467" hostid="261" caption="&amp;lt;p&amp;gt;Akamai outage&amp;lt;/p&amp;gt;"></div> The internet infrastructure provider behind these websites, Akamai, confirmed the outage at its end at around 10:15 pm. It took the company around 30 minutes to get things back to normal. <div type="twitter" handle="Akamai" handlename="Akamai Technologies" image="http://pbs.twimg.com/profile_images/1281610858343403521/Rz6H-Osj_normal.png" favoritecount="271" retweetcount="258" status="We are continuing to monitor the situation and can confirm this was not a result of a cyberattack on the Akamai platform." createdat="1626973949000" id="1418257652660985858"></div> Indian websites weren't the only ones caught up in the disruption. The outage hit major parts of the internet around the globe including sites like Delta Air Lines, British Airways, Capital One, Go Daddy, Vanguard, UPS, LastPass, AT&amp;T and Costco.

Zomato, Paytm, Sony LIV, Disney+Hotstar back up after glitch takes down internet

India’s digital payments and <keyword id="1011037" type="General" weightage="20" keywordseo="qr-code" source="Orion">QR code</keyword> pioneer <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is known for enabling quick and convenient UPI payments for users with one of the best <a href="https://www.npci.org.in/what-we-do/upi/upi-ecosystem-statistics#innerTabFourFeb23">success rate</a> in the industry. This feat has not gone unnoticed by its millions of users, who have taken to social media to laud the fintech giant’s efficiency and speed. Paytm has always been at the forefront of innovation and has been able to optimize its UPI infrastructure to ensure that transactions are completed in the shortest possible time, with a <a href="https://www.npci.org.in/what-we-do/upi/upi-ecosystem-statistics#innerTabFourFeb23">success rate</a> that is unmatched by any other platform in the industry. Paytm Payments Bank, which owns <keyword id="6076084" type="General" weightage="20" keywordseo="paytm-upi" source="Orion">Paytm UPI</keyword>, recently won the Shrestha Puraskar award from the Ministry of Electronics and Information Technology (MeitY), for maintaining one of the lowest average technical decline rates in UPI transactions. Further, by being the first to launch UPI LITE, Paytm has once again demonstrated its commitment to innovation and user satisfaction. <div type="twitter" handle="pranavdotexe" handlename="Pranav🚀" image="http://pbs.twimg.com/profile_images/1610852058953048064/pvkKEoId_normal.jpg" favoritecount="0" retweetcount="0" status="1. I don't want to render a whole super app just to do a UPI payment -- GPay wins over here2. Need higher success… https://t.co/lRYEtJ5XGo" createdat="1677918570000" id="1631934880803336193"></div> “Need higher success and low bank server down scenarios - Paytm’s working better for me. Don't want to put in a pin every time I send 10 rupees - Paytm has a product,” tweeted a user recently. <div type="twitter" handle="suryak_mishra" handlename="Suryakant" image="http://pbs.twimg.com/profile_images/1617570764076777473/l9zDsyjz_normal.jpg" favoritecount="0" retweetcount="0" status="UPI Lite could be a game changer. easy to use and cluster-free passbook.#UPI #Paytm" createdat="1677669896000" id="1630891869797330946"></div> With <keyword id="16361842" type="General" weightage="100" keywordseo="Paytm-UPI-LITE" source="Orion">Paytm UPI LITE</keyword>, the company has empowered users with quick and seamless transactions at a lightning-fast speed on Paytm Super App. Users can carry out multiple transactions of smaller values of up to ₹200. Paytm UPI LITE is an ‘on-device wallet’ that allows users to add a maximum of ₹2,000 twice a day, resulting in a total daily usage of up to ₹4,000, at a single tap. <div type="twitter" handle="harishsai21" handlename="Harish N" image="http://pbs.twimg.com/profile_images/1516983664625676290/XZZE6ZhK_normal.jpg" favoritecount="10" retweetcount="0" status="UPI lite on Paytm may be a game changer in increasing their overall market share. take note, almost an irreversib… https://t.co/Ty5wX1DvSl" createdat="1677689075000" id="1630972312039358466"></div> <div type="twitter" handle="kis_cryptoverse" handlename="Kishan Srivastava" image="http://pbs.twimg.com/profile_images/1522913561122533376/GPLVO-1R_normal.jpg" favoritecount="84" retweetcount="2" status="@Ravisutanjani UPI lite is basically a new version of Paytm walletOld wine in new bottleBut yes its actually go… https://t.co/BIyFDif9AI" createdat="1677263489000" id="1629187271542059009"></div> Speaking about his experience using Paytm UPI LITE, a user said, “It’s actually good and saves the time wasted due to bank servers being down and payment failure.” <div type="twitter" handle="notionhead" handlename="Notionhead ✨ (Soumya)" image="http://pbs.twimg.com/profile_images/1619766176090923008/2p_F6Xbg_normal.jpg" favoritecount="0" retweetcount="0" status="@aakashprakash @Ravisutanjani @theweb3sharma Never had a single transaction failure on Paytm in the last 7 years." createdat="1677441260000" id="1629932899964166144"></div> Paytm UPI LITE offers faster real-time transactions as no 4-6 digit PIN is required to make any payment. Paytm UPI is the most preferred choice of users owing to its ease, convenience, superior user experience, security and interoperability. <div type="twitter" handle="LKaluvala" handlename="Expect us" image="http://pbs.twimg.com/profile_images/1554309001914920960/KUgGMlt5_normal.jpg" favoritecount="0" retweetcount="0" status="@Ravisutanjani Paytm has more success rate in payment . I don't use phone pe as much as i use paytm. Paytm is all in one" createdat="1677433846000" id="1629901800911564800"></div> Paytm UPI LITE will never fail even during peak transaction hours, even when banks have success rate issues. <div type="twitter" handle="Rofl_babuu" handlename="ROFL" image="http://pbs.twimg.com/profile_images/1478602082370441218/g0lrMx_n_normal.jpg" favoritecount="2" retweetcount="1" status="@Ravisutanjani I always use this feature of Paytm. Add 500 or any amount in Paytm wallet. Use this to pay at grocer… https://t.co/5Kwsj2qyQF" createdat="1677278910000" id="1629251952956588034"></div> Appreciating the convenience of using Paytm UPI LITE, a twitter user recently wrote, “I always use this feature of Paytm. Add 500 or any amount in Paytm wallet. Use this to pay at grocery stores, canteen, diary, stationary etc. Paytm within 1-2 secs. No failure. No Pin. Clean bank statement” Transactions made through UPI LITE will be deducted from the UPI LITE balance and not from the linked bank account. This reduces the number of frequent debit entries in the bank passbook when users make small-value payments. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

From most credible UPI success rate to no PIN for small value payments – here’s why users believe Paytm is India’s fintech pioneer

India’s payment revolution is showing no signs of slowing down, as both merchants and consumers continue to embrace digital payment technology with enthusiasm. <keyword id="9418617" type="General" weightage="20" keywordseo="paytm-soundbox" source="Orion">Paytm Soundbox</keyword>, the pioneering IoT device launched to address a specific need amongst the merchants, has witnessed tremendous adoption since its launch. This battery-operated device offers a range of features that have made it the most preferred choice for merchants in the country to accept payments, including <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s All-In-One QR, 4G support, cashback, and seven-day battery life. Paytm has further strengthened their leadership in offline payments with a cumulative deployment of 5.8 million devices including PoS and Soundbox, according to their Operating Performance Update for Q3FY23. This represents an increase of 1 million merchants paying subscriptions for payment devices in the quarter and marks the second consecutive quarter in which they have achieved device deployment of 1 million. In a year, Paytm has gone from 2 million devices to 5.8 million devices. Paytm's focus on subscription services continues to expand as they focus on creating additional payment monetization beyond MDR. With its subscription-as-a-service model, the strong adoption of devices drives higher payment volumes and subscription revenues, while increasing the funnel for their high-margin merchant loan distribution business. The robust adoption of subscription products by merchants is making payments increasingly monetizable and profitable for them. Paytm Soundbox offers merchants instant audio confirmation in any of the 11 supported languages for every payment made through a Paytm QR code. This has helped to build trust between merchants and customers, as merchants can quickly confirm successful payments. It supports multiple payment methods such as Paytm Wallet, Paytm Postpaid, Paytm UPI and other UPI apps, net banking, and cards, therefore providing more flexibility and convenience to the merchants. By leveraging their insights into merchants’ payment flow, they are able to offer them the ability to seamlessly obtain loans from their financial institution partners. This capability makes it more attractive for merchants to use their platform for all their payment and financial services needs. According to Paytm's Q2FY23 earnings presentation, merchants who also have Paytm devices accounted for over 85% of merchant loan disbursals. Their lending partners are able to rely on their distribution and merchant insights, otherwise unavailable to them. Merchants are increasingly willing to pay for technology that enhances the trustworthiness of digital payments. This presents them with a great opportunity to enable financial inclusion for a large number of merchants. This journey means that the relationship they have with their merchants expands over time from QR payments to devices to credit. The penetration level for merchant loans remains low at just 4.4% of total devices deployed (as per Q2FY23 earnings presentation), suggesting that there is significant headroom for growth in this area. As Paytm continues to add more devices, the total market for merchant loans will continue to expand, providing opportunities for further growth. 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

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