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<keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, the digital payments platform, has decided to spend Rs 600 crore on marketing initiatives for its <a href="http://www.businessinsider.in/Wipro-to-handle-Paytms-payments-bank-for-a-year/articleshow/52073018.cms">payment banking unit </a>which is to be launched later this year. 
 
The Noida-headquartered company has already been issued an <a href="http://www.businessinsider.in/PayU-India-and-Paytm-BBPOU/articleshow/52293605.cms">in-principle license by RBI </a>in August 2015, and now stands eligible to launch <a href="http://www.businessinsider.in/Paytm-founder-Vijay-Shekhar-Sharma-will-now-chair-IAMAI-payments-banks-group/articleshow/51823654.cms">payment banking</a> operations in the country. 
 
The 600-crore budget will be utilised across several media platforms including, television, digital print, radio and out-of-home advertising. Rs 50 crore has already been set aside for TV commercials, and one can spot them being aired on Indian channels. 
 
Also read: <a href="http://www.businessinsider.in/Paytm-hires-Citibank-executives/articleshow/52289514.cms">Former Citibank executives to lead banking operations at Paytm’s payments bank</a> 
 
"We are looking at increased saliency around our money transfer, which includes, person-to-person payments at kirana stores and petrol pumps bill payments and movie ticketing businesses. We expect a minimum 40 per cent jump across all these categories," said Shankar Nath, senior vice-president, Paytm. 
 
<a href="https://www.youtube.com/watch?v=P1srif6ofik">Image source</a>

Paytm plans Rs 600 crore marketing budget for payment banks unit

<ul><li>After a year of challenges, social film reaffirms <keyword id="6357120" type="COMPANY" weightage="20" keywordseo="paytm">Paytm</keyword>'s promise of continuing to use digital technology to benefit India and its citizens.</li><li>Showcases Paytm products and services like All-in-One QR, All-in-One Android POS device and instant money transfer.</li></ul>Paytm has launched an uplifting social film as part of its new "#Har Ghar ka, Desh bhar ka – Paytm, Proudly Indian" campaign to highlight how the company has stood by every Indian in a year filled with difficulties. Acting as a message of hope for the new year ahead, it reaffirms Paytm's commitment to support all fellow citizens as the nation enters 2021. <div type="Youtube" id="3cCi_lPzc_w" title="&quot;Har Ghar Ka, Desh Bhar Ka&quot; – Paytm New Year Film 2021" thumbUrl="https://i.ytimg.com/vi/3cCi_lPzc_w/mqdefault.jpg"></div> The film, which has been favourably received on social media, showcases how Paytm has remained a steadfast partner in the hopes, dreams and aspirations of every Indian by becoming an integral part of every home. It shows glimpses of a host of products and services offered by Paytm that uses digital technology to improve the lives of every Indian. This includes instant money transfers through the Paytm app which remains among the quickest, safest and easiest ways to directly send and receive money into one's bank accounts with a simple, few clicks. The innovative Paytm Soundbox and Paytm All-in-One QR products are also seen in the film, acting as crucial tools to support and expand the business of merchants, both small and large. Abhinav Kumar, Vice President at Paytm said, "2020 as a year saw difficulties come in various ways. The world for once felt the same throughout – fear, anxiety, and many other emotions that swept across. Over the years, Paytm has been present in people's lives and tried to make a difference in the best way possible. During these unprecedented times, we are glad to be a small agent of help which bridged the gap for many. Be it within the family, amongst friends or even the ones who help to make our lives a lot easier. 'Har ghar ka, Desh Bhar ka' is our ode to the many who fought through these tough times and moved forward with courage. New year brings in new hope and we would like to believe the best is yet to come." From supporting the fight against the spread of coronavirus and helping those who have been affected the most by the pandemic to continuously providing the best-in-class digital solutions to Indians, Paytm has aimed to support India and its citizens repeatedly in 2020. Over the year, it distributed 10 lakh soaps and handwashes, 4 lakh masks and over 30 lakh hygiene products to frontline workers and those that might not have the means to buy them. It also served over 4.4 million meals to daily wage earners in Noida, Mumbai, Bengaluru, Hyderabad, and Chennai, apart from a number of similar activities.

Paytm's new year film reaffirms its promise of continuing to use digital technology to benefit India

New Delhi, Jun 18 () Financial services platform Paytm on Thursday said it has set up its largest campus with over 5,000 seats in Noida, Uttar Pradesh, to accommodate its expanding team. "The company has taken up over 5.5 lakh sq ft of space comprising 21 floors spread across two towers in the newly set up office complex. Paytm plans to gradually shift all operations based in Delhi-NCR to this campus including the headquarters of One97 Communications," Paytm said in a statement. Paytm - which has had its headquarters in Noida for over two decades - said it is on track to shift to the new campus by December this year. The company will give up the leases of a total of 19 facilities across the country, out of which 16 are small regional sales offices, it added. "While the new campus will have over 5,000 seats, the company will follow all social distancing guidelines that the government would mandate when it shifts operations to the new complex by this year-end. All teams of Paytm would be housed on various floors of the same tower of the complex," it said. Paytm said it is also planning to take up over 1.5 lakh sq ft of office space in Bengaluru as it expands operations and teams of Paytm Mall, Paytm Money, Paytm Travel and other business units. The planned new campus will house Paytm's large engineering base the company is in the process of setting up, it added. "Paytm is a dynamic firm that is expanding at a rapid scale. While we have time to move into our biggest campus, we are streamlining some of our real estate spread across India. We will not extend the leases of some of our offices as our colleagues will continue working from home," Paytm Vice President Narendra Kumar said. Consolidating offices to one large campus would improve operational efficiency and further create synergies between various teams and processes, he added. SR RUJ RUJ

Paytm sets up new campus with 5,000 seats in Noida

New Delhi, May 12 () Paytm Money on Tuesday said it has added National Pension System (NPS) to its app after approval from the Pension Fund Regulatory and Development Authority (PFRDA). "This new addition is expected to benefit investors by helping them save for their retirement while also enabling tax benefits," a statement said. In 2009, the 'All Citizen Model' in NPS was launched that allows any individual to enroll in NPS. Till date, 13 lakh investors have enrolled under the 'All Citizen Model', the statement said, adding that Paytm Money intends to increase this number manifold by enabling investments in NPS via a simple and quick digital investing experience. "In a country like India with its huge young working population, retirement planning needs to be simplified. We want to bring NPS investing to millions of Indians and help them build a retirement corpus. "It sits perfectly with our vision of democratising wealth management in India," Amit Nayyar, President (Financial Services) at Paytm, said. NPS, as an offering, also incentivises users to save additional taxes and hence, complements the wide range of existing tax-saver mutual funds on Paytm's platform, he added. The statement said Paytm Money will offer NPS with the choice to invest in tier 1 (Tax Saver scheme) and tier 2 (zero lock-in period scheme). Paytm Money has more than 5 million users. SR RVK

Paytm Money adds NPS to platform

New Delhi, Apr 27 () Paytm on Monday said it has developed a 'contactless in-store ordering' solution to help restaurants and eateries minimise physical contacts for menu, billing and cash transactions after these businesses open after the lockdown. The digital payments major aims to onboard over one lakh restaurants for the solution. It is looking at tapping into top-30 cities to start with, and then rolling out to other cities. In a statement, Paytm said it has developed a QR code that will be displayed at these restaurants that users can scan from the Paytm app to browse the menu and place orders. This will avoid the need to touch the menu card that could be unsanitised and also minimises interaction with the servers, it added. Online food aggregator and delivery platform Zomato has also said it is working towards adding new features on its app that will allow diners to use online menus, place orders, and make payments when they visit restaurants after the lifting of the lockdown imposed to contain the spread of coronavirus infection. Paytm said its solution supports each of the payment methods, including Paytm Wallet, Paytm UPI, net-banking and cards, and offers live order updates on the Paytm app, the statement said. "In the first phase, the company is in the process of onboarding over a lakh restaurant which will help them to ensure social distancing amidst COVID-19 fears. This, in turn, will also enhance the restaurant's efficiency and trust for the customers to recover their business while reducing cost overheads," the statement said. The company added that it will extend this solution to all leading quick service restaurants and and dine-in brands. "We understand that after the lockdown, our country will require a safe dining and food ordering experience. Therefore, we have built this technology to help restaurants and their customers to follow social-distancing norms. With our 'contactless in-store ordering', they will avoid touching menu cards and cash for a safer experience," Paytm Vice-President Nikhil Saigal said. SR HRS

Paytm builds 'contactless in-store ordering' solution for restaurants after lockdown

<ul><li>Launches 3 unique ads on digital platforms for raising awareness on direct bank transfers using mobile number.</li><li>Showcases easy of Money Transfers from Paytm app at Zero charge, without the need for Wallet KYC.</li></ul>Paytm has launched 3 new ads on social media, as part of its new #MoneyTransferHuaEasy campaign to raise awareness of how instant money transfer through the Paytm app remains a quick, safe and easy way to directly send and receive money into one's Bank accounts. The films, targeted at millenials, highlight how by simply choosing the recipient's Mobile number, users can transfer money directly from their bank a/c at zero charge. Without the need for wallet KYC. The films feature internet sensations <keyword id="8944292" type="PERSON" weightage="20" keywordseo="saloni-gaur">Saloni Gaur</keyword>, Danish Sait and Paytm's very own, and the guy best known for Trivago's ads, <keyword id="193898" type="PERSON" weightage="20" keywordseo="Abhinav-Kumar">Abhinav Kumar</keyword>. <div type="Youtube" id="oNUwQ7Zirfo" title="Money Transfer hua Easy! ft. Abhinav Kumar" thumbUrl="https://i.ytimg.com/vi/oNUwQ7Zirfo/mqdefault.jpg"></div> Prior to this, the company had launched multiple TV ads that had struck a chord with millions of Indians. While the public interest in the entire campaign has remained massive, certain scenes from the earlier ads have become especially popular due to the portrayal of episodes from everyday lives. These included a scene from an Indian wedding ceremony where the groom transfers money to his sister-in-law’s bank account by just using mobile number and in return, gets back his shoes from her, had a take on the popular Indian marriage tradition. Another scene of a young female tenant paying her rent through the Paytm app, to her landlord's shy son, also got major positive reviews. <div type="Youtube" id="e2hjxPf0T4E" title="Money Transfer hua Easy! ft. Saloni Gaur" thumbUrl="https://i.ytimg.com/vi/e2hjxPf0T4E/mqdefault.jpg"></div> With the latest series of films, the company has now released 6 large scale entertaining films as part of its initiative to highlight the ease of making digital payments without the need of completing their Wallet KYC. Apart from the obvious benefits, users are also assured of sturdy security architecture, the best success rate for transactions in the industry and a chance to win assured cashbacks. <div type="Youtube" id="6b0jFDTNGs0" title="Money Transfer hua Easy! ft. Danish Sait" thumbUrl="https://i.ytimg.com/vi/6b0jFDTNGs0/mqdefault.jpg"></div> Abhinav Kumar, Vice President at Paytm said, "Paytm remains committed to expanding the reach of affordable and easy to use technology, to every citizen. We believe that digital payments solutions are not only a great enabler in addressing daily challenges but also helps improve the quality of lives of our fellow countrymen. Consumers now have the option of instantly making payments directly from their Bank accounts, by simply entering the recipient’s mobile number on the Paytm App. No other steps such as Wallet KYC are required, while transaction charges are also absent. The new marketing campaign reflects that and is geared around taking forward this message to the consumers, making them aware of the digital payments options they have. It also aims to further promote our mission to increase seamless digital transactions across the country."

Trivago’s Abhinav Kumar features in his first Paytm ad

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

Delhi-NCR has emerged as India's digital payments capital whereas Tamil Nadu's Katpadi is the fastest growing city for digital payments with 7X growth in 2022, One97 Communications Limited (OCL), that owns leading payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, said in a report on Wednesday. The company helped its users avoid 1,618,796,629 trips to ATMs. <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is taking digital payments far and wide, driving financial inclusion with two out of three of its new users coming from smaller cities and towns. According to the aPaytm 2022 Recap' report, which highlighted interesting trends of transactions made through Paytm in 2022, <keyword id="6076084" type="General" weightage="20" keywordseo="Paytm-UPI" source="Orion">Paytm UPI</keyword> is one of the most preferred payment methods for Indians, with its superfast and secure payments. An intriguing observation is that the maximum number of payments have been done at 7.23 p.m. with Wednesday emerging as the busiest day in the week for digital transactions. Two of the most common names among Paytm's users are Rahul and Pooja, according to the report. Chennai and Trichy in Tamil Nadu have the highest percentage of offline payments on food and beverages while Amritsar saw the highest spend on health and grooming through Paytm. Noida and Nagpur saw the highest percentage of spending via Paytm on micro sellers or street side vendors. Paytm's market in the North East also saw huge growth. The fastest growing cities in the North East for UPI transactions are -- Lohit in Arunachal Pradesh, South Sikkim and Ranipool, and Assam's Guwahati, Dibrugarh, Jorhat and Kamrup, the report mentioned. "As the pioneer of QR and mobile-based payments in India, we continue to see widespread love for the most trusted payments app -- Paytm," said a company spokesperson. "Over the last year, we have seen greater adoption among consumers and merchants, leading to some interesting trends with <keyword id="6076084" type="General" weightage="20" keywordseo="Paytm-UPI" source="Orion">Paytm UPI</keyword> leading the way. With the trust bestowed upon us by our users, we remain focused on driving financial inclusion in India," the spokesperson added. One user made transactions in 106 cities across 20 states. Another user booked flights between Mumbai and Delhi 358 times using the Paytm app, said the report. Paytm continues to strengthen its leadership in offline payments with more than 5.5 million merchants now paying subscriptions for payment devices. <keyword id="9418617" type="General" weightage="20" keywordseo="Paytm-Soundbox" source="Orion">Paytm Soundbox</keyword> is the sound of merchant transactions in India, with a new merchant and their customers being greeted by its melody every six seconds. With Paytm UPI, the company enables seamless and superfast money transfers. One user referred more than 1,300 of his friends and family to Paytm last year and earned over Rs 1 lakh. "Engaging observations have been seen in merchant transactions with Rs 20 being the most common amount paid on <keyword id="4053117" type="General" weightage="20" keywordseo="Paytm-merchant" source="Orion">Paytm merchant</keyword> QRs. Varanasi has seen 213 per cent growth in Offline QR transactions," the findings showed. During the online Diwali sale season, the highest amount spent by a single user was Rs 2.8 lakhs. Another festival that saw a high volume of Paytm UPI transactions is Rakhi, with Rs 1,100 being the favourite "shagan". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/most-anticipated-indian-movies-releasing-in-2023/slidelist/96560782.cms">SRK, Rajnikanth, Ranveer Singh to fire up the silver screens in 2023: most-anticipated Indian movie releases</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-digital-ad-spend-estimated-to-surge-to-21-billion-in-the-next-five-years-rising-2-5x-over-fy22-levels-says-redseer/articleshow/96544113.cms">India’s digital ad spend estimated to surge to $21 billion in the next five years, rising 2.5x over FY22 levels, says Redseer</a>

Tamil Nadu's Katpadi is the fastest growing city for digital payments: Paytm report

<ul><li>Apart from a slight dip as the nationwide lockdown started, UPI’s numbers had been growing constantly until January 2021.</li><li>While there’s no beating <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="phonepe">PhonePe</keyword>’s phenomenal growth in the space, what’s noticeable is <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s rise in the segment.</li><li>Paytm’s growth in UPI comes as the payments method sees widespread adoption from merchants.</li></ul>With the COVID-19 pandemic, the move to digital has become even more important and with that, the growth of India’s financial technology players. Over the past one year, UPI or United Payments Interface, India’s burgeoning digital payments bet, has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword>. Apart from a slight dip as the nationwide lockdown started, UPI’s numbers had been growing constantly until January 2021. <div type="image" title="UPI 2020 final" msid="81527645" hostid="261"></div> But what’s interesting is how the top three players are vying for a bigger share of the market. <div type="image" title="upi apps 1" msid="81527655" hostid="261"></div> While there’s no beating PhonePe’s phenomenal growth in the space, what’s noticeable is Paytm’s rise in the segment, even while Google Pay, which was once the leader in UPI has been seeing its numbers decreasing for the past four months. <cmsannotation type="cmsannotation" annotationid="Merchants – the next big driver" comment="subhead" text="Merchants – the next big driver">Merchants – the next big driver</cmsannotation> Paytm’s growth in UPI comes as the payments method sees widespread adoption from merchants. And that’s also where the current market leader PhonePe has been winning the game. “Paytm has traditionally been much stronger in the P2M (peer to merchants) segment than the P2P (peer to peer) segment, as the usage of UPI starts to become more and more for commerce, that is where Paytm has gained. Google Pay has been a more consumer app, while PhonePe has been both. Ultimately, how much P2P payment will happen, what drives payments is commerce,” Shishir Mankad, head of financial services, Praxis Global Alliance told Business Insider. Narendra Yadav, Vice President, Paytm told Business Insider that P2M transactions are 70% of Paytm’s overall transactions, whereas for UPI overall that share is around 40%. But Yadav also said that the company’s dominance in merchants is not yet completely visible in UPI. “Our focus has been on merchants – online or offline. Whenever merchant transactions are increasing, Paytm will benefit. And after COVID-19, merchants have been moving to digital transactions where Paytm is also seeing huge growth,” he said. Business Insider has sent queries to Google Pay and PhonePe. We will update the copy if and when there is a response. <cmsannotation type="cmsannotation" annotationid="Success rate of UPI transactions" comment="subhead" text="Success rate of UPI transactions">Success rate of UPI transactions</cmsannotation> Paytm said that as per a NPCI report it registers the lowest technical decline rate of 0.01% as compared to all UPI remitter banks and 0.04% as compared to all UPI beneficiary banks. “Paytm’s success rate in UPI is much better, and there’s no one who comes closer to that,” said Yadav. However, Gupta believes that when compared to the likes of Google Pay the reasons are beyond the company. “The reason lies with banks and not Google Pay. Paytm has an advantage because it's a payments bank, so it controls the entire stack which basically means a lower failure rate. Having said that Google Pay works with three or four major banks and failure rates aren’t just dependent on banks but also NPCI’s UPI stack,” Arnav Gupta, analyst at Forrester told Business Insider. <cmsannotation type="cmsannotation" annotationid="Adopting new users in UPI" comment="subhead" text="Adopting new users in UPI">Adopting new users in UPI</cmsannotation> The acceleration in UPI also means new users and new payers being added to the ecosystem. And players have also been spending on marketing to get these users. Both Paytm and PhonePe have gone on to sponsor Indian Premier League, the glam cricketing tournament. “These numbers are dependent on the kind of marketing and ad spending these companies keep doing. Transactional volumes are always increasing, and with that the average transaction ticket size is also increasing. Digital adoption by the consumers is on the higher side especially due to the COVID-19 pandemic, a lot of new users and new payers were added to the ecosystem,” said Gupta. The Vijay Shekhar Sharma-led company had recently said that it processes 1.2 billion transactions in a month. In January 2021, Walmart-owned PhonePe had said it processes over a billion monthly transactions. “PhonePe now has more than 275 million lifetime registered users, which essentially means that one in every five Indians now has PhonePe. Our monthly transaction count is up nearly 100% year-over-year. Our monthly active users (MAU) has crossed 110 million monthly users with a very healthy 97% monthly customer repeat rate. Even in terms of monetary value, our annualised total payment volume (TPV) run rate has crossed the $300 billion mark,” PhonePe’s chief executive Sameer Nigam had said during Walmart’s fourth quarter earnings. Meanwhile, Paytm knows it has a long way to go in the UPI ecosystem. The $16 billion startup has also announced, on Monday, that its UPI handles have been approved by India stock regulator Securities and Exchange Board of India for users to pay for IPOs. And this is just one of the tricks that Paytm is using to leverage its other businesses. “Paytm has many businesses, and if they put their might behind this it will surely yield results. While in UPI, Paytm is a distant third, if you look at Paytm wallet to wallet transactions that’s very large but doesn’t get recorded as it doesn’t enter any settlement,” said Mankad. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/banks-are-not-liable-to-cough-up-payments-if-you-have-been-a-victim-of-fraud-or-scams/articleshow/81526097.cms">Banks are not liable to cough up payments if you have been a victim of fraud or scams</a> <a href="https://www.businessinsider.in/business/startups/news/cred-which-rewards-you-for-paying-your-credit-card-bills-is-reportedly-indias-latest-unicorn/articleshow/81523219.cms">CRED, which rewards you for paying your credit card bills, is reportedly India’s latest unicorn as its valuation more than doubles in two months</a>

Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay

New Delhi, Nov 28 () Digital payments major Paytm is looking at raising another round of funding of USD 1 billion, and is in discussion with multiple investors, including former UK Prime Minister David Cameron, according to sources.
 Sources close to the development said the discussions are on and might take a few weeks to get finalised.
 They added that the funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
 Paytm declined to comment, while a response from Cameron could not be elicited immediately.
 Paytm had earlier this week announced a USD 1 billion (around Rs 7,173 crore) fund raise led by US-based asset management firm T Rowe Price. Existing investors Alibaba, Softbank and Discovery Capital had also participated in the funding round.
 Interestingly, Paytm founder and Chief Executive Officer Vijay Shekhar Sharma tweeted a photograph of him and Cameron on Thursday.
 "With so inspiring and savvy @David_Cameron in Singapore! Thanks Sir for your lesson on giving back to society and creating social impact with business," he added.
 On Monday, Paytm had said it is planning to invest around USD 1.4 billion over the next three years to expand financial services.
 Reports earlier this year had stated that Paytm, which is facing mounting losses, was looking at raising up to USD 2 billion in funding. The company has said it will look at a public listing only after 2021.
 Paytm had raised USD 300 million from Warren Buffett's Berkshire Hathaway in September last year.
 One97 Communications Ltd (OCL), the parent company of Paytm, had posted a loss of Rs 3,959.6 crore in 2018-19 as against Rs 1,490 crore a year ago, and its standalone revenue rose marginally to Rs 3,319 crore from Rs 3,229 crore in 2017-18, as per reports. SR HRS

Paytm in talks to raise another USD 1 bn funding: Sources

New Delhi, Mar 28 () Digital payments company Paytm on Saturday said it aims to contribute Rs 500 crore to Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES).For every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10, Paytm said in a statement."We are honoured to do our duty to aid the government in all the relief measures being taken to fight the Corona pandemic. We hope our users wholeheartedly donate to PM CARES fund and help save lives," Paytm President Madhur Deora said.He added that the company will make a contribution for every payment transaction using the Paytm app and instruments, and this money would be directly sent to the PM-CARES fund.Previously, Paytm had created a Rs 5 crore fund for innovators who are developing medical instruments or medicines to combat the virus.The PM CARES Fund is exempt under the Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PM-CARES are notified for 100 per cent deduction from taxable income under section 80(G) of the Income Tax Act, 1961. SR MRMR

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Paytm plans Rs 600 crore marketing budget for payment banks unit

BI India Bureau

Paytm's new year film reaffirms its promise of continuing to use digital technology to benefit India

BI India Partner

Paytm sets up new campus with 5,000 seats in Noida

PTI

Paytm Money adds NPS to platform

PTI

Paytm builds 'contactless in-store ordering' solution for restaurants after lockdown

PTI

Trivago’s Abhinav Kumar features in his first Paytm ad

BI India Partner

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

PTI

Tamil Nadu's Katpadi is the fastest growing city for digital payments: Paytm report

IANS

Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay

Sanchita Dash

Paytm in talks to raise another USD 1 bn funding: Sources

PTI

Paytm looks to contribute Rs 500 cr to PM CARES Fund

PTI

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