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<keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, which is based in Noida and has emerged as India's <a href="http://www.businessinsider.in/Santas-come-visiting-Paytm-Its-wallet-size-expected-to-increase-tenfold-in-2016/articleshow/50351147.cms">largest wallet provider</a>, has tied up with multiple parking-management companies across India, so that it can offer cashless payment solutions to its users in more than 500 parking lots. As a result of this, parking lots will provide <a href="http://www.businessinsider.in/Paytm-joins-hands-with-Flipkart/articleshow/51696229.cms">Paytm </a>users an option to pay through their wallets using QR codes and barcode scanners. 
 
It is another important step in what seems like the company’s vision to make its users’ lives totally independent of hard cash. 
 
"The need of the hour is ease of payments and faster turnaround times, all of which is possible with cashless transactions," said Kiran Vasireddy, Paytm’s VP. They aim to turn 25% of the parking transactions to digital payments in the coming six months. 
 
Interestingly, <a href="http://www.businessinsider.in/Will-Paytm-pave-the-way-for-Alibabas-entry-in-to-India/articleshow/51490871.cms">Alipay</a>, which is Paytm's largest-investor, also offers such digital parking facilities to its users in China, and Paytm thinks that this move has a lot of the potential in the untapped and unorganised parking industry in India. 
 
Also read: <a href="http://www.businessinsider.in/ExclusivePaytm-founder-CEO-Vijay-Shekhar-Sharma-talks-about-his-plans-to-go-global/articleshow/52108221.cms">Exclusive: Paytm founder-CEO Vijay Shekhar Sharma talks about his plans to go global</a> 
 
Other areas where <a href="http://www.businessinsider.in/Paytm-is-expanding-its-warehouse-network-is-willing-to-double-investment-to-Rs-500-crore/articleshow/50957579.cms">Paytm </a>has entered and made its users independent of cash include 'paan' shops, vegetable vendors and big retail outlets such as Aditya Birla Group's food and grocery retail arm More, Indian Oil petrol pumps, food chains such as Cafe Coffee Day and Pizza Hut, and several schools and colleges, other than being able to buy <a href="http://www.businessinsider.in/You-can-buy-a-PVR-movie-ticket-on-Paytm-now/articleshow/51494335.cms">online movie tickets</a>. 
 
<a href="https://paytm.com/blog/wp-content/uploads/2015/02/Paytm-wallet_blog3.jpg">Image source</a>

Go cashless: Paytm ties up with 500 parking lots to let you park cars without cash

New Delhi, Dec 9 () Paytm Payments Bank (PPB) on Monday said it issued 6 lakh FASTags in the month of November.
 The Ministry of Road Transport and Highways had announced that toll payments on highways would be accepted through FASTags only from December 1. This was later extended to December 15.
 In a statement, PPB said it sold 6 lakh tags in the month of November, and claimed that it has equipped over 1.85 million vehicles with FASTags.
 The National Electronic Toll Collection (NETC) programme, the flagship initiative of the Ministry of Road Transport and Highways, has been implemented on a pan-India basis in order to remove bottlenecks and ensure seamless movement of traffic and collection of user fee as per the notified rates, using passive radio frequency identification (RFID) technology. 
 As on December 3, 2019, a total of 82.55 lakh FASTags have been issued. 
 PPB said it has also partnered with automobile manufacturers such as Maruti Suzuki, Hyundai Motor India, Honda Cars India, Kia Motors India Pvt Ltd, MG Motor India and others to offer pre-fitted Paytm FASTags at the time of vehicle purchase itself.
 "While over 250 camps have been set up at toll plazas, another 500 have been arranged in corporate offices, residential societies and parking lots in the top 20 cities, including Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Chandigarh, Pune, Chennai and Jaipur," it added.
 PPB is further boosting the sale of FASTags by deploying 3,500 business correspondents in all major cities and towns, it said. SR RVK

Paytm Payments Bank issued 6 lakh FASTags in Nov

<keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, the Noida-headquartered digital payments solutions company has made some top-level additions to its payments bank arm, with <keyword id="3363917" type="UNKNOWN" weightage="100" keywordseo="Ruchita-Taneja-Aggarwal">Ruchita Taneja Aggarwal</keyword> and <keyword id="3363918" type="UNKNOWN" weightage="100" keywordseo="Priya-Karnik">Priya Karnik</keyword> from Citibank India being hired as head of banking operations and head of product development for banking operations, respectively. 
 
Aggarwal worked as the director of treasury and trade solutions and Singapore head for regional product sales at Citibank, while Karnik was director of treasury and trade solutions, regional implementation. 
 
With these appointments, the payments arm of the <a href="http://www.businessinsider.in/Alibaba-to-enter-in-India-via-Paytm/articleshow/51490871.cms" target="_BLANK￿￿￿￿">Alibaba-backed</a> company has got its leadership team across FMCG, consultancy, banking and e-commerce businesses before its banking services roll-out in August. 
 
Also read: <a href="http://www.businessinsider.in/Alibaba-India-logistics-companies/articleshow/52235513.cms" target="_BLANK￿￿￿￿">Indian logistic companies look forward to partnering with Alibaba for its India entry</a> 
 
It was earlier this year that <a href="http://www.businessinsider.in/Paytm-payments-bank-to-be-headed-by-former-RBI-and-PwC-executive-Shinjini-Kumar/articleshow/51056601.cms" target="_BLANK￿￿￿￿">Shinjini Kumar</a> from RBI and PwC was hired for Paytm’s payments bank, which was followed by <a href="http://www.businessinsider.in/Amazon-India-Fashion-head-quits/articleshow/49014573.cms" target="_BLANK￿￿￿￿">Vikas Purohit</a> from Amazon, Kshitij Sanghi from McKinsey, <a href="http://www.businessinsider.in/Know-everything-about-Paytms-Project-Pokhran/articleshow/50528221.cms" target="_BLANK￿￿￿￿">Varun Khullar</a> from ITC and Vipin Surelia from the RBI, who were all taken in as VPs of various verticals. 
 
Also read: <a href="http://www.businessinsider.in/Paytm-in-parking-lots/articleshow/52142106.cms" target="_BLANK￿￿￿￿">Go cashless: Paytm ties up with 500 parking lots to let you park cars without cash</a> 
 
"It is no secret Paytm is expanding and diversifying at an exponential rate. Joining the organisation gives me an unparalleled opportunity to work with some of the most well-known industry thought leaders who are trying to build something new and unique," Karnik was quoted saying. 
 
Amit Sinha, vice president at Paytm said, "We are committed to keep enhancing our services and product portfolio. We are confident that with (Aggarwal and Karnik) on board, we will be able to drive greater growth and success."

Former Citibank executives to lead banking operations at Paytm’s payments bank

The Noida-headquartered e-commerce firm <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword> has announced that it has tied up with more than 1,000 brands including Puma, Samsung, Samsonite, Casio and Lakme so that they can open their online stores on its platform. 
 
"True power of online platforms is in connecting sellers and brands directly with the end customers. The platform that we have created for brands gives them complete control of their online presence," Amit Bagaria, vice-president at Paytm, said on Sunday. 
 
Also read: <a href="http://www.businessinsider.in/Paytm-in-parking-lots/articleshow/52142106.cms">Go cashless: Paytm ties up with 500 parking lots to let you park cars without cash</a> 
 
Last week, we had reported how <a href="http://www.businessinsider.in/Flipkart-brand-hubs/articleshow/52121113.cms">Flipkart had entered into tie-ups</a> with several brands including HP, Wildcraft, Peter England, Bosch and @Home, which would allow them to create brand hubs on its digital marketplace. 
 
These online brand stores from Paytm are independent online retail stores for brands to control its sellers regarding inventory, pricing and promotions, to run promotional campaigns and tag their physical stores, and to enable them to generate sales for their offline channels. 
 
Also read: <a href="http://www.businessinsider.in/Heres-what-Paytms-Vijay-Shekhar-Sharma-has-to-say-about-digital-race-in-India/articleshow/51891296.cms">Here’s what Paytm’s Vijay Shekhar Sharma has to say about digital race in India</a> 
 
"From a customer perspective, the shopping experience on these stores is far superior, since the brands directly engage with customers, just like in offline stores," Bagaria said. 
 
<a href="https://inc42.com/wp-content/uploads/2014/01/NEW_mobile_shopping1.jpg">Image source</a>

After Flipkart, Paytm has asked brands to open online stores on its digital platform

<ul><li>March 2021 saw the highest ever <keyword id="35471" type="ORGANIZATION" weightage="20" keywordseo="SIP">SIP</keyword> net inflows of ₹91.8 billion.</li><li>According to analysts, this because anyone who was looking to make easy money off of India’s economic recovery has already bagged their profits — or run out of patience.</li><li>People still want to invest in the market and capitalise on India’s economic growth but, they want to do it without having to worry about the day-to-day nuances.</li></ul>Whatever easy money was to be made in the market has been made. According to analysts, the next best bet for the common man, while also being safe, is <keyword id="176782" type="ORGANIZATION" weightage="20" keywordseo="Systematic-investment-plans">systematic investment plans</keyword> (SIPs). <ul> </ul>The net inflow of SIPs was at its highest ever in March 2021 — worth ₹91.8 billion. The month was also the first time in eight months that equity funds saw inflows instead of outflows. <ul> <div type="image" title="Copy of states with highest covid 19 cases" msid="82032742" hostid="261" caption="&amp;lt;p&amp;gt;The net inflow of funds towards systematic investment plans (SIPs) was at its highest ever in March 2021&amp;lt;/p&amp;gt;"></div></ul> “A lot of demat accounts were opened during the pandemic. People went for investing in direct equities. Now that the easy money has been made, people will go back to normalisation of allocation of money,” Tarun Birani, the founder and director of TBNG Capital Advisors, told Business Insider India. Last week, <a href="https://www.businessinsider.in/business/startups/news/online-investment-platform-groww-is-indias-latest-unicorn-as-it-raises-83-million/articleshow/81952184.cms">Groww</a> became the second wealth management unicorn after Zerodha. During the course of the pandemic, Paytm Money introduced stock trading on its platform. Startups were offering low brokerage fees and an easy way to invest as they challenged legacy platforms like ICICI Direct or Kotak Securities. “A lot of investors thought it would now become frictionless to buy stocks and creating a diversified portfolio is no longer difficult. But, what has happened in the last couple of months, that market is more turbulent on a day-to-day basis… Many don’t understand the nuances of the market if the market is generally going up,” said Dhirendra Kumar, the chief executive of Value Research. According to analysts, the primary trigger for the uptake is a combination of three factors — liquidity, lower risk free rates and the pandemic shedding some of its uncertainty. <cmsannotation type="cmsannotation" annotationid="Take out a loan and make up for interest payments by investing in the market" comment="subhead" text="Take out a loan and make up for interest payments by investing in the market">Take out a loan and make up for interest payments by investing in the market</cmsannotation> The Reserve Bank of India (RBI) and the Indian government have been pumping money into the economy. They want to make sure that there is enough liquidity in the market to drive up demand so that the Indian economy can get back on its feet. As April kicked off, RBI governor <a href="https://www.businessinsider.in/finance/news/rbi-forecast-shows-that-narendra-modi-administration-is-facing-its-worst-inflation-period-so-far/articleshow/81946820.cms">Shaktikanta Das</a> told reporters that the apex banking institution has no plans of tightening liquidity in the market and will continue its accommodative stance for the next three months. “There is ample liquidity. Because there is ample liquidity, the risk free rates will come off meaningfully. When that happens, generally people tend to take a risk,” explained Birani. This means that if people have more money in hand — while inflation is in <a href="https://www.businessinsider.in/finance/news/rbi-forecast-shows-that-narendra-modi-administration-is-facing-its-worst-inflation-period-so-far/articleshow/81946820.cms">excess of 6%</a> — they have an increased ability to invest. It also means that if they’re taking out a loan and the market is doing well, they think they can leverage their investments in the market to make up the difference. <cmsannotation type="cmsannotation" annotationid="Risk free rates of interest just aren’t going to cut it anymore" comment="subhead" text="Risk free rates of interest just aren’t going to cut it anymore">Risk free rates of interest just aren’t going to cut it anymore</cmsannotation> As a salaried individual, the safest ways to invest your money is by putting it in a savings account, locking it up in a fixed deposit or finding a government instrument to invest in. Many parked their funds in the Employee Provident Fund (EPF). But in the most recent budget, the government capped the <a href="https://www.businessinsider.in/finance/news/checkout-what-all-will-change-from-1st-april-for-you-as-the-new-financial-year-kicks-in/slidelist/81776624.cms">non-taxable amount at ₹2,50,000</a>. Moreover, the return on fixed deposits doesn’t make up for inflation and savings account rates even less so. This leaves the average investor with very few options. And, since investing directly into funds when the market is getting kicked around by daily speculation, SIPs is a safer option. “Everybody was waiting for the big correction, which hasn’t happened. They’re losing patience. It’s better to have a plan rather than depend on the market,” said Kumar. <cmsannotation type="cmsannotation" annotationid="Is the SIP uptake here to stay?" comment="subhead" text="Is the SIP uptake here to stay?">Is the SIP uptake here to stay?</cmsannotation> As a salaried individual, one only thinks about assessment management or financial planning where the inflow of cash is certain. “If you feel confident about where that cash flow is coming from, you start allocating — whether it's in equity, gold or wherever they want to,” said Birani. And, with the pandemic shedding its uncertainty, markets are on an upward trajectory. “With buoyant stock markets, we can only hope that the positive trend in equity flows is not a one-month or a year ending aberration but a return of investors to mutual funds and long-term investing,” said Gopal Kavalireddi, the head of research at FYERS — a tech-focused stockbroking and mutual funds investment platform. Ratings agencies expect India to reclaim its growth as the fastest growing country in the financial year 2022, with GDP growth clocking in anywhere from 10.5% to over 13%. However, the rapid increase in the number of COVID cases across the country and the subsequent lockdowns could throw India’s economic recovery off track. “If there is any blip in the momentum, it will be because people are biding their time to see how the new lockdown situation prevails. It may put people on the tenderhooks again,” said Birani.

Here’s why people are suddenly going for SIPs — and why the trend isn’t going to end anytime soon

<a href="http://www.businessinsider.in/searchresult.cms?query=Startups">Startups</a> are the new cool kids in the block. The first boys/girls of classes are speaking of now startups if they don’t make it to <a href="http://www.businessinsider.in/searchresult.cms?query=IAS">IAS</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Consultancy">Consultancy</a> or <a href="http://www.businessinsider.in/searchresult.cms?query=Investment+banking">Investment banking</a>, and that’s cool! India needs more innovative entrepreneurs. 
 
However, if you’re a hipster with a suit-boot you often come across corporate gossip. You know, the likes of, ‘Dude, <a href="http://www.businessinsider.in/searchresult.cms?query=Startups">startups</a> are flopping’, ‘Macha, get a VC first’ or ‘Bro, <a href="http://www.businessinsider.in/searchresult.cms?query=investors">investors</a> are angry’. You can’t verify, and you probably won’t. You accept, sit on it, and let your idea die. 
 
BI India sat down (digitally of course) with a couple of really smart consultants and industry experts to ask the dumbest of questions on startups. 
 
We did your job, thank us later! Here is a sanitized version of the conversation: 
 
The startup bubble is bursting! 
Startups are not bubble wraps. The valuations were reaching a bubble stage. Companies with no real business models will die anyway. 
 
Who should I kill for this fiasco? 
Yourself. The media put them on a pedestal without questioning their potential. 
 
Startups are also often pressurized by VCs and Private Equity people to scale too fast. In that race to chase growth, a lot is sacrificed. 
 
*Gulp* But what can we do now? 
Don’t invite them to Media forums and heap awards on random entrepreneurs for God's sake. See whether they have a tangible business to start with. 
 
…and the valuations? 
If you have to believe in their individual valuations, you have to believe all will win. The total market cap is more than the sum of the four individual valuations. 
 
Big investors are happy, right? 
Not the point. Investors were earlier happy with the simple premise of GMV or potential GMV. They are now exerting pressure to deliver revenue first, profitability thereafter. 
 
So they’ll (Snapdeal, Flipkart, Paytm, etc) not get more money? 
They will. It’s just that their growth and valuation will go down. India needs e-commerce and internet technology startups. 
 
Less growth? We’ll die! 
The valuation bubble is a global one. Imagine the Dotcom Burst. The money is there, those who deserve shall get it. 
 
…but these people are not making money. That’s why they’re shifting from their pure marketplace models. 
The ‘marketplace model’ term exists only in India, thanks to government. If the company takes care of customer acquisition, shipping, payment and service, it’s a retail business. 
 
Christ, you have goods and consignments and then call it marketplace! 
 
Why are they then trying to push the idea of being ‘marketplaces’? 
The government’s FDI Policy, my friend. None of the retailers are FDI complaint in spirit, but in the legality of the word. 
 
Why do they have to sell Cement, Flats and Cars? 
That’s the beauty of e-commerce. You can expand product categories. 
 
Amazon created a cloud service business for itself after it had a solid IT infrastructure. That’s the most profitable part of their business. 
 
You jealous of the money? 
 
Ahem, ahem! These people failed at Smartphones and Clothes, and now will sell anything! 
Not true. 
 
Wal-Mart takes parking fees, promotional advertising fees. They’ll even service the car you drive there. Does that mean they have failed at selling grocery? 
 
When will their IPO come? (Gotcha!) 
Easier said than done. IPO is not only about money, but significant information that needs to be released with the consent of investors. That’s where they’ve been very creative in structuring their companies. 
 
The balance sheet will only show one income, that’s the net commission or margin that is procured out of selling. 
 
Most of them will not be open to the scrutiny an IPO brings. 
 
You mean they’re ubiquitous? Hah, #EvilOnes! 
They’re not #Cheats. They have investors and auditors onboard. The caliber of these people has to be respected. 
 
Won’t the IPO pressure bear down upon them in the long terms? 
There would be no consumer backlash. Indians consumers are very supportive of new technology. 
 
So Startups won’t shift base to Singapore/Malaysia? 
Everybody can’t afford to do that. If some leave, others would fill their space. 
 
Do you see a Startup IPO in the next decade? 
That’s too far. Let’s say potentially impossible in next 12 months. 
 
Show me some Startup balance sheets. 
Their business is none of your business. 
 
*Silence* 
 
That's all Folks!

You Searched For "paytm parking lots" and got 6 results

Go cashless: Paytm ties up with 500 parking lots to let you park cars without cash

BI India Bureau

Paytm Payments Bank issued 6 lakh FASTags in Nov

PTI

Former Citibank executives to lead banking operations at Paytm’s payments bank

BI India Bureau

After Flipkart, Paytm has asked brands to open online stores on its digital platform

BI India Bureau

Here’s why people are suddenly going for SIPs — and why the trend isn’t going to end anytime soon

Prabhjote Gill

The Startup Bubble Burst in India #CorporateGossip

Saikat Pyne

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