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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

Recently, Paytm, Jabong and Hotstar have partnered with mobile companies like Samsung, Microsoft, Panasonic, Micromax, Karbonn and the like to pre-embed their mobile apps on outgoing smartphones. 
 
Shankar Nath, Senior Vice President at Paytm answers your questions about such pre-bundled apps: 
 
Why would my smartphone now come pre-installed with such apps? 
 
Manufacturers are doing this to add value to their products. The move will only help facilitate India’s massive movement to apps in terms of people transacting online. 
 
When can we expect Paytm enabled smartphones? 
 
Few models from Micromax, Intex, Lava and Karbonn are already in the market. Lumia models would have it sometime later. It’s an ongoing process. 
 
Do you feel jittery that this might put off a lot of non-Paytm budget smartphone users? 
 
As technology has advanced, processing power has kept going up, and smartphone costs have kept going down. Most of these apps are very light and most people will find it useful. Otherwise, one can always uninstall. 
 
What kind of sales hike are you expecting? 
 
The app will certainly allow us to reach a wider user base. 3/4th or nearly 80% out of the total million transactions a day we process is through a mobile. 
 
Any plans to go mobile only, like Myntra? 
 
None as of now. We get a significant amount of business through our app. So it’s a crucial part of our overall distribution and marketing efforts. However, we’d like to have all channels available.

Paytm answers your questions on
pre-bundled mobile apps

Have you ever missed your bus but got your booking amount back? You might have thought that this never happens in this country. But mobile wallet and ecommerce company Paytm is here to prove you wrong. So the next time you miss your bus, you will most definitely get your money back. The Delhi based startup, which has forayed into various kinds of businesses is now planning insurance covers for bus passengers against a range of risks, such as accidents, missed travel, cancellation of ticket and loss of baggage.

	“We are in talks with (insurance) companies to provide insurance cover for bus passengers," said Shankar Nath, Paytm's senior vice-president. "At the same time, we are talking to various private bus hiring services like AP travels." <o:p></o:p>

	Just like domestic air travel comes insured, the passengers in this case would be a given an option to choose the insurance, if they desire. The bus fare will be bundled with the premium. <o:p></o:p>

	Around 30,000 tickets are booked daily on Paytm's platform. The average fare is 500.<o:p></o:p>

	Travel insurance business in India is worth Rs 400-500 crore and the cover is mostly taken by those who travel abroad. While the government is talking to insurance companies to introduce personal accident and baggage loss cover to railway passengers, the bus travel segment is yet to open up to the idea.<o:p></o:p>

	"There is not enough education and the risk perception is very low," Sanjay Datta, head of motor insurance underwriting at ICICI Lombard General Insurance told the ET. "Domestic travel insurance is a negligible business."<o:p></o:p>

	For domestic air travel, the premium is around 150 and the policy is valid for 30 days or till the date of return journey for passengers between the age group of 1 and 70.<o:p></o:p>

	When travelling overseas, people usually see travel insurance as a short-term medi-claim, to cover treatment towards any injury or illness suffered while they are abroad.<o:p></o:p>

Paytm is introducing insurance for bus travel

Soon you will not have to download Paytm, Hotstar and Jabong as mobile applications of these companies will come pre-embedded in smartphones. 
 In a bid to tap larger customer base of handset makers, Paytm, Jabong and Hotstar have inked deals with handset manufacturers like <keyword id="71696" type="COMPANY" weightage="80" keywordseo="Micromax">Micromax</keyword>, Intex, Spice, Microsoft and Karbonn and will come embedded in these. 
 
"Up to 75-80% of our sales come through either our smartphone apps or mobile phones. So, mobile strategy is a vital element of marketing for us, especially android platform," Shankar Nath, Senior Vice-President of Paytm told Economic Times. 
 Paytm has a partnership with <keyword id="10591" type="CITY" weightage="80" keywordseo="Samsung">Samsung</keyword>, Microsoft, Micromax, Lava and Spice for pre-embedding its app on the highest selling models of these handset manufacturers. 
 
The financial daily reported that Paytm app had seen close to 29 million downloads. 
 
Likewise, Jabong has inked deal with Microsoft to pre-bundle its app in some models of the Lumia series. The partnership will help the e-Commerce company reach out to Lumia loyals. 
 
"When an app is already installed on a smartphone, the probability of the consumer using it increases and hence, such tie-ups make sense for us," Praveen Sinha, co-founder of Jabong, told ET. 
 
As per a study by Zinnov, Jabong's transactions through smartphones have increased to up to 50% from 5% about two years ago. As smartphone sales grow about 51% every three months, the mobile commerce market is likely to grow 55% to $19 billion by 2019, from $2 billion now. 
 
"Media consumption pattern of consumers have changed completely. It will continue to change rapidly in the coming future. We are moving towards the era of wireless communications. So this is the new way towards which marketing and advertising is moving," Sandeep Goyal, chairman of Mogae Media, told ET. 
 
Goyal said that the brands were looking towards digital marketing strategies more seriously. 
 
Even Hotstar, the mobile-based application of Star network, has a tie-up with Micromax, Panasonic, Karbonn, Lava and Spice to pre-embed its app on some of their leading models. 
 
The mobile app offers over 35,000 hours of content in seven languages, ranging from movies and television shows to live sports.

Now Paytm, Jabong to come embedded in popular smartphones

The value of the title sponsorship could fall by 30% if <keyword id="54572" type="CITY" weightage="100" keywordseo="PepsiCo">PepsiCo</keyword> terminates its contract ahead of schedule as the <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> title sponsor raised concerns over the controversies and ethical issues that clad the name of the tournament now, experts say. A joint statement issued by the Board of Control for Cricket in India (<keyword id="6354756" type="CITY" weightage="100" keywordseo="BCCI">BCCI</keyword>) and PepsiCo said the two were in discussions to work out a solution. 

	"Both parties will share it when ready," it said. IPL has been in the centre of a major spot-fixing controversy and two franchisees have been suspended from the tournament after a Supreme Court-appointed panel found their owners to be guilty of malpractices. 
 

	"We are very clear that we do not want to be associated with a controversyridden sport. However, as of now there is no decision to terminate the contract with IPL two years ahead of term. Discussions with BCCI are still on," a senior official at PepsiCo told ET. The company had paid Pepsi Rs 396.80 crore to bag the title sponsorship in 2013 for a fiveyear period which ends in 2017. 
 The official said PepsiCo was satisfied with the mileage it had derived from its association with the Twenty-20 tournament but Global Chairman <keyword id="6421975" type="PERSON" weightage="100" keywordseo="Indra-Nooyi">Indra Nooyi</keyword> has made it clear that the company will only associate with ethical and clean sporting properties. PepsiCo had earlier terminated its contract with ace golfer Tiger Woods following an infamous sex scandal. 

	The cola maker can scrap its sponsorship if circumstances sullied the sporting event's reputation or the brand image of the sponsor because of its IPL association. However, this needs to be proved by the sponsor. Otherwise, the cricket board has the option of dragging the company to court. 
 

	In its statement, BCCI said it has assured PepsiCo that steps would be taken to address the concerns and it will work towards necessary solutions in the interests of the league as well as the company. Media planners and experts say that if a solution is not found and PepsiCo does indeed exit ahead of its term, it could push down pricing of IPL title sponsorship by as much as 30%. 
 

	"Prices of the IPL title sponsorship will go down by 25-30% (that) is my estimate. That's because of two reasons. The new sponsor will have to wipe out the very strong association PepsiCo had with IPL for three years. Besides, the new title sponsor will have only two years to leverage IPL," said Sam Balsara, chairman at media buying group Madison. 
 Ecommerce companies such as Paytm and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> could look at picking up the title sponsorship if Pepsi ends its deal. Shankar Nath, senior vice-president at Paytm, which is already the title sponsor for all international cricket matches to be played in India till 2019, said the company would evaluate the opportunity once there was more clarity after BCCI's meeting on October 18. "IPL is a good, stable property," he said. A top Snapdeal official, who did not wish to be named, said the company may consider the sponsorship option as IPL was still an interesting asset. 

	Ashish Bhasin, chairman &amp; CEO, South Asia, at Dentsu Aegis Network, said it won't be difficult to find sponsors. "It's more about the pricing. Going forward pricing of title sponsorship and also of other sponsorship and TV spots will depend on how the controversy around IPL is managed. The impact will get magnified if the controversy doesn't end quickly," he said. But Shailendra Singh, joint managing director at entertainment and sports marketing firm Percept, said no one in BCCI had made any effort to rebuild the IPL brand and no company would want to risk its image by getting involved with the tournament. 
 Companies willing to take an exposure to IPL could be the new ecommerce players looking for a quick hit to establish themselves, and the fact that it would possibly be for a shorter duration of only two years would help. IPL was hit by the spot-fixing and betting scandal in 2013, the first year of Pepsi's association with the tournament. At that time, Delhi Police had arrested three players — <keyword id="13418" type="PERSON" weightage="100" keywordseo="S-Sreesanth">S Sreesanth</keyword>, Ashok Chandila and <keyword id="219674" type="PERSON" weightage="100" keywordseo="Ankeet-Chavan">Ankeet Chavan</keyword> — on charges of alleged spot fixing. Later, Gurunath Meiyappan, the son-in-law of then BCCI president N Srinivasan, was also arrested along with Bollywood actor Vindu Dara Singh for their alleged involvement in betting. 
	 
	(Image credits: Indiatimes)

Why IPL this year will be a huge failure?

Did you know that India represents a $7 billion e-commerce market? A Gartner report shows that it is growing at more than 40% every year. At a time when the country is en-route to becoming the world's fastest growing e-commerce market, the sector will be looking keenly at the upcoming budget to provide a boost. 
 
Here are the five expectations they have from Budget 2016: 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal">Kunal Bahl, Co-founder and CEO, Snapdeal</a> 
 
"India presents a huge opportunity as it continues to build physical and digital infrastructure for its large population, which in turn will boost economic activity and create massive employment. Given the quantum of the task, large capital inflows and suitable tax breaks can help accelerate the process. We hope that Budget 2016 will continue the task of creating a favourable, predictable and investment friendly climate for global funds seeking to participate in India’s growth story. We also look forward to announcement of policies geared towards achieving a "less cash" economy, making the economy more efficient and transparent.” 
 “During this Budget session hopefully, political consensus will also be reached on the GST Bill and it will get passed. The movement forward in indirect taxes will help align taxation with contemporary business models and will resolve varying interpretations of VAT / CST and service tax, which complicate the operating environment for <keyword id="1105147" type="UNKNOWN" weightage="20" keywordseo="E-commerce-companies">e-commerce companies</keyword>, including for inter-state movement of goods. On a broader note, uniformity in taxation laws across the country will significantly ease tax compliance for businesses and benefit government by bringing in easy tax administration and greater transparency." 
 
Spokesperson - Mr.Shankar Nath, Sr. Vice President - <a href="http://www.businessinsider.in/Paytm-Founder-Vijay-Shekhar-Sharmas-incredible-life-story/articleshow/50497089.cms">Paytm</a> 
 
"I hope that the budget continues on the path of fiscal consolidation. India is standing out as a beacon of growth and stability in an otherwise troubled global outlook. We expect the Budget to invest significantly in strengthening the digital infrastructure of the country. It is crucial that we develop a high bandwidth. We would also like to see tax breaks on budget smart phones which support vernacular languages. Tier 2 and 3 cities and rural India thrive on smartphones, and have contributed significantly to productivity. The more the smartphone penetration, the higher will be the levels of entrepreneurship that we will see. We do hope that the KYC requirements will be simplified, and eKYC will be the way forward in the future. We have moved up from a ranking of 134 to 130 among countries in ease of doing business. I hope the Govt will overall introduce measures that take us among the top 100 in the medium term. Starting a business, getting electricity, paying taxes, enforcing contracts, access to credit- we hope that some of these elements will be looked at during the budget." 
 
<a href="http://www.businessinsider.in/Exclusive-FreeCharge-Co-founder-Kunal-Shah-on-the-Biggest-Takeover-in-Indian-e-Commerce-History/articleshow/50901391.cms">Kunal Shah, CEO, Freecharge</a> 
 “The ‘Start-Up India, Stand-Up India’ initiative by PM Modi is one of the initiatives that was announced to encourage and boost the start-up culture in India. We are witnessing a behavioural change towards start-ups in the country and hope the <keyword id="3206186" type="UNKNOWN" weightage="20" keywordseo="Union-Budget-2016">Union Budget 2016</keyword> will be in sync with PM’s initiative for a Digital India. Introduction of policies that encourage digitization and non-cash transactions can help the economy tackle the ever growing problem of hard cash transactions. Removal of convenience fee on booking tickets, utility payments, and removal of payment gateway costs levied on online bill transactions, tax rebates and incentives for merchants that facilitate digital transactions can elevate the online transaction experience and accelerate the adoption to truly become a cashless economy.” 
 
(Image credits: Economic Times)

You Searched For "shankar nath paytm" and got 6 results

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