Search Result for : Paytm

The Dollar Business Bureau  The beleaguered cab aggregator, Uber, wants to concentrate on India, Brazil, and Mexico, to drive growth for the company and to ensure that it sustains the competition from Ola.  Speaking to the media, Uber SVP (Global Business) David Richter told reporters, "There are three countries that we are betting on -- India, Mexico, and Brazil. We have seen phenomenal growth in India, in July this year over last, we have seen 115 per cent growth." Richter said the company is focussing on launching solutions that enhance the customer experience in India and has taken a number of steps in that direction. The latest being the introduction of Unified Payments Interface (UPI) UPI-based payment on its platform that will ...

The Dollar Business Bureau Paytm Mall, the unit of e-commerce player Paytm said on Tuesday that it is planning to invest $35 million (around Rs.225 crore) to expand its logistics business. The company also plans to cut short the delivery time and is investing in technology and infrastructure for enhancing its logistics support by meeting the demand of customers intending to service deliveries on the same-day and the next-day. Paytm Mall that partners with offline traders for selling products, will start providing one-day and two-day deliveries for appliances and electronics products across 25 cities all over India in the first phase. The delivery service will soon be increased to over 100 cities and additional product categories. Currently, the company is working with three courier firms - Delhivery, Xpressbees and Bluedart, delivering packages to over 17,000 ...

The Dollar Business Bureau Softbank, the largest investor in Snapdeal is exploring options for a merger with Paytm. Currently, the Alibaba group has a 40% stake in Paytm, with investments close to $1 billion, and Softbank was one of the early investors in Alibaba. Market-pundits averred that the deal could go in for an equity exchange in the value of $1 bn, which meant that an all-stock merger of Snapdeal with Paytm was more probable. The Son led Softbank had earlier been mulling a possibility of a merger with Flipkart too. Conversations with the Bengaluru-headquartered Flipkart for strategic mergers have been in news for about three months now. There was also conversation with Tiger Global, the large investor in Flipkart, and trade ...

The Dollar Business Bureau E-commerce player Amazon India has got a licence for operating mobile wallet or pre-paid payment instrument (PPI) in India as it is trying to compete against its rivals in e-commerce space, Paytm and Snapdeal, more aggressively. The approval for mobile wallet will help the online marketplace to leverage the booming market for digital payments in the country. “We are pleased to receive our PPI license from the RBI (Reserve Bank of India). Our focus is providing customers a convenient and trusted cashless payments experience,” Amazon India said in a statement. In December last year, the US-based e-commerce major had launched the Pay Balance service for cashing in on the boom in digital payments space. Like the services of other mobile ...

The Dollar Business Bureau  Paytm chief Vijay Shekhar Sharma has recently shared his views on how his mobile app popularly known as Paytm can help India eradicate corruption.  He said that digitisation would eventually end corruption because digital payments put an end to unaccounted money, making payment of tax on every transaction mandatory. Elucidating the scale of the problem, he also gave instances of corruption that are dime a dozen all over the country. Not even a simple business licence is issued in India without bribery making an appearance. The malice has become a norm in running of businesses, starting right at the bottom, at the grass route level.  To be able to meet a bureaucrat, it is the peon whose pockets need to be filled ...

The Dollar Business Bureau All eyes have been on Paytm's fortunes since November 8, 2016, the day 80% of India's hard cash lost its value. Having cashed in on this well-timed opportunity, Paytm comes under spotlight yet again for its ambitious expansion plans.After revolutionising the e-commerce industry by making bill payments a one-click job, mobile wallet provider Paytm has ventured into payment banks. The move to enter the uncluttered space of payments banking should work in favour of Paytm as the mobile wallet industry is already clogged with competition from MobiKwik, PayU and others.Following RBI's approval, Vijay Shekhar Sharma, founder of Paytm, proudly announced that Paytm is all set to launch its payments bank. Operations are likely to commence as ...

The Dollar Business Bureau Demonetisation has created a crisis in the country owing to the severe lack of cash in the hands of consumers. However, it has also given rise to new opportunities or new ways to survive with minimal cash. Rural areas in India are opting for the kaam chalao barter system whereas the urban smartphone-trendy populace is turning to plastic money and ‘e-wallets’. The rising use of e-wallets has come as a windfall for the Chinese billionaire Jack Ma, the founder of Alibaba Group and the 40% shareholder in PayTm. Paytm is one of the most popular e-wallets in India and has seen a burgeoning rise in recent times with over 6 lakh new users daily coming under its fold.  The ...

The Dollar Business Bureau Paytm, Noida-based digital payments platform, is laying out a budget of Rs 350-500 cr to launch its payments bank. An executive revealed that the company is planning to launch the Payments Bank before Diwali in October. Shinjini Kumar, Paytm Payments Bank CEO, stated that the implementation of technology is time consuming, but the services will be rolled out before Diwali this year. Earlier, Vijay Shekhar Sharma, Paytm CEO, announced the plans to roll out the Bank in August. However, Kumar stated that the company is engaged in resolving new issues before the launch that was deferring the planned August launch. Kumar further stated that the members of the company involved in the new services are learning new things every day and ...