Paytm has appointed former head of Alibaba Group Holding’s wholesale business, Bhushan Patil, as its new president, as per a latest report from PTI. He will focus on building company’s cross-border commerce.
Continue reading “Paytm ropes in former Alibaba executive Bhushan Patil as president”
Paytm has signed a strategic partnership with PVR to sell latter’s ticket on its mobile payment platform. In its first year, PVR targets to sell tickets worth Rs .2.5-3 billion in terms of revenue.
Continue reading “Paytm and PVR team up to sell online movie tickets”
Paytm has tied up with mobile and appliances retailers in a bid to allow them to list their stores on its e-commerce marketplace. The company has already joined hands with 5,500 stores including 4,000 brand exclusive mobile stores and 1,500 large appliance retailers as a part of its omni-channel strategy.
Paytm has acquired consumer behaviour prediction and recommendation app Shifu for $8 million, as per a latest report from the Economic Times. The move comes from Paytm in a bid to focus on improving its artificial intelligence technology.
Continue reading “Paytm acquires personal assistant app Shifu for $8 million”
In a bid to bolster focus on online to offline commerce, Paytm has acquired hyper-local services marketplace Near.in. The deal is valued between $1.5 million and $2 million, according to a report from the Economic Times.
Continue reading “Paytm buys hyperlocal service startup Near.in for $2M”
Paytm is expanding its platform by adding hotel bookings. Users can already book bus tickets and soon they will be able to book hotels via the Paytm app
Paytm has introduced QR (Quick Response) code based payment option for its Wallet app. This feature can be used by any shopkeeper or service provider to start accepting digital payments.
Customers can pay via their Paytm Wallet app using their wallet balance or their saved payment instruments. In the case of the pre-printed QR codes, the only information it will contain is the Paytm account details of the merchants. After scanning the QR code, the buyer has to merely enter the payment amount and approve the payment. Basic service providers such as kirana stores, auto-rickshaws, fast food joints and others can carry a laminated QR code of their account and receive payment even without a data connection. They will receive a transaction confirmation through SMS even on a basic phone. Merchants will also be able to generate dynamic QR codes which will contain the amount to be paid as well, in addition to merchant’s Paytm details.
The existing 10,000 merchants, who enable top-up of Paytm wallets with cash, will also be encouraged to start accepting QR code-based payments as many of them are kirana stores. We see high applicability of this solution with local retailers & service providers like handyman, autos, small restaurants & kirana stores. The benefits for merchants are freedom from handling cash, instant payments & much lower operational costs. Customers can now pay exact amount & don’t have to carry cash around. Shortly, we will also launch a payment merchant application that will give retailers a wider range of functionality”.
said Nitin Misra, Vice President – Payment Products.
The Paytm app has payments enabled for the popular food joints like Pizza Hut, KFC, Costa Coffee among others. A one-time password is generated after the customer’s mobile number is received. The implementation of QR Code aims for Paytm to play host to many other merchants that will accept payments through QR codes.
Paytm has surpassed 100 million mobile wallet users in India who are carrying out 75 million transactions every month. The popular mobile commerce marketplace and digital wallet company claims that its wallet is now accepted by over 80,000 merchants across the country.
Paytm, one of the popular mobile commerce firms has launched Friendship Day offer that offers full talk time as cash back on any recharge between Rs 100 and Rs 250. This offer starts today and lasts for a week. You need to use the promo code FULLVALUE during recharge to claim this offer. This is available across all circles. Continue reading “Paytm launches full talk time recharge offer for Friendship Day”
Snapdeal is reportedly looking to enter digital payments services to tap on the huge potential in this segment as well as to take on Paytm’s increasing popularity. Continue reading “Snapdeal with FreeCharge may set up Paytm-like electronic payment platform: Report”
Paytm is gearing up to raise $375 million from existing investor, Alibaba Group, as per a report from Live Mint. The online payment processor, owned by One97 Communications Ltd will be valued at $1.83 billion if the deal is through.
Continue reading “Paytm looking forward to raise $375 million in funds from Alibaba”
Alibaba is investing $575 million in Paytm, according to a latest report from The Economic Times. The Chinese e-commerce giant is investing the sum in Indian e-commerce company and digital payments company, One97 Communication.
Continue reading “Paytm to receive $575 million funding from Alibaba”
Homeshop 18 has teamed up with Paytm to integrate its wallet for online shopping. The integration will allow customers with an alternate payment option.
Continue reading “Homeshop 18 integrates Paytm wallet for online shopping”
