Paytm has applied for a licence to set up a money market mutual fund that invests in short-term funds.
E-payments have surged in India since a shock ban of high-value bank notes in November last year. Providers such as Paytm, backed by Alibaba and SoftBank Group, have rapidly increased their share of the market amid predictions it will jump nearly 10 times to $500 billion by 2020.
The present ‘sale’ is largely driven by the imminent roll-out of GST.
The company plans to hire 3000 agents across the country to its existing workforce to expand its reach to the shopkeepers into tier II and tier III cities,
A senior government official told Moneycontrol that Tesla's proposal to set up a manufacturing base is under consideration.
With an aim to clear its stocks sales ahead of the GST implementation, the company offers various deals and discounts on electronics and large appliances.
Instamojo will deduct 25 percent of a day’s sale post the disbursement of loan, towards EMI, ensuring repayment of the loan.
The Paytm app will now have a ‘Traffic Challan’ tab where traffic rules violators can enter their vehicle number, and after verifying the details, proceed to pay for the challan.
The co-founder of India's second most valued internet company is buying a property in Lutyens' Delhi, which houses the country's most influential individuals.
Paytm also expects to clock over 3X growth in number of train tickets booked through its platform this financial year
The deal, if successful will allow Bank of Baroda to expand its mobile wallet service, it launched last year and also to get access to millions of young customers FreeCharge has on its platform
About 10,000 seats are eligible for the offer. For rest of the ticket inventory, the company is offering seats at heavy discounts, as part of a campaign.
Softbank Group and Saudi Arabia's main sovereign wealth fund have committed to invest over USD 93 billion in technology sectors such as artificial intelligence and robotics
The deal is likely to give an exit to ItzCash's existing investors which include Lightspeed and Matrix Partners India
The first branch will come up Noida. In its first year, Paytm plans to expand to 31 brick-and-mortar branches and add 3,000 customers. By 2020, it plans to add 500 million customers.
Paytm, which runs India's biggest electronic wallet, said it will offer an interest rate of 4 percent per annum on deposits.
Softbank's USD 1.4 billion investment for a 20% stake in Paytm could open a plethora of opportunities for the Noida-headquartered mobile payments and commerce company.
In one of the largest funding round by a single investor, Japan’s Softbank has committed to fund Paytm with USD 1.4 billion, the Noida-based company said in a statement on Thursday.
Vijay Shekhar Sharma-led e-wallet firm Paytm has raised USD 1.4 billion from Softbank Group Corp making it one of the largest funding rounds in the wallets space in India
Existing Paytm customers who do not want to move their Wallet to the payments bank will have to communicate the same before May 23.
The product, launched in partnership with MMTC-PAMP, has received wide appreciation from the people and have bought Digital gold from as many as 4,000 pincodes, PayTM Senior Vice president, Krishna Hegde told reporters here.
Paytm is India's largest digital-payments provider. Its parent company, One97 Communications, was valued at $4.2 billion in 2015, according to reports. However, recent estimates suggest the latest figure could be between $7 billion to $9 billion if the SoftBank India investment is factored.
The approval of Nexus Venture Partners will be crucial for the proposed transaction to proceed, according to sources close to the development. The seven-member board of Jasper Infotech, which operates Snapdeal, includes representation from investors SoftBank, Kalaari Capital and Nexus Venture Partners (NVP), as well as co-founders Kunal Bahl and Rohit Bansal.
Paytm, which will soon offer payments bank services in the country, claims to have already pumped in over Rs 3,200 crore in the last two years for its operations
Sharma called upon India's rich businessmen and corporations to start backing local entrepreneurs so that they don't have to look to foreign firms for investment