With the rise in popularity of digital payments, QR codes have become an integral part of our lives, especially after the push for digital India at the beginning of the pandemic.
It is therefore of little wonder that several digital services require QR codes to carry out transactions. WhatsApp being the latest to join the bandwagon. The instant messaging app WhatsApp, is apparently testing a new feature that will allow users to share their profiles via URL on social networking sites.
Going by how frequently users have to scan QR codes for services, comedian Samay Raina tweeted, "If I ever get a tattoo, it will be of my UPI QR code."If I ever get a tattoo, it will be of my UPI QR code
— Samay Raina (@ReheSamay) April 17, 2022
The tweet got a lot of cheeky responses from followers. Programmer Kavitha (@naa_layakk) asked, "So how should we scan you, through eyes or phones?" Another Twitter user even offered to put a QR code on a t-shirt for Raina.
It was, however, Paytm's response that stole the show.
Say no more... https://t.co/rCtDDCT1an pic.twitter.com/m0wzLZyPBN
— Paytm (@Paytm) April 20, 2022
Meanwhile, share prices of the fintech major -- which had fallen nearly 70 per cent from its IPO price of Rs 2,150 led by regulatory headwinds and concerns about profitability in the payments verticals -- jumped over 4 per cent on Tuesday after global financial major Citi initiated its coverage with a 'Buy' rating and a target price of Rs 910.
According to Citigroup Research, at the current market price, Paytm's valuations look attractive.
"We think Paytm has several potential levers to drive scale and improve profitability substantially, leveraging its high-frequency user base of 71mn MTUs (up 41 percent YoY in FY22) and 25mn+ merchants," Citigroup said in a recent note to its investors.
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