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Companies

Paytm Money sees half a million users sign up to buy mutual funds

“Mumbai: More than half a million users have signed up to buy mutual funds (MFs) on Paytm Money, which is nearing launch, a top company official said. The digital platform from Paytm Money Ltd, a subsidiary of One97 Communications Ltd, goes live by the end of this month. One97 also owns Paytm mobile wallet, which claims to […]
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Companies

Paytm bets on local expertise to fend off rivals

“Paytm, which started in 2010, became a household name in the country after a ban on high-value currency notes in late 2016 led to a cash crunch and spurred the use of digital payments. “The fight is no more about one company, it is about ecosystem players,” Vijay Shekhar Sharma, founder of Paytm’s parent One97 Communications, […]
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Companies

Paytm to Invest ₹250 Crore to Expand Paytm QR

“Digital payments major Paytm Wednesday said it will invest ₹250 crore this year for the expansion of Paytm QR in tier IV and V towns. “With this investment, Paytm expects to reach more than 20 million merchants across India by the end of this fiscal,” it said in a statement. Paytm had introduced QR code-based payments […]
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Companies

Paytm’s Annual Loss Doubles to $549M

“Running a payments business in India is not cheap. Just ask Paytm . One of India’s largest payment companies reported a net loss of Rs 3959 crore ($549 million) for the financial year that ended in March, up 165% over Rs 1490 crore ($206 million) in the same period last year. Undeterred from losses, Paytm […]