Tag Archive: Paytm

Paytm Payments Bank, which got the final approval from the Reserve Bank in January, hopes to start operations by the month-end, Paytm founder and chief executive Vijay Shekhar Sharma said in Mumbai on Friday.

“If the RBI blesses us, we will be able to have our bank by this month-end. Banking must be made available to everyone, the money that the customer puts in isn’t a liability but an asset,” Sharma said at the India Today Conclave in Mumbai.

Stating that banking in the present form is outdated, he said, “Versace suits will not change the banking model. Our payments bank will be built on a new model that will be focussed on bringing financial services to the hundreds of millions of unserved/under-served.”

Taking a swipe at the way banks have dealt with loans given to industrialists and especially in dealing with the big-ticket defaulters, Sharma said, “the present financial system penalises a sincere person, but if someone speaks the language of those in the corridors of power, he takes a loan of hundreds of crores and fails to pay it back, he will still manage to live in London or such locales.”
Sharma expressed belief that with greater penetration of mobile Internet connectivity, his business will grow further.

Paytm currently has about 21.5 crore subscribers, Sharma said adding as against this SBI has 20.7 subscribers. Paytm does about 20 crore transactions a month, while according to RBI data, all other e-wallets put together do 19 crore transactions.

“You can undermine a business but not a technology; it is a tsunami,” he said on online payments and smart phones. To further deepen this, we need better Internet network and telecom connections, he added.
Source : (gadgets.ndtv.com)


On Friday, Paytm founder Vijay Shekhar Sharma announced via a Facebook post that customers at Indian Oil petrol pumps can pay for fuel using the mobile wallet. The company is enabling this one pump at a time, so for now, only a few pumps accept payments via Paytm.

This continues the path for mobile wallets to become a viable alternative to debit cards – services like Paytm, and competitors like MobiKwik and FreeCharge, are widely accepted online, and have been making an offline push as well. For example, Paytm is working on a payment token for the Delhi Metro, and a QR code based cashless payment system for small merchants.

At the same time, the company has also announced a virtual prepaid card with ICICI bank – physical cards issued to customers that can be used at any merchants that accept card-based payments, offline or online, at outlets that accept Visa, MasterCard, or RuPay. As part of the offline-online connection, Paytm wallet users can also add money to their wallets through ICICI’s branches, even if they are not ICICI customers.

And as one of the 11 new payment banks, Paytm could soon issue debit cards so you can cash out your mobile wallet at an ATM if you want to.

As of now, the exact details of the payment process at petrol pumps is not clear – Gadgets 360 has reached out to Paytm for more details, and we will update this story once Paytm responds – however, it’s becoming increasingly clear that wallet companies including Paytm are now trying to make their presence felt offline. Tie-ups with restaurant chains (Pizza Hut and Costa Coffee for Paytm, or McDonald’s for FreeCharge) are a start, but the end game – as both Paytm’s Payment Product Pipeline Head Nitin Misra, and FreeCharge’s COO Govind Rajan have separately said to Gadgets 360, is to make wallets viable in spaces where cash rules; for things as simple as paying the local vegetable vendor or auto rickshaw driver.

Source : (gadgets.ndtv.com)

Train passengers will now find it easier to make online payments for the food ordered through e-catering with Indian Railway Catering and Tourism Corporation (IRCTC) entering into a tie-up with Paytm, a leading payment and e-commerce shopping website.

“We have roped in Paytm for providing maximum option to passengers for making online payments. Efforts are also underway to bring in some more reputed caterers in our e-catering portfolio,” said IRCTC Chairman and Managing Director AK Manocha.

Travelling passengers will have an array of choices for making payments for e-catering like prepaid (online payment) or cash on delivery (CoD) as per their convenience.

“Our tie-up with Paytm will provide an additional payment gateway for food of their choice. In the new age, we have to offer passengers not only novel food options but also more convenient payment methods. The arrangement with Paytm is an effort in that direction,” he pointed out.

IRCTC, a PSU of Indian Railways, clocks 5.5 to 6 lakh e-ticketing bookings daily, on an average. “We send an e-mail to travelling passengers one day in advance to know whether they would like to avail of e-catering facility. Food can also be ordered on our website while booking reservations,” he said.

In order to popularise our operations, IRCTC has created a user-friendly website and has been sending SMS, e-mail to all e-ticket passengers.

For e-catering facility, known as “Food on Track”, IRCTC has already tied up with online delivery firm Food Panda, enabling consumers to order from a variety of cuisine options.

“We are in talks with several other reputed catering companies and fast food giants like McDonald’s, Bikanerwala, Nirula’s, Sagar Ratna, Wangs Kitchen, Sarvana Bhavan and Bittu Tikki Wala,” he informed.

IRCTC is trying to impanel food aggregators like Subway and Pizza Hut to expand catering choices for passengers. It has started website integration with Domino’s Pizza for seamless order by rail travellers. Food Panda, which is already empanelled, will soon be visible on the IRCTC’s website.

Currently, IRCTC provides e-catering facility in 1516 trains without pantry cars. In addition, it provides station-based “Food On Track” facility at 45 stations including Howrah, New Delhi, Chennai Central, Mumbai Central, Delhi, Bangalore City, Patna, Lucknow, Bhubaneswar, Madurai and Amritsar among others.

The e-catering facility allows passengers to order meals while travelling, either online on http://www.ecatering.irctc.co.in or by making a phone call to 0120-2383892-99 or the toll-free number at 1800-1034-139. They can also choose to do so through an SMS to 139 by giving details of their PNR and seat number.

Source : (gadgets.ndtv.com)

Paytm announced its partnership with ICICI Bank Thursday, enabling payments at a much wider set of merchants through a co-branded virtual prepaid card linked to the user’s Paytm Wallet.

Physical cards will also be issued to a select set of customers who will be able to use them at any merchant that accepts card-based payments, the company said.

Paytm wallet users can also add money to their mobile wallets by making cash deposits at any of the 4,000 ICICI Bank branches, irrespective of whether they are ICICI Bank customers or not.

“Through this 16-digit, Paytm-ICICI Bank co-branded virtual prepaid card, our customers can shop at any retail outlet that accepts Visa, MasterCard and Rupay. This move will give universal access to our consumers, who can shop at any establishment that accepts, credit, debit and prepaid cards,” said Vijay Shekhar Sharma, Founder and CEO, Paytm in an emailed statement. He also added that the company was considering bringing this offering to customers through Paytm’s Payment bank, which starts operations next year.

Paytm was one of 11 entities to receive a Payments Bank license in August this year.

Paytm was one of four wallet players that tied up with EzeTap, a smartphone-based payments device provider in October.

Source : (gadgets.ndtv.com)

‘Little’, the hyperlocal deals marketplace in the online to offline space (O2O), Tuesday announced the acquisition of curated deals portal Trideal for an undisclosed amount.

Trideal offers popular deals in food and beverages, wellness and entertainment. This is the first acquisition for the company which was set up by Manish Chopra and Satish Mani, who previously founded fashion retail portal Zovi.

Incubated in Chitkara University, Punjab’s Largest University, Trideal has 1000 merchants. Operating in the tri-cities of Chandigarh, Mohali and Punchkula, Trideal gets around 7,000 unique visitors, a statement of ‘Little’ issued here said.

As part of the acquisition, the co-founders of Trideal and its core team will join Little, the statement added. Mobile deals app Little was launched in July 2015 and has been funded to the tune of $50 million (roughly Rs. 325 crores) by Paytm, SAIF Partners and Tiger Global Management, among others. The company said it targets to be India’s largest deals marketplace.

“Trideal has a large customer base and significant merchant database in Chandigarh offering excellent deals. The core of Trideal is similar to that of Little. This acquisition fuels our expansion plans in Punjab,” Manish Chopra, chief executive and co-founder of Little said.

Trideal will also be able to access Little’s large merchant and deals database providing a significant boost in business for its current merchants. With the O2O deals space in India being highly unorganised and about 99 percent of the commerce happening in the offline market, the ‘Little’ app pitches itself as a hyperlocal deals discovery platform for customers and a significant sales channel for merchants. It has so far enrolled 8,000 plus merchants offering over 27,000 deals across 11 cities.

By March 2016, Little will offer over 50,000 deals across services like restaurants, movies, hotels, salons, gyms, spas.

The company expects to hit a gross merchandise value run rate of $170 million (roughly Rs. 1,105 crores), it said.

Source : (gadgets.ndtv.com)

Online marketplace eBay has partnered Capital Float, a digital financing platform, to provide finance to e-commerce sellers across the country in under three days.

Together with Capital Float, eBay hopes to provide its seller-partners with that much needed shot of capital to help them win in a highly competitive market, the companies said in a statement on Wednesday.

Sellers from across the country can avail collateral-free finance from Capital Float ranging from Rs. 1,00,000 to Rs. 1 crores at industry-competing interest rates.

“eBay India has been at the forefront of creating tools that have enabled business growth for its sellers, irrespective of their size… Our association with Capital Float is an effort to support our sellers by providing them financial assistance and help them ship more,” eBay India Director Seller Service and Technology Category Pankay Ukey said.

Sashank Rishyasringa, co-founder of Capital Float, said: “It has been only a few days since our alliance with eBay was formalised and we have already disbursed loans of close to Rs. 10 crores to sellers on eBay”.

Other e-commerce players like Snapdeal, Flipkart and Paytm have also forged similar partnerships to enable SMEs procure loans in a hassle-free manner.

Following PayPal’s separation from e-commerce major eBay in July, PayPal India said that it will partner with its founder’s competitors and is keen to expand in the country. In the first week of August, PayPal announced improved Buyer Protection for Indian users, now extended to intangible items for international transactions. The extended buyer protection will help mitigate the fear of uncertain delivery or ‘Lost-O-Phobia’, the top fear in the minds of Indian consumers, PayPal said.

Source : (gadgets.ndtv.com)

US taxi-hailing app Uber Technologies on Sunday said it will accept payments through credit cards from its riders in India.

The service will start from Monday and customer could now pay for all Uber rides using international and Indian credit cards, the company said.

It will be available to all Android users immediately while iOS users would be able to avail of this service in the coming weeks, it said.

Following RBI regulations, there shall be two factor authentication flow built in to the app, and customers would have to enter online banking pin or a one-time password before company could charge the fare to customer’s card, Uber said in a statement.

“While we now accept credit cards. We continue to accept Paytm Wallet as a mode of payment,” the company said.

Earlier, the company had run into regulatory hurdles with Reserve Bank raising objections to its payment system as it had not included the two-step authentication process. Uber was then asked to comply with the regulatory norms.

Following the RBI order, Uber changed its payment method and partnered with an India-based virtual wallet provider, Paytm.

The company said it will accept all major credit cards issued by Mastercard, Visa and American Express. In its statement, it assured users their payment information will be kept ‘secure and encrypted’, and adds users can associate more than one card.

Source : (gadgets.ndtv.com)

A devastating earthquake with its epicentre in Nepal struck the Himalayan nation and its neighbouring countries on Saturday. With thousands dead and extensive damage to property, the immediate concern of people is to contact loved ones in the region and ensure their safety. Those in the impacted region are also trying to get in touch to let family and friends know they are safe. Tech and telecom companies are doing their bit to lend a helping hand.

Google has launched the 2015 Nepal earthquake person finder that can be of help if you are looking for someone. The tool can also be shared to communicate the whereabouts of someone you know. The service can be also be used via SMS.

Facebook has also launched Safety Check that automatically lets people in the impacted region inform others about their safety. “When disasters happen, people need to know their loved ones are safe. It’s moments like this that being able to connect really matters,” CEO Mark Zuckerberg wrote on his Facebook page. “If you’re in one of the areas affected by the earthquake, you’ll get a notification asking if you’re safe, and whether you want to check on any of your friends.”

Indian telecom companies have made calls to Nepal discounted or completely free. Messaging app Viber has made outgoing calls to landlines and mobiles free users of its Viber Out service.

“Starting 11 pm, 25th April , MTS India is treating all calls made from its network to Nepal as local calls i.e Rs. 1/ minute. This is being done for the next 48 hours to support disaster relief efforts and to enable concerned callers to reach out to their friends and family,” MTS India said in a statement.

In a statement, Tata Teleservices Ltd. said, “… to support disaster relief measures, charges for all calls to Nepal on the Tata Docomo network are reduced to 1 paise /second between 26th to 28th April.”

Airtel said: “We are deeply saddened by the severe impact that one of the worst earthquakes in Nepal has had on the lives of its people. As a small gesture during this hour of crisis, we have decided to offer all calls on the Airtel network from India to Nepal completely free of cost for the next 48 hours [Monday, Tuesday] effective midnight, thus enabling customers across the country get in touch with their families and friends in Nepal.”

‎”Vodafone is facilitating all calls made to Nepal at just Re.1 per minute against the regular call rate of Rs. 12 per minute with immediate effect upto 10:00hrs on 28th of April 2015‎,” the company said in a statement.

In response to the earthquake in Nepal, messaging application Viber has switched off ‘Viber Out’ billing in Nepal, so Nepalese users can make free calls to mobile and land line numbers anywhere for the next 48 hours (starting Sunday), the company said in an email statement. Calls to Nepal via Viber Out have also been made free.

State-run BSNL and MTNL decided to charge local rates for calls made to the Himalayan nation. Private player Idea Cellular has also announced that it would charge calls made to Nepal from its network equal as per local call rates up to morning hours of April 28.

Uber and Paytm are making financial donation towards relief efforts designed to help those impacted by the earthquake.

Source : (gadgets.ndtv.com)