Archive: May 24, 2023

Paytail turns profitable, sees a 7X increase in GMV and 9X increase in revenue in FY23

New Delhi: Paytail, a fast-growing tech platform to enable consumer access EMIs in offline stores has experienced remarkable growth in FY23, with quarterly growth of >70% and annual growth of 9X. In FY 23, the total disbursals by Paytail stood at ₹1200 crores as against ₹142 crores in FY 22. The company attributes the growth to its expanding distribution network of retail merchants and corporate partnerships. Paytail’s distribution network includes 85,000+ merchants, and the company aims to expand this network to about 400,000+ in the next 2-3 years. The company has started delivering operating profit and is geared to scale the business sustainably.

“This is a significant milestone for us. The key to our success at Paytail is our commitment to creating a strong, sustainable business model. We’re not just focused on short-term growth – we’re building a platform that will continue to deliver value to our customers, merchants, corporate and lending partners for years to come,” said Vikas Garg, founder & CEO, Paytail.

Paytail’s platform operates a network comprising corporates, lending institutions, retail offline merchants, and consumers. By partnering with corporates and retail merchants, the platform facilitates credit provision to consumers for purchasing products, which are delivered through partner financial institutions. Paytail strictly adheres to RBI guidelines and compliance regulations. Notable lenders on the platform include ICICI Bank, Cholamandlam, HDB Financial, Piramal, and others. The brand’s tie-ups include significant players in the consumer durable industry as well as the uncatered EV space. Some of the key names in the list include Vivo, Oppo, Voltas, Bluestar, and Livguard, among others.

The company is targeting another 5X-6X growth in the current financial year while maintaining a healthy level of profitability balance. Paytail has achieved an impressive feat of zero cash burn and operating profitability within just two years of inception while maintaining a good growth rate. This achievement places Paytail among the few fintechs that have been able to accomplish this milestone. The company is optimistic about the future and expects this number to grow significantly in the coming months as they continue to scale up their operations.

“As we continue to expand our distribution network and build partnerships with leading brands and merchants, we’re confident that Paytail will become the go-to platform for affordable and convenient EMI options. Our focus on delivering value to our customers and partners is what sets us apart and ensures our long-term success,” Vikas added.

With a goal to provide convenience, speed, and affordability to customers, Paytail is

disrupting the $1 trillion offline commerce market. The company is ensuring that potential buyers never leave without making a purchase from one of its partner stores, thereby transforming merchants’ selling experiences through scalable technology solutions. Additionally, Paytail has some of the largest lending franchises in India on its platform, ensuring a regular stream of capital supply and providing greater value to its merchant partners and customers.

In the next 3 years, Paytail is gearing up to become the largest affordability service provider for offline stores beyond Tier 1 cities and is looking to enter underserved states in the Southern and Eastern parts of India.

Huawei ADN Leads Globaldata Network Resource Orchestration Report for a Second Consecutive Year

[Shenzhen, China, May 24, 2023] In the latest Network Resource Orchestration: Competitive Landscape Assessment report (NRO report) released by GlobalData — a world-leading data insight solution provider, Huawei’s autonomous driving network (ADN) solution stood out from among seven prestigious ICT solution providers around the world to be once again elected the best NRO leader. This is the second year in a row that Huawei tops the rankings.

A growing number of industry-leading ICT solution providers around the world offer highly-competitive automatic and intelligent NRO solutions to help communications service providers (CSPs) deliver in flexible ways the 5G services that their customers expect.

GlobalData’s annual NRO CLA report evaluated the solutions provided by industry-leading network equipment manufacturers (NEMs) and outlined the increasing market demands for networks with high complexity, single-domain intelligence, 5G cloud-native, 5G transmission and vRAN, and traditional device management models. Seven world-renowned NEMs were rated from five dimensions — Portfolio Scope, Functional Capabilities, Standard and Openness, Lifecycle Automation, and Production Experience — at five levels — Leader, Very Strong, Strong, Competitive, and Vulnerable.

Huawei’s ADN solution placed as the top NRO supplier with the highest comprehensive rating in four dimensions out of the five-capability metrics: Portfolio Scope, Functional Capabilities, Lifecycle Automation, and Production Experience. Huawei also earned a Very Strong grade in the dimension of Standard and Openness.

Over the past few years, Huawei’s ADN solution has made tremendous improvements to empower CSPs to achieve L3 Autonomous Networks (AN). Such networks, which are due to become the crucial infrastructure in an intelligent society, have already received extensive global attention and recognition in the industry. Huawei calls upon all parties in the industry to collaboratively and continuously improve industry standards, level definitions, and business practices, accelerate industry development, and launch more innovative AN L4 practices to help CSPs achieve L4 AN by 2025.

NMIMS Bengaluru to host the 108th Lawyers Round Table with J. Sai Deepak

Bengaluru, 24th May, 2023: NMIMS School of Law, Bengaluru, hosted a Lawyers Round Table (LRT) featuring renowned advocate of the Supreme Court of India, Mr. J.Sai Deepak. The event highlighted – “The Changing Landscape of Commercial Litigation”, aimed at providing insights to the law students, particularly those who are graduating and seeking guidance on choosing their practice area. LRT is a monthly knowledge-sharing event that provides a platform for legal and other professionals to discuss current topics of relevance.

Mr. J.Sai Deepak has practised as an independent counsel before the High Court of Delhi and the Supreme Court of India. He is also awarded with the Young Alumni Achiever’s Award by alma mater IIT Kharagpur. The event marked the first time that LRT was hosted in an educational institution, highlighting the commitment and capability of NMIMS Bengaluru’s management, students, faculty, and staff. Mr. Mysore Prasanna, the ex General Counsel of The Aditya Birla Group, served as the event’s convener. He is the founder of the LRT initiative and has been promoting the forum for the past nine years.

“I consider myself lucky to have been granted the opportunity to actively contribute to shaping pivotal legal rulings within the domains of my specialisation. My focus on civil commercial litigation, including IP litigation and arbitrations, has allowed me to work on matters related to the Companies Act, the IBC, Competition Law and Constitutional Law. Through my appearances before the Constitution Benches of the Supreme Court and other high-profile cases, I have been able to make a significant contribution to the legal landscape of the country,” said Advocate J.Sai Deepak.

“We are extremely grateful to Mr. J.Sai Deepak for being a part of the 108th edition of the Lawyers Round Table at NMIMS Bengaluru. Your presence has added immense value to the event, and we are grateful for the knowledge and insights you have shared with our students. We look forward to many more collaborations in the future.” Dr. Narayani Ramachandran, Director, NMIMS Bengaluru expressing her gratitude towards Advocate J.Sai Deepak for sparing his time to address the students.

“This impactful interaction will serve as a catalyst, igniting a passion for excellence in our students’ legal careers and empowering them to create a significant and positive impact on society. They will certainly cherish this opportunity to learn and interact with one of the most distinguished legal professionals in the country. We look forward to welcoming corporates, law firms and independent practitioners to consider students from our 1st batch of law graduates, who will pass out in Mid-2024, for their talent requirements. Our gratitude is towards Advocate J. Sai Deepak for agreeing to honour us with his presence here today and advising our audience about the importance of value addition and the upcoming realities of the profession. Our gratitude is also due to Mr. Prasanna, whose vision for the LRT and SOL Bengaluru make this event a reality. Also, the entire NMIMS management, we are very thankful for your constant support in making these visions for such endeavours a reality.” said Dr. Tanmeet Sahiwal, Chairperson, School of Law, NMIMS Bengaluru.

The 108th Lawyer’s Round Table served as an invaluable learning opportunity for students enabling them to make informed decisions about their future career path, with guidance from the best in the legal profession. NMIMS School of Law, Bengaluru, is committed to providing comprehensive and practical education to its students. In doing so, it is essential to recognize the importance of practical exposure and interactive sessions that can prepare future law practitioners and policymakers.

IIBA Expands Horizons: Launches Subsidiary in India to Boost Ireland-India Trade Relations

May  2023, Bangalore, India – The Ireland India Business Association (IIBA) dedicated to fostering commercial links between Indian and Irish businesses, announces the launch of its subsidiary in India. The formation of the IIBA Foundation (India) is a significant milestone that strengthens IIBA’s commitment to knowledge sharing and networking among Irish and Indian business communities as well as facilitating bilateral trade and cooperation between the two nations.

The launch in India underscores the shared commitment to strengthen and expand the trade relationship between the two countries, which is visible in the tripling of India-Ireland bilateral trade in goods and services over the past decade, reaching a significant value close to Euro 10 billion. The IIBA which was formed in Ireland in 2008 has been highly successful in promoting and bolstering bilateral business relations through close working relationships with leading Indian and Irish business associations, trade bodies, and government agencies.

Mr. Brendan Ward, Ambassador of Ireland in India, said, “India is the fastest growing large economy in the world and Ireland is the fastest growing economy in Europe. With economic and trade relations between India and Ireland growing rapidly, IIBA will play a major role in raising awareness of the opportunities offered in both countries and encouraging investment.”

Ms. Tanaz Buhariwalla, India Director, IDA Ireland said- “The registration of the Ireland India Business Association (IIBA) in India is a milestone reflecting the importance of the economic relationship between India and Ireland. Close to 100 Indian companies have chosen Ireland as their international home, capitalizing on Ireland’s unique geographic advantage as a gateway to the EU and its reputation as a top 15 innovative country. The IIBA will play a crucial role in strengthening commercial ties between our nations, fostering collaboration, and facilitating business development and knowledge exchange leading to bilateral economic growth. As Ireland’s investment promotion agency, IDA Ireland acknowledges the significant value that the IIBA brings to the table, and we remain dedicated to supporting its efforts in promoting bilateral trade and cooperation.”

Mr Saurav Sanyal, Chairman of IIBA (India) said, “The launch of Ireland India Business Association in India marks a significant step forward in strengthening the commercial bonds between our two nations. We are eager to create a platform that fosters collaboration, facilitates business expansion, and generates opportunities for growth. Together, we can unlock the immense potential that lies within the Ireland-India trade corridor. The launch in India reaffirms IIBA’s commitment to facilitating a vibrant and growing trade relationship between Ireland and India.”

The IIBA has formed sector-specific working groups, which focus on sectors such as Technology, Food & Agribusiness, Health and Pharmaceuticals, Education, Aviation, and Startups. Since its inception, the IIBA has garnered a diverse membership base, including prominent entities such as IDA Ireland, Enterprise Ireland, Tata Consultancy Services, WIPRO, HCL, Infosys, and number of small and medium-sized businesses across various sectors in India and Ireland. This broad representation reflects the IIBA’s ability to connect businesses from different industries and facilitate collaborative opportunities. The growing membership underscores the significance of the growing trade relationship and commercial opportunities between India and Ireland. This is likely to be further enhanced through the Free Trade Agreement being negotiated with the European Union.

A launch event was hosted at the Irish Consulate in Mumbai, which was graced by senior executives from Ireland and India including representatives from the Irish Embassy in India, industry leaders, prominent members of the business communities from India and Ireland, and representatives from leading Indian educational institutes. This gathering not only celebrates the establishment of IIBA in India but also lays the foundation for a fruitful collaboration between Irish and Indian businesses.

Keka, SME HR tech leader, organizes badminton event SHUTTLERS to mark HR Day

Hyderabad, May 2023: Keka, the SME HR tech leader of India based out of Hyderabad, organized SHUTTLERS, a two-day badminton tournament, to observe International HR Day. The event was conducted at Gamepoint HITEC in Hyderabad on May 20 & 21, for corporate HR professionals. SHUTTLERS was held in the presence of Arjuna Awardee and badminton player Parupalli Kashyap, who also stepped into the badminton court to play a few games with the participants.

International HR Day is celebrated on May 20 to commemorate and celebrate the hard work and achievements of HR professionals responsible for driving an organization’s and its people’s growth. The overarching goal of SHUTTLERS was the convergence of corporate HR professionals in an engaging event that promotes physical wellness, contributing to overall productivity and performance.

Vijay Yalamanchili, CEO of Keka, said, “Through our badminton tournament, SHUTTLERS, we have been able to solidify our presence in the HR community of Hyderabad. In a conventional scenario, a company’s HR team organizes employee engagement activity. Changing the narrative this HR day, we decided to give our people managers a chance to let loose and enjoy themselves. It was heartwarming to see so many HR professionals participating in the tournament and having a great time.”

The two-day badminton tournament, SHUTTLERS, was attended by 350 participants, which included some big names from the HR ecosystem. The runner-up of the women’s single was Pavitra Patnaikuni from Qualizeal and Men’s single winner was Abhinash Waza Info LLC. Sudha Nujilla from GAC Digital Pvt Ltd & Velluri Siva Pavan from Pixelloid Studios Pvt Ltd was awarded as the emerging player in the women Nd men category. The event ended with prize distribution by the chief guest followed by high tea.

Beat the heat with Paytail’s 0% EMI on ACs from leading brands

As the summer progresses, the ever-soaring temperature has made air conditioners a necessity for Indian households. If you have been considering buying an air conditioner, we have some exciting news for you. Paytail, a leading retail checkout EMI provider, has announced a truly cool offer for customers to beat the heat this summer with 0% EMI on ‘affordable yet best-in-class differentiated’ ACs from leading brands. Customers can now avail of the instant No-Cost EMI option for 6 to 12 months on air conditioner models from popular brands like Bluestar, Voltas, Amstrad, Vestar, and many more. This Paytail offer is available at more than 18000 authorized resellers of several ac brands across India.

With Paytail’s 0% EMI option, customers can avail of an instant digital credit facility through Paytail’s easy-to-use mobile application at the time of checkout at the retail store and choose a monthly EMI amount and repayment tenure that fits their budget. The process is entirely paperless, making it hassle-free and convenient for all parties involved.

“We understand that air conditioners are an expensive purchase and need prior financial planning. With our 0% EMI option, customers can own an air conditioner at just INR 3,333 per month and pay for it over 6 to 12 months. This way, they get to expand their options and choose from a wide range of air conditioner models without breaking the bank or worrying about paying any upfront costs, interest, or hidden charges,” said Vikas Garg, Founder & CEO.

Paytail is committed to making affordability options available not only in metro cities but also in Tier 2, 3, and 4 cities and towns. With this goal in mind, Paytail is constantly striving to offer innovative solutions to its customers. One such solution is the instant settlement (same-day settlement) for merchants, which benefits the retailers and is a win-win for all stakeholders. Paytail’s dedication towards providing hassle-free and efficient payment solutions has earned it an impressive track record among customers across Bharat. With over 85,000 retailers, 45+ institutional partnerships, and nearly 1.9 million app downloads, Paytail has established itself as a leading player in the retail checkout EMI industry in India.

So, make the most of Paytail’s affordable no-cost EMI options to stay cool this summer. Look for the nearest electronics retailer on the Paytail app and bring home a brand-new air conditioner.

ASUS becomes the No. 2 consumer notebook company in India with a 17.9persent market share in Q1 2023

New Delhi, May 24, 2023: ASUS India, a Taiwanese technology giant, becomes the No. 2 consumer notebook company in India with a 17.9% market share based on unit shipment and registered a 59.8% (QoQ) growth in Q1 2023 as compared to Q4 2022 while the market declined by 41.8% (YoY) in the consumer Notebook segment, as per IDC’s Worldwide Personal Computing Devices Tracker, 1Q23 release.

In India, ASUS has kickstarted 2023 with robust product launches across consumer notebook, gaming, and creator series segments. The brand had surpassed the latest innovations across segments by launching some incredible innovations in the market with the launch of the Zenbook S 13 OLED, the world slimmest laptop weighing just 1 Kg. Followed by the Strix Scar series in gaming and the iconic creator series, powered by 13th Gen Intel Core Processors.

With this growth trajectory, ASUS has been one of the strong leaders in the gaming segment as well and is addressing the latest needs of customers with the innovative ROG laptop series.

Commenting on the achievement Arnold Su, Vice President, Consumer & Gaming PC, System Business Group, ASUS India, said, “We are elated to capture the No. 2 position in the consumer notebook category in India in Q1 2023. This is indeed great teamwork to receive this accomplishment in the very first quarter of the year, which will keep the team motivated and passionate to touch new benchmarks in the coming quarters and help the business grow exponentially in India. With this recognition, we are aligned with our vision and hoping to receive newer and bigger heights in 2023 by offering customers innovative and high-performance devices catering to every segment of customers.”

ASUS is also working towards innovations around health & hygiene concerns and introduced ASUS Antimicrobial Technology recently, which is available in most of the newly launched series of laptops of 2023 in the Consumer Notebook segment. ASUS Antimicrobial Guard inhibits the growth of bacteria, while ASUS Antimicrobial Guard Plus uses a denser treatment* that also inhibits viruses. The technology is scientifically proven — using the ISO 217021 and 221962 standards — to inhibit virus and bacteria growth by more than 99% over a 24-hour period.