Tag: Bhavesh Gupta

Paytm Payment Gateway waives off transaction fees on donations received by NGOs working for COVID relief
Business, News

Paytm and HDFC Bank announce strategic partnership for delivering financial solutions to end consumers and merchants across India

Aug 23, 2021 by Rekha Nair 0 Comments #Bhavesh Gupta, #CEO, #Consumer Finance, #COO, #Digital Banking & IT, #Group Head – Payments, #HDFC Bank, #Offline Payments, #Parag Rao, #Paytm Lending, #Renu Satti

Mumbai: India’s leading digital ecosystem for consumers and merchants (1), Paytm and India’s largest private sector bank, HDFC Bank, today announced that they have entered into a strategic partnership.

This brings together two market leaders who will drive innovative digital solutions for financial transformation in the country by combining their strengths in the banking, lending, and digital payments space.

The fusion of HDFC Bank’s network, products and credit appraisal capabilities and Patym’s technological platform will accelerate digital transformation in semi-urban and rural India while bringing more people into formal banking channels.

Paytm is India’s largest payments platform* with 333 million users and 21 million merchants onboard (1).

With over 50 million card customers (both credit and debit cards) HDFC Bank is a strong player in the payments ecosystem with leadership in both credit card issuing and acquiring businesses. It has a footprint of over two million merchant acceptance points and 48 per cent business market share on merchant acquiring volume. It remains the number one credit card issuer in the country with a spend share of over 27 per cent.

Through this partnership, Paytm & HDFC Bank will build comprehensive solutions across Payment Gateway, POS Machines and Credit Products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay, and more.

The first leg of the partnership will include Payment Gateway and POS Solutions for Indian merchant partners.

The partnership between Paytm and HDFC Bank will aim to empower the new businesses, which have recently ventured online, and enable them to scale up further.

Paytm and HDFC Bank are coming together for two broad POS offerings:  HDFC Bank will drive merchant partnerships across India, to whom Paytm will offer its existing range of Android POS devices. Through the partnership, HDFC Bank’s salespersons will start selling Paytm’s payment solutions in the market. HDFC Bank will be the payment partner, while Paytm will be the distribution and software partner.

Paytm and HDFC Bank will jointly launch a co-branded POS product in the retail segment, which Paytm will have the option to offer it to its own customer base.

Talking about the partnership, Bhavesh Gupta, CEO, Paytm Lending said, “We are extremely delighted to partner with HDFC Bank, which has been one of the leaders in the retail lending space in our country for the last two decades. Together we aim to provide innovative digital lending & payment solutions for consumers and merchants alike. This partnership will further strengthen financial services ecosystem by bringing together our technology and digital solutions and HDFC Bank’s retail and credit prowess.”

Renu Satti, COO, Offline Payments, commenting on the partnership said, “Paytm’s reach in the offline & online merchant space and HDFC Bank’s retail influence, will aim for dynamic growth in the payments space. Paytm has a history of launching innovative products that have made way for the adoption of retail payments among various merchant partners. This partnership aims to bring innovative products focusing on affordability.”

Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank said, “As India’s largest issuing and acquiring bank, we have always endeavoured to personalise our offerings to customers-consumers, businesses and corporate houses. Through this partnership, we will also be jointly delivering enhanced SmartHub solutions to the market. We believe that this is the start of a great partnership and the cumulative strength of both HDFC Bank and Paytm will help us strengthen our respective leadership positions”.

HDFC Bank SmartHub solutions is an integrated platform offering merchants a one-stop solution shop for all their business needs-payments, banking, lending and segment-specific business solutions.

Paytm All-in-One Payment Gateway offers Zero fees on UPI payments to merchants
Business, News

Paytm launches Postpaid Mini, expands its Buy Now Pay Later service

Jul 5, 2021 by Rekha Nair 0 Comments #Bhavesh Gupta, #CEO - Paytm Lending

Hyderabad: India’s leading digital financial services platform Paytm today announced the launch of Postpaid Mini, an extension of its Buy Now, Pay Later service, driving affordability amongst those new to credit. These small ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing pandemic. This service has been launched in partnership with Aditya Birla Finance Ltd.

With the launch of Postpaid Mini, the company will offer access to loans ranging from Rs 250 to Rs 1000, in addition to Paytm Postpaid’s instant credit of upto Rs 60,000. This will help users pay for their monthly expenses, including mobile & DTH recharges, gas cylinder booking, electricity & water bills, shop on Paytm Mall and more. With this service, Paytm Postpaid is offering a period of up to 30-days for repayment of loans at 0% interest. There are no annual fees or activation charges, only a minimal convenience fee.

Through Paytm Postpaid, users can pay at online and offline merchant stores across the country and not have to worry about upsetting their monthly budgets. Paytm Postpaid is currently accepted at thousands of petrol pumps, neighbourhood kirana stores or pharmacy shops, popular chain outlets (such Reliance Fresh, Apollo Pharmacy, etc.), internet apps (such as Myntra, Firstcry, Uber, Dominos, Ajio, Pharmeasy, etc.) and popular retail destinations (such as Shoppers Stop, Croma, etc.) among others. Paytm Postpaid is available in over 550 cities in India.

Bhavesh Gupta, CEO – Paytm Lending said, “We want to help new-to-credit citizens start their credit journey and develop a financial discipline. Through Postpaid we are also making sincere attempts to help drive consumption in the economy. Our new Postpaid Mini service helps users manage their liquidity by clearing their bills or payments on time.”

Business World

Paytm launches Instant Personal Loans, capitalizes on technology to offer credit to 1 million customers

Jan 7, 2021 by Rekha Nair 0 Comments #Bhavesh Gupta, #CEO - Paytm Lending

Hyderabad: India’s leading digital financial services platform Paytm has introduced Instant Personal Loans on its platform to facilitate access to credit services to the masses. The service can be availed 24X7, round the year even on public holidays and weekends. Paytm is the technology & distribution partner for NBFCs and would help them expand the reach and adoption of loan services to salaried individuals, small business owners and professionals. The loans would be processed and disbursed by NBFCs & banks. This move will bring ‘new to credit’ customers into the ambit of the formal financial market, and will also empower individuals from small cities and towns who do not have access to traditional banking institutions.

Paytm has digitized the entire process for loan application and disbursal with no physical documentation requirement. This unique service proposition is built on Paytm’s cutting-edge tech platform which enables banks and NBFCs to process loans end to end in less than 2 minutes. It comes with a flexible repayment tenure of 18-36 months and EMI is determined accordingly. The eligible customers can avail of the service through the ‘Personal Loan’ tab under the Financial Services section and can manage their loan account directly from their Paytm app. The company has partnered with various NBFCs and banks to facilitate this service. During the beta phase, Paytm disbursed personal loans to over 400 selected customers. The company is now aiming for over 1 million users by fiscal year-end to avail the personal loan services from the platform.

Bhavesh Gupta, CEO – Paytm Lending said, “We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfil dreams and ambitions. Our aim is to become a growth enabler for India’s aspiring youth and young professionals to help them become self-reliant. We will continue to innovate and digitise as many services that help in bringing ‘new to credit’ users into the formal economy.”

Recently, the company has expanded its Paytm Postpaid service to a large set of use-cases such as payments at neighbourhood Kirana and at popular retail destinations. Additionally, it has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer’s among others.

Business World

SBI Card partners with Paytm to launch Paytm SBI Card

Nov 5, 2020 by Gouri Achary 0 Comments #Bhavesh Gupta, #Mr. Ashwini Kumar Tewari, #Paytm Mall, #Paytm SBI Card, #Paytm SBI Card SELECT, #T R Ramachandran

SBI Card, India’s largest pure-play credit card issuer and Paytm which is India’s leading digital financial services platform have joined hands to launch India’s next-generation credit cards. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. Paytm SBI Card variants completely reimagine the credit card experience by enabling smart app features and providing superior rewards & benefits for its users. This launch is in line with SBI Card’s endeavour to offer customers tailored products which bring maximum value in line with spending needs and to encourage digital forms of payments for a safe and enhanced customer experience.

Paytm SBI Cardholder will be empowered to control their cards through smart one-tap features available on both SBI Card mobile app & Paytm app. Paytm SBI Card variants will be equipped with instant one-touch services such as blocking/ unblocking the card for online transactions, blocking the card in case of loss, issuance of a duplicate card and viewing outstanding credit-limit. It will also offer the option to safeguard users against fraud by switching off the card for contactless payments or international transactions when not required. Paytm App will also come with a personalized spend analyser helping in assessing expenses and planning future spends smartly. Paytm users can register their interest for the card from the Paytm app in less than 1 minute.

Customers can use Paytm SBI Card and Paytm SBI Card SELECT to maximize savings on the following:
• 5% Cashback on Paytm
o Movie Tickets
o Paytm Mall (Paytm eCommerce store where they can buy clothes, electronics, gadgets etc.)
o Travel Tickets (Bus, Train, Flights)
• 2% Cashback on other spends on Paytm App
o Utility Bills, Mobile Recharge etc.
• 1% Cashback on all other online & offline spends

Designed for the new age, digitally savvy customers, Paytm SBI Card and Paytm SBI Card SELECT will bring customers rewards and savings upon using the card on the Paytm app as well as millions of online and offline stores. Cardholders receive a cashback of 5% and 3% on Paytm SBI Card SELECT and Paytm SBI Card respectively, upon booking movie tickets and travel tickets on Paytm app as well as on purchasing items from Paytm Mall. For other spends on Paytm app using the Paytm SBI Cards, cardholders receive 2% cash back while 1% cashback is offered on spends elsewhere. The Paytm ecosystem offers a host of purchase categories and the Paytm SBI Card brings regular Paytm users a multitude of cashback on their most relevant spending categories.

Select customers have a chance to apply for Early Access to the card by joining the waitlist that has gone live on the Paytm App from 1st Nov.

Talking about the association with Paytm, Mr. Ashwini Kumar Tewari, MD & CEO, SBI Card said, “The credit card industry in India remains largely underpenetrated. Also, given the current scenario where social distancing is a way of life and cashless payments are a safer alternative, there has been a renewed impetus to digital payments from all corners. Our strategic partnership with Paytm is intended towards making credit cards more accessible to all. Through this partnership, we will also be able to leverage Paytm`s extensive reach to bring new-age, digitally evolved consumers across India, a safe, convenient, and rewarding payment solution, combined with the benefits of a credit card. Further, in an innovative move, we will be underwriting customers basis their transaction history on Paytm, thereby bringing the Paytm SBI Card seamlessly to a huge customer base.”

Bhavesh Gupta (CEO – Paytm Lending) said, “We proudly welcome SBI Card as our partner to introduce India’s most sincere credit card with intelligent features and great rewards that never expire. Our cards are truly designed to benefit India’s aspiring youth and evolved professionals. These cards will help them lead a healthier financial life by managing and analysing their spends through the Paytm app and make well-informed financial decisions. Our partnership aims towards democratizing access for credit cards amongst masses. We believe this can transform the credit market by bringing ‘new to credit’ users into the formal economy” and providing a truly personalized card management experience to our customers.”

T R Ramachandran, Group Country Manager, India and South Asia, Visa added, “We are delighted to join hands with two of our valued partners in India, SBI Card and Paytm to bring this unique offering to the market. Besides the relevance of the tap to pay card at times like these, the premium offers and discounts packaged by the three partners into this card make it an exciting offering for Indian consumers. We are excited about the prospect of this exclusive partnership introducing products and solutions to onboard a new generation of Indians to digital payments.”

The cards deliver value from the point of enrolment itself, offering welcome benefits like complimentary Paytm First membership worth Rs 750. Paytm SBI Card SELECT also offers cardholders Rs 750 cashback upon first use.

Paytm SBI Card SELECT customers get complimentary Priority Pass Membership for first two card membership years as well as four complimentary domestic airport lounge visits per year. Along with these benefits, the cards also reward customers for their loyalty through various annual milestone benefits. Paytm SBI Card SELECT customers can avail gift vouchers of up to INR 6000 annually on achieving certain milestone spends while Paytm SBI Card customers get complimentary Paytm First Membership Voucher upon achieving annual retail spends of Rs. 1 lac. The cardholders also get 1% fuel surcharge waiver along with cyber fraud insurance cover of 1 lac and 2 lacs respectively for Paytm SBI Card and Paytm SBI Card SELECT.

SBI Card and Paytm have digitised the entire credit card experience — from the application process to tracking & issuance of the credit card. The service offers the flexibility of choosing a convenient time on the Paytm app itself for the collection of documents along with online tracking of card issuance & delivery. The seamless application process will reduce the rate of application rejections and will enable more people to participate in the formal credit system.

Highlights of Paytm SBI Card SELECT and Paytm SBI Card

SBI Black Select Paytm card

Paytm SBI Card SELECT

Welcome Benefit – Complimentary Paytm First Membership and INR 750 Cashback

  1. Up to 5% Cashback on Paytm App spends and 1% Cashback on spend elsewhere
  2. Gift Vouchers worth up to INR 6000 on achieving milestone spends
  3. Complimentary Priority Pass Membership & Domestic Lounge Access
  4. Cyber Fraud Insurance cover of Rs. 2,00,000
  5. 1% Fuel Surcharge Waiver

SBI Black Paytm Card

Paytm SBI Card

Welcome Benefit: Complimentary Paytm First Membership

  1. Up to 3% Cashback on spends on Paytm App and 1% Cashback on other spends
  2. Complimentary Paytm First Membership Voucher on card renewal
  3. 1% Fuel Surcharge Waiver
  4. Cyber Fraud Insurance cover of INR 1,00,000

Customers can apply for the Paytm SBI Card and Paytm SBI Card SELECT online through the Paytm App. Both the cards can be availed at the annual fee of INR 499 and INR 1499 respectively. Customers will also have an option to choose from two-colour variants on the Paytm App.