Tag: Narendra Yadav

Business

Paytm signs MoU with Ministry of Skill Development and Entrepreneurship to professionally train youngsters in fintech

Dec 3, 2021 by Agency 0 Comments #DGT, #Director General, #Narendra Yadav, #Neelam Shami Rao, #Paytm, #Senior Vice President

Hyderabad: India’s leading digital ecosystem for consumers and merchants Paytm has today signed a Memorandum of Understanding with the Directorate of General Training, Ministry of Skill Development and Entrepreneurship to train 6000 individuals over a period of three years in the rapidly growing Fintech industry. This is in continuation with Paytm’s dedication to building India’s technology ecosystem and driving financial inclusion in the country.

The selected individuals will undertake a six-month program, designed by Paytm, in consultation with the DGT. It will equip the trainees with fundamentals and knowledge of the latest Fintech IoT products and financial services. The trainees will also undergo professional skills, communications, sales and pitch, and on-the-job training.

DGT is actively taking an important role in transforming the country’s youth into an industry-ready workforce. The collaboration is part of DGT’s Flexi-MoU scheme wherein industry partners provide an opportunity to the youth to acquire skills related to industries with high job potential through a ‘Learn and Earn’ approach consisting of a mix of theoretical and on-the-job training. Paytm’s focus is on creating a highly skilled pool of human resources that can contribute to the growth of the Fintech and digital payments ecosystem. Paytm will also offer employment to the eligible trainees post completion of the course.

Narendra Yadav, Senior Vice President, Paytm said, “India’s strength lies in the talent and skilled youngsters, who will play an important role in shaping the future of the country’s economy. DGT plays a key role in the vocational and craft-based training of eligible youth in the country. We look forward to a fruitful partnership with the DGT that will enhance the quality and number of trained personnel in the Fintech industry.”

Neelam Shami Rao, Director-General, DGT, said, “The growth of digital payments has been phenomenal in India and it will continue to rise further in the future. Paytm is one of the pioneers in the digital payments service industry and our focus is to leverage their expertise to train the country’s youth in this field.”

Business World

Paytm achieves over 1.4 Billion transactions in March, leads digital payments with Wallet, UPI, Cards & net-banking services

Apr 2, 2021 by Neel Achary 0 Comments #Narendra Yadav, #Paytm, #Vice President - Paytm

India’s leading digital financial services platform Paytm today announced that it has achieved over 1.4 billion monthly transactions in March, led by the massive growth in offline payments and financial services. With over 20 million merchant partners on board, the company maintains the highest market share in offline payments and continues to register 15% M-o-M growth. It is the only platform in the country that promotes all digital payments services including Paytm Wallet, UPI, Paytm Postpaid, cards & net-banking. Paytm is aiming to enable 50 million merchants with IoT-based payment devices including All-in-One QR, All-in-One POS, Android Smart POS, and Soundbox over the next few years.

Paytm which is on a mission to empower businesses with digital payments & reconciliation services continues to lead with the highest market share in offline merchant payments with 15% M-o-M growth. It is aiming to equip 5 million businesses with Paytm Soundbox 2.0, Paytm All-in-One EDC devices as well as its newly launched innovative Paytm Smart POS for Android phones that transforms a smartphone into a device that accepts debit & credit card payments just like a normal card swiping machine.

The company empowers users with multiple services including Paytm Payments Bank, Paytm Payments Gateway, Paytm Payout, Paytm Money for democratizing wealth creation, Paytm Insurance, Paytm Postpaid, Paytm Credit Cards as well as utility bill payments, offline merchant payments, content & gaming services.

Narendra Yadav, Vice President Paytm said, “Paytm is the only company that provides the widest range of options to both merchants and customers which has helped us to achieve over 1.4 billion monthly transactions. Consumers can pay from Paytm wallet, UPI, Paytm postpaid, credit or debit cards, and bank accounts. Similarly, merchants can accept payments into their wallet or in any bank account. Paytm has the widest network of merchants in the country with over 20 million merchants partners. We want to serve all spectrum of merchants, from street vendors to large retailers as we continue our efforts to enable them with IoT-based digital payments services. “

Business World, Health

Paytm leads India’s digital payments with 1.2 billion monthly transactions…

Mar 1, 2021 by Rekha Nair 0 Comments #Narendra Yadav, #Vice President - Paytm

Hyderabad/New Delhi: India’s leading digital financial services platform Paytm today announced that it has achieved over 1.2 billion monthly transactions led by the massive growth in offline payments and financial services. With this achievement, the platform has consolidated its leadership position as the largest digital enabler promoting all payment methods including Wallet, UPI, cards and net-banking.

Paytm, which is on a mission to empower businesses with digital payments & reconciliation services continues to lead with the highest market share in offline merchant payments with 15% M-o-M growth. The company is innovating & refining its products including Paytm All-in-One QR, Paytm All-in-One Android POS, Soundbox, Paytm for Business app for over 17 million merchants who have embraced and endorsed its services. The company has created robust technology infrastructure across 99 percent pin-codes with reach spreading across the farthest corners of the country. It has been the main driving force behind building and expanding digital villages and now empowers over 6 lakh villages in India with digital payments. It has trained over 20 lakh merchants in these villages helping in the proliferation of online transactions. Through these initiatives, the company continues to be one of the key contributors of Atmanirbhar Digital Bharat.

Aiming to empower users with financial services, the company has ventured into several new avenues such as Paytm Payments Bank, Paytm Money for democratizing wealth creation, Paytm Insurance, Paytm Postpaid, Paytm Credit Cards and other lending products to help millions of merchants, self-employed individuals, as well as citizens at large. The company has successfully led the digital journey of millions of Indians and guided them through the process of making online transactions to availing all banking financial services on the app. Over 50% of merchant partners hold an account Paytm Payments Bank and benefit from its new-age digital banking services. Similarly, Paytm Money has become the leading driver of wealth creation in the country with over 50 percent of its users being ‘new to wealth management services’. They are availing investment products including mutual funds, stocks, IPO, F&O, ETF & digital gold on the platform. Another popular service is Paytm Postpaid, which provides micro-credit and has already achieved over 7 million users within 6 months of launch.

Most importantly, Paytm’s initiatives for offline businesses have helped in building trust in digital payments among the masses and have made it the most important payment service in smaller cities & towns including Panipat, Kanpur, Nashik, Madurai, Baroda, Mysore among others.

Narendra Yadav, Vice President – Paytm said, “We are humbled by the trust India has shown in us & made Paytm their preferred digital payments & financial service provider. We have consistently maintained industry-leading market share & growing at an impressive rate. We have been promoting all digital payment methods giving multiple-choices to consumers that have helped us in consolidating our leadership position. In fact, a large percentage of our users who started their digital journey with Paytm, have now adopted & embraced our financial services. We introduced the country to innovative QR technology that empowered millions of small shopkeepers with digital payments. By incorporating technological advancements we have now brought in the next wave of digital payments revolution with our Paytm All-in-One Android POS devices & Soundbox. Street hawkers, small shopkeepers have been adopting our Soundbox that has helped in building trust over digital payments as now they get confirmation on every payment they get.”

Paytm, which has over 150 million monthly active users has witnessed that the majority of its account holders embrace & adopt banking, lending, insurance, wealth & other financial services on the platform. Its digital financial services have made deep inroads into the grassroots of the country and have been adopted by millions of Indians in small-town & rural India.

Business World, News

Paytm empowers tenants with Rent Payments through credit cards, announces a Rs 1000 cashback

Feb 9, 2021 by Rekha Nair 0 Comments #Narendra Yadav, #Vice President - Paytm

Mumbai: India’s leading digital financial services platform Paytm has today announced the expansion of its Rent Payments feature. Now, the tenants can also transfer their monthly rent instantly to the bank account of their landlords through their credit cards. The company has also announced a cashback of up to ₹1000 on such transactions. Besides earning cashback on every transaction, users will also be able to accumulate credit card points.

For paying to the landlord, the user simply needs to select “Rent Payment” from the “Recharge & Pay Bills” section on Paytm Home Screen. Users can transfer money directly from the credit card to the landlord’s bank account. Paytm also gives the flexibility to make rent payments through other payment modes such as UPI, Debit Card, Net Banking. To make it hassle-free, the user only has to enter the landlord’s bank account details and nothing more. The innovative dashboard also helps to track all rent payments, reminds about payment due dates and sends instant payment confirmation to landlords.

Narendra Yadav, Vice President – Paytm said, “House rent is one the highest recurring expenses for tenants in our country. Within few months of the launch, our Rent Payment feature is already enabling millions of users to maintain liquidity in these uncertain times and pay the rent as per their credit card cycle. With the expansion of this service, Paytm will continue its market leadership in rent payments and we are expecting to process rents worth Rs. 300 crores by March ’21.

The company is committed to making all recurring payments such as utility bills, credit card bills, etc. hassle-free for users across the country. Soon, payments through credit cards will be enabled for other recurring expenses such as tuition fees, house-help’s salary, etc.

Business World

Paytm becomes India’s largest platform for booking LPG cylinders

Nov 20, 2020 by Gouri Achary 0 Comments #Book a Cylinder, #HP Gas, #LPG cylinder booking, #Narendra Yadav, #Paytm

India’s home-grown digital financial services platform Paytm has become the largest enabler of LPG cylinder bookings in the country. The company today announced that within a year of launching this service, it has registered over 5 million bookings.

Paytm started ‘Book a Cylinder’ facility last year by partnering with HP Gas, followed by Indian Oil’s Indane. The tie-up with Bharat Gas was announced in May this year. The platform is witnessing a high number of repeat customers, because of its hassle-free & simple booking process. All that a user needs to do is go to ‘Book a Cylinder’ tab, select his gas provider, enter LPG ID/mobile no./consumer no. and then make the payment. The cylinder is delivered to the registered address by the nearest gas agency.

Narendra Yadav, Vice President at Paytm said, “LPG cylinder is one of the largest utility categories in the country, covering all socio-economic classes & geographical regions. This is a high-priority category for us and one of the key drivers towards achieving our goal of digitization of all essential services. We are working to cross the benchmark of 10 million bookings by the end of this financial year.”

Utility payments have been a major focus area for Paytm, where it is a market leader in several categories such as electricity, piped gas, water, etc. The company is ramping up its partnerships across the board to provide a comprehensive list of all service providers across the country.