Tag: Paytm

News

Samsung Partners with Paytm to Bring Travel and Entertainment Services to Samsung Wallet in India

Jun 20, 2024 by Mansi Praharaj 0 Comments #Bring Travel, #Madhur Chaturvedi, #Paytm, #Samsung

BENGALURU, India – June 20, 2024 – Samsung, India’s largest consumer electronics brand, today launched flight, bus, movies and events ticket bookings on Samsung Wallet, in partnership with One97 Communications Limited that owns the Paytm brand, India’s leading payments and financial services distribution company. The partnership aims to enhance consumers’ convenience by offering a seamless and integrated booking experience directly through the Samsung Wallet, facilitating access to a wide range of services through Paytm.

With this partnership, Galaxy smartphone users will now have seamless access to Paytm’s suite of services, including flights and bus bookings, movie ticket purchases, and event bookings, all integrated within the Samsung Wallet.

Galaxy smartphone users using the Paytm app for flight, bus and movie bookings and the Paytm Insider app for event bookings, will be able to add their tickets directly to Samsung Wallet using the ‘Add to Samsung Wallet’ functionality. This will enable them convenient access to enter airports, bus terminals, cinema halls, event venues, etc. Samsung India and Paytm will shortly introduce exciting discount offers of up to INR 1150 on first bookings across the newly launched services.

As the Paytm app is the go-to destination for travel and event bookings for Indians, its partnership with Samsung opens new avenues for users to access its services, in line with its efforts to drive further convenience.

Samsung India’s partnership with Paytm reaffirms Samsung’s commitment to providing seamless and innovative solutions that enhance user convenience through Samsung Wallet, an easy-to-use, secure platform that holds everything a user’s digital life needs.

“Samsung Wallet is a popular mobile tap & pay solution in India, constantly evolving since its launch in 2017. We are delighted to launch new features on Samsung Wallet in collaboration with Paytm. These features allow Galaxy smartphone users to easily purchase bus and airline tickets, as well as movie and event tickets, without needing to switch between multiple apps. Furthermore, users can access these tickets simply by swiping up on their Galaxy smartphone’s home screen,” said Madhur Chaturvedi, Senior Director, MX Business, Samsung India.

“As pioneers of mobile payments, we are excited to partner with the consumer electronics giant Samsung India, as part of our constant endeavor to provide convenience and ensure superior user experience to Indians. By combining Samsung’s cutting-edge technology with Paytm’s wide-ranging services, we are making it easier than ever for consumers to manage their bookings and payments through a single unified platform,” Paytm Spokesperson said.

Business

Paytm Focuses on UPI Lite Wallet for Everyday Payments: No PIN Required

May 13, 2024 by Sujata Muguda 0 Comments #No PIN Required, #Paytm, #pioneer of QR, #UPI Lite Wallet

company and the pioneer of QR, soundbox, and mobile payments, is now focusing on UPI Lite wallet to move the users who prefer wallet for low-value everyday payments. Paytm UPI Lite acts as an on-device wallet, allowing users to store funds and make payments on the go. It offers lightning-fast payments that never fail with no pin requirement.

UPI Lite

Paytm’s UPI Lite wallet is designed for fast, secure, and reliable payments, allowing users to make instant, fail-proof transactions of up to ₹500 each. This service is especially useful for those who frequently handle small payments like buying groceries, paying for parking, or settling daily commute fares. It also keeps the bank statement clutter-free with only a single entry, regardless of the number of payments made, which is a significant convenience for users who prefer a clean financial overview. Moreover, users have the flexibility to add up to ₹2,000 to their wallet twice a day, reaching a total daily capacity of ₹4,000. This streamlined approach helps users manage their small daily expenses efficiently, without the hassle of multiple entries in their bank passbooks, with no pin requirement, ensuring an organized and simplified financial tracking.

Here are steps to enable UPI Lite payments on Paytm app

  • Go to Paytm app, and click on ‘UPI Lite Activate’ icon on the homepage
  • Choose the bank account that you want to use with UPI Lite
  • Enter the amount you wish to add to UPI Lite to start the payments
  • Validate the MPIN to create your UPI Lite account
  • Your UPI Lite account is setup for easy, one-tap payments

Further, to make payments using UPI Lite wallet, simply scan any UPI QR code or enter the mobile number or choose one from the contacts list. The collaboration between One97 Communications Limited (OCL) and leading Payment System Providers (PSPs) such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank ensures a robust and reliable framework for your UPI transactions, facilitating seamless and uninterrupted payment experiences.

Paytm spokesperson said, “We see the wallet as an essential payment tool that lets users keep money for everyday use and make quick payments on the go. Paytm UPI Lite improves this experience, allowing for faster transactions at local stores, street vendors, and for regular purchases while keeping bank statements clear. We are committed to grow the UPI ecosystem in partnership with NPCI to every nook and corner of India.”

Business

Paytm Soundbox’s superior product offering gives it a competitive edge

Jan 30, 2024 by Sujata Muguda 0 Comments #Paytm, #Paytm Soundbox, #Vijay

Paytm, a pioneer in mobile payments in India, continues its growth trajectory in Q3FY24, driven by sustained growth in Gross Merchandise Value (GMV), increased device adoption, and the expansion of its financial services business. The festive seasons in the December quarter contributed to this upward momentum.

During the earnings call with analysts, the management highlighted key achievements, including leadership in the Soundbox category, consistent EBITDA growth, and significant progress in high-ticket loans. Founder, CEO & MD, Vijay Shekhar Sharma, shared insights gained from speaking with merchants who consider Paytm Soundbox superior, citing early settlements, product excellence, and a reasonable cost as differentiators.

“I was in Ahmedabad, on the roads trying to learn where Paytm Soundboxes are being used and why, the shopkeeper literally went on to say ‘I use it because it works better than other Soundboxes’. I did say what if the other guys give you for free, will you still continue. The guy said this works better as my settlements come early, my product is superior, cost is not so much at 100 bucks. Here I believe the nuances of the product like for example we do settlement before 6am, our target is that before the day starts it should happen. And the guy himself told that the other settlements come around 8am or 9am or 10am and that is where the cash doesn’t show up. Then the notification speed, success, surety, bluetooth are actually differentiators,” said Vijay.

As of the December quarter, the number of merchants subscribing to Paytm’s payment devices surpassed one crore, reaching 1.06 crore, indicating a YoY increase of 49 lakh.

Bhavesh Gupta, President and COO, also discussed the tracking of device deactivations and efforts to understand the reasons, emphasizing the importance of addressing service issues and competitor challenges.

In Q3FY24, Paytm reported a 38% YoY growth in revenue from operations, amounting to ₹2,850 crore, and EBITDA before ESOP increased to ₹219 crore compared to ₹153 crore in Q2FY24 (excluding UPI incentives). The company’s Profit After Tax (PAT) improved by ₹170 crore YoY to (₹222 crore).

Madhur Deora, President and Group CFO, highlighted the consistent improvement in EBITDA before ESOP over the last 6-7 quarters since achieving break-even profitability. He expressed confidence in continued EBITDA improvement, driven by strong momentum and operating leverage.

Within the financial services segment, Paytm sees significant opportunities in the high-ticket loan business. Madhur shared positive trends in merchant loans and personal loans, emphasizing excitement about the business. On Postpaid, the management said that it has low contribution and minimal impact on the bottom line and have got various products to offset the reduction in postpaid.

Overall, Paytm remains at the forefront of industry leadership, with a focus on sustained growth, innovative offerings, and operational efficiency.

Paytm
Business

Paytm brings exciting discounts on domestic and international flights, train and bus bookings — launches Travel Festival sale that is live on June 15 and 16

Jun 16, 2022 by Agency 0 Comments #bus, #domestic, #exciting discounts, #international flights, #Paytm, #train

One97 Communications Limited that owns the brand Paytm, India’s leading digital payments and financial services company, today announced the ‘Paytm Travel Festival’ an online sale, with discounts on domestic and international flight, train and bus tickets from June 15th to June 16th, 2022. The festival aims to give users the convenience of seamless ticketing with the best deals on the Paytm app.

With the Paytm Travel Festival sale, users can avail a 15% discount on domestic flight bookings and 10% off on international flights bookings on the Paytm app with credit card and EMI transactions through ICICI Bank and Bank of Baroda. RBL Bank users can avail the offer through debit card transactions as well. Additionally, users can get a 20% instant discount on bus ticket bookings, while train tickets can be booked at zero payment gateway (PG) charges via UPI on the app.

Paytm Spokesperson said, “We strive to offer convenience to users with our seamless ticketing services and offer the best deals. We are excited to announce India’s biggest travel sale with massive discounts across flight, train and bus tickets.”

With flight ticketing on the Paytm app, users enjoy a fully seamless payment experience with insurance booking options, convenient cancellation support, and more. Moreover, students, armed forces and senior citizens can avail special fares on flight ticket bookings.

The company is also an authorized partner for IRCTC, offering users easy train ticket booking facility in more than 10 languages. Users can also access a pool of benefits — from checking PNR, customer support and also avail Paytm Postpaid (Buy Now, Pay Later feature) to book train tickets now and pay later. Additionally, users can book bus tickets through the Paytm app for over 2,500 bus operators and get assured offers and cashbacks.

Paytm also allows users to book event tickets and metro tickets on its app. The company offers flexibility of payments as users can easily pay for such bookings through a host of Paytm payment instruments such as Paytm Wallet, Paytm UPI, Paytm Postpaid (Buy Now, Pay Later), netbanking and debit & credit cards.

Paytm
Business

Paytm maintains strong growth momentum during Q3 of Fiscal 2022

Dec 14, 2021 by Gouri Achary 0 Comments #Paytm, #paytm Q3 of Fiscal 2022

Paytm maintains strong growth momentum during Q3 of Fiscal 2022

· 2.7 million loan disbursals through its platform (y-o-y up 414%),

· Rs. 13.2 billion ($178 million) of loan disbursal value (y-o-y up 375%),

· 0.3 million merchant devices (deployed base up by 1.1 million y-o-y), and

· 129% y-o-y growth in GMV and 36% y-o-y growth in MTU

· In Q2, Paytm’s revenue from operations achieved steady growth to ₹10,896 million, an increase of 64% year-on-year. Contribution profit surges to ₹2,605 million, an increase of 586% over the previous year and Monthly Transacting Users grew by 33% year-on-year to 57.4 million

MSDE- Paytm Partnership
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.”

#GetShotGo
Business, Health, News

Paytm #GetShotGo campaign video garners over 1 billion views, encourages users to get vaccinated

Jul 9, 2021 by Rekha Nair 0 Comments ##GetShotGo, #Abhinav Kumar, #Paytm, #Vice President Marketing

Mumbai: India’s leading digital financial services platform Paytm has taken several steps to spread awareness about the importance of getting vaccinated during the ongoing pandemic. The company’s recently launched #GetShotGo anthem has gone viral, with the participation of over 20,000 influencers and over 3 million users. The dance challenge on MX TakaTak and other social media platforms has garnered over 1 billion views and is currently the most trending video. The company is helping users book their slots through the Vaccine Finder on the Paytm App.

To create awareness about vaccination, Paytm has taken the #GetShotGo campaign to various platforms including social media portals as well as print ads in leading newspapers across different regions.

Paytm came up with the #GetShotGo anthem, which is peppy, vibrant, different, impacting to encourage the masses to get vaccinated and it has found resonance with the youth. To ensure the message reaches everyone across India, the anthem has been launched in several regional languages and is further gaining popularity among social media users in various states. The anthem has become quite popular on social media platforms and has been liked, shared, and reshared several million times.

The company said that over the last several weeks Paytm users have booked vaccination slots via the Paytm app. It had earlier launched advanced filtering options for its Vaccine Finder that help the user generate personalised leads including information such as the type of vaccine available and the fee charged for it.

The Vaccine Finder is of the many services that Paytm has started as part of its Covid-19 relief measures. Under its #OxygenForLife initiative, Paytm Foundation has donated Oxygen concentrators and Oxygen Plants to government hospitals and nonprofits across the country.

Abhinav Kumar, Vice President – Marketing, Paytm said, “All our efforts and initiatives are aimed at ensuring that we help citizens fight the pandemic with all our might. Getting vaccinated is extremely important to ensure that we come out of this stronger. This initiative helps create awareness around the importance of vaccination & educates people about how simple & seamless it actually is to book a vaccine slot on Paytm App. The anthem is inspired by people’s love for music and it holds the power to reach the people in a way that is engaging, entertaining, and impacting.”

Paytm
Business World

Paytm to set up Oxygen Plants for long-term sustainable supply across India

May 4, 2021 by Neel Achary 0 Comments #Paytm

Mumbai, 4th May 2021: India’s leading digital financial services platform Paytm today announced that Paytm Foundation will be setting up oxygen plants in 12-13 cities as hospitals across pan-India face oxygen shortage amid the tumultuous second Covid-19 wave. These oxygen plants would be directly installed at hospitals, which would serve the oxygen needs for the entire hospital. Paytm Foundation has also sourced over 21,000 Oxygen Concentrators that would be sent to government hospitals, COVID care facilities, private hospitals, nursing homes as well as Resident Welfare Associations in the mid of May.

Oxygen plants are devices that render possible the production of medical oxygen from ambient air while simultaneously supplying the gas to multiple beds. The company has currently raised Rs 10 crore from people across the country under its #OxygenForIndia initiative and has mirrored the donation amount making it a total contribution of Rs 20 Crore. Paytm is working in conjunction with other prominent organisations including Elevation Capital and the American Indian Foundation. The donation garnered under the initiative will be used to purchase Oxygen Concentrators and oxygen plants, costing between 50 lakh to 1 Crore each.

Paytm is currently between dialogues with the State Governments and hospitals for affirmation and approval to set up these oxygen plants; once purchased, the oxygen plants will be provided free of cost to Government hospitals by Paytm Foundation.

Paytm spokesperson said, “Before economic growth, we need to think about the sustainability of our human forces, the people. While Oxygen Concentrators are good for short-term support, we figured out that oxygen plants could provide our healthcare system with larger support. Hence, we decided to direct our donations to build oxygen plants at government hospitals for free. We are overwhelmed at the collective effort and support citizens of the country have shown to help pacify the ordeal caused by the pandemic’s 2nd wave. We are optimistic that with the right resources and empathy for our fellow countrymen, we will not only survive this crisis but also come out stronger.”

With aim of saving a maximum number of lives, the Paytm Foundation is also supporting other start-ups, organisations and enterprises to source OCs from the international market. This will help to minimize the timeline for logistical requirements while ensuring that hospitals & other COVID care centres receive the much needed OCs sooner. The entire sourcing, regulatory approvals, and delivery will be managed by the foundation, while the other organizations only need to pay for the cost of the OCs that they will order.

Paytm to airlift 21,000 Oxygen Concentrators under its #OxygenForIndia initiative
Business World, Health, News

Paytm to airlift 21,000 Oxygen Concentrators under its #OxygenForIndia initiative…

Apr 29, 2021 by Rekha Nair 0 Comments #Oxygen Concentrators (OCs), #Paytm

Mumbai: India’s leading digital financial services platform Paytm today announced that under the #OxygenForIndia initiative, it is set to airlift 21,000 Oxygen Concentrators (OCs) which is expected to reach India in the first week of May. These devices would be immediately sent to government hospitals, COVID care facilities, private hospitals, nursing homes as well as Resident Welfare Associations. The company has already raised Rs 5 crore from citizens for the initiative and has matched rupee for rupee making it Rs. 10 Crore. Encouraged by the overwhelming support and contribution from people across the country, it is now aiming to raise over Rs 14 crore to source over 3,000 OCs over the next few days.

With aim of saving a maximum number of lives, the Paytm Foundation is also supporting other start-ups, organisations and enterprises to source OCs from the international market. This will help to minimize the timeline for logistical requirements while ensuring that hospitals & other COVID care centres receive the much needed OCs sooner. The entire sourcing, regulatory approvals, and delivery will be managed by the foundation, while the other organizations only need to pay for the cost of the OCs that they will order.

Paytm spokesperson said, “We would like to thank each and every citizen who acted selflessly and contributed to the noble cause of solving India’s oxygen crisis. We look forward to winning this battle in collaboration with various organisations and foundations to jointly source as many OCs to provide immediate aid to our country.”

He further said, “Paytm Foundation has already placed an order for importing 21,000 OCs to provide immediate relief. Our founder Vijay Shekhar Sharma is leading a dedicated team with medical expertise to push forward and streamline companywide Covid relief measures.”

Vijay Shekhar Sharma, Founder & CEO, Paytm
Business World

Paytm aims at raising Rs 10 crores to acquire 3,000 Oxygen Concentrators to fight shortage

Apr 27, 2021 by Neel Achary 0 Comments #Founder & CEO, #Paytm, #Vijay Shekhar Sharma

Mumbai, 27th April 2021: India’s leading digital financial services platform Paytm today announced that Paytm Foundation that aims to support citizens in their hour of need will acquire & import over 3,000 Oxygen Concentrators (OCs) to fight Covid-19 and the ongoing oxygen shortage in the country. It has launched a nationwide ‘Oxygen for India’ initiative to create more awareness about the issue. While Paytm Foundation has already placed an order for importing 1,000 Oxygen Concentrators worth Rs 4 crore, it is aiming to further raise over Rs 10 crore. The company is encouraging citizens to join the cause by pledging to match every rupee contribution by users. It has raised over Rs 1.5 crore within hours of starting the campaign, and with Paytm’s contribution of matching the amount, the total amount raised by Paytm Foundation has reached over 3 crores.

The country is going through an unprecedented oxygen crisis and needs all kinds of oxygen support including large oxygen tankers, oxygen cylinders as well as Oxygen Concentrators that can produce oxygen locally. Realising that the country does not have an adequate supply of OCs, the foundation decided to swing into action and search globally for these devices. With aim of saving a maximum number of lives, the foundation is working on tie-ups with sourcing partners to import over 30,000 OCs to India in due course.

Paytm has started this initiative and will bring in OCs from abroad at war footing. It is also reaching out to like-minded startups to join in the initiative and place orders for OCs along with the foundation to bulk up orders. The company hopes that people will contribute wholeheartedly, which it will match rupee for rupee & raise over Rs. 10 crore in a short period of time.

The company will collect demand requests from hospitals for oxygen concentrators on the Paytm app itself. It will give first preference to government hospitals, then private, smaller clinics, and finally Resident Welfare Associations (RWAs). The list will be available to the public view to maintain maximum transparency and accountability. The service will be available on a first-come-first-serve basis or need-based in case of emergency. Hospitals will have to furnish details of requirements, address, as well as the name of the coordinator.

Vijay Shekhar Sharma, Founder & CEO, Paytm said, “India is going through an unprecedented oxygen crisis right now and there are all kinds of oxygen support needed, large oxygen tankers, oxygen cylinders & then something that can produce oxygen locally which is oxygen concentrators. I also call upon other startups, businesses to join us and match rupee to rupee contribution to double the supply of oxygen concentrators. It will be a great support for India in the present oxygen crisis. I am sure by pooling in our resources we will be able to fight this crisis and come out stronger.”

Since the start of the pandemic, Paytm has taken several initiatives to support India’s fight against the spread of COVID-19. Last year, it raised hundreds of crores for the PM-Care fund with support from citizens and also distributed over 10 million hygiene kits to frontline workers and Covid warriors. It fed over 20 million meals to migrant workers going back home to their loved ones. It also worked dedicatedly to revamp the Paytm app UI with a ‘Stay at home Essential payments’ section to include Mobile & DTH Recharge, electricity, water, gas, credit card & insurance premium payment among others.