Tag: Vice President – Paytm

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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. “

Paytm Payout Gift Wallet Cards & Digital Gold achieve Rs. 100 crore GMV as corporate gifting goes digital
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.

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

Saloni Malhotra, Vice President - Paytm
Business World

Paytm Payouts’ Enterprise Bill Payment System aims at Rs. 3,000 crores in transactions by the end of FY’21

Feb 8, 2021 by Neel Achary 0 Comments #Enterprise Bill Payment System, #Saloni Malhotra, #Vice President - Paytm

Mumbai: India’s homegrown digital financial services platform Paytm today announced that its Enterprise Bill Payment System (EBPS), part of Paytm Payouts is set to cross Rs. 3,000 crores in transactions by the end of FY’21. EBPS enables businesses to manage and pay all their utility bills generated across a large number of business locations on a single unified platform. With Paytm Payouts, businesses can make bulk payments to bank accounts, UPI addresses, Paytm Wallets, Gift Vouchers and other employee benefits like Food Allowance instantly. It provides 24*7 payment options to transfer any amount and hence benefits companies and their finance department to manage their cash flows better and all kinds of payables including rent payments, vendor invoices, customer cashbacks and refunds, channel partner incentives, utility bill payments or employee reimbursements.

EBPS is the only integrated utility bill management service for businesses in India, enabling companies to monitor all the bills of their shops, offices, and warehouses. It comes with a hassle-free reconciliation system and automatically fetches new bills as they are generated. It also provides custom reports based on business locations, which can be easily integrated with the enterprise resource planning and financial reporting systems of businesses. It also provides various other options including the capability to set up custom approval workflows to make approvals and follow-ups from various business departments easier and configure bill payment reminders or automatic payment instructions. Paytm Payouts is partnering with major companies in sectors including retail, banking, logistics, among others to expand the service.

Manual processing of bills leads to companies often ending up missing payments. Businesses also must keep a retinue of staff engaged in the payment and reconciliation of bills. EBPS enables businesses to cut down on their administrative costs, increase operational efficiency and save on the bill amounts by avoiding penalties and unlocking early payment discounts. EBPS empowers companies to save on their bill by unlocking remunerations from electricity providers in the form of reward schemes for early and timely payment. The service automatically calculates the amount users must pay as well as the amount of money they save. It enables swift payments by allowing users to easily filter bills depending on the business location, due dates, bill providers, etc. Companies can avail of the service by submitting their details on the Paytm for Business Enterprise Bill Payments website.

Saloni Malhotra, Vice President – Paytm said, “We aim to empower companies large and small with 360-degree solutions that help them run their businesses more efficiently. Instead of spending their time and effort on the exercise of managing bill payments, EBPS offers companies the chance to cut costs and focus on their business growth. We expect this service to process Rs. 3,000 crore worth of utility bills paid by companies in the current financial year.”

Paytm Payouts is driven by a powerful API that can be integrated with any platform, thereby eliminating the need for companies to invest time & resources to build their platform. Businesses can also deposit money directly from any bank account to process any payment. The feature-rich and simple to use service are enabling several companies to pay salaries, food allowances, incentives, rewards to housekeeping & other contractual staff.

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Business World

Paytm dominates merchant payments with a 50 per cent market share: RedSeer report

Aug 24, 2020 by Gouri Achary 0 Comments #Narendra Yadav, #RedSeer Consulting, #Vice President - Paytm

New Delhi, August 24, 2020:

India’s homegrown financial services platform Paytm has emerged as the leader in merchant payments with a 50 per cent market share, according to the findings of RedSeer Consulting, a Bangalore based consulting and research firm, which recently launched the report titled “Indian Mobile Payments – 5x growth by 2025”.

The report details how the current ~160Mn unique Mobile Payment users will multiply by 5x to reach nearly 800 Mn by 2025. Paytm according to this independent report has fared well over its peers as a leader in mobile wallets space, payments gateway, and the most well-received and popular Android-based POS devices.

According to the report, Paytm with its long legacy has a strong presence in ‘Bharat’ i.e. tier 3 & below with over 16 Mn merchants on its platform maintains a huge lead in wallet payments. RedSeer according to its findings said that Paytm currently is the market leader on the Payments to Merchants (P2M) side with over 50% market share. Its P2M consumers also shown the highest satisfaction leading with an NPS of 42%. The report also asserts Paytm’s conviction of continuing to improve its services and merchant experience as it plans to rapidly grow its merchant base.

RedSeer report states, “Paytm has the highest top of mind recall and unaided awareness among merchants followed by Phonepe and Google Pay also it is the most used app among the merchants. When asked from which payments app do you accept payments, over 68% of merchants cited Paytm.”It also finds Paytm as the leading Payment Gateway provider in the country. RedSeer has covered the Payment Enablers which include EDC as well as Payment Gateway Aggregators, as a part of this report. Both these markets are absolutely the key infrastructure enablers to ensure the overall mobile payments growth in this country, and therefore will see significant growth.

According to the report’s assessment, while other companies do solve a particular set of problems and help in digitizing payments, they do not have the vast universe like Paytm’s to bank on. The company with a 42 per cent market share is leading the pack as it has been able to bring in synergies from all its services and giving a powerful device that solves multiple problems for merchants. Paytm All-in-One Android POS is a highly customizable device that can be used in different sectors including events & entertainment, travel, parking management, logistics, bank account, and financial services. According to the survey, among all Android-based EDC players, merchants rate Paytm the highest on NPS.

RedSeer report stated, “The Payment gateway aggregator market in India currently stands at INR 9.5 Tn & is expected to grow by 2.4x driven by large value transactions. It is expected to grow at a CAGR of 19% in the next 5 years to reach INR 22.6 Tn by FY 25. The payment gateway market today is very competitive, and all leading players are fighting for the market share. Paytm leads this pack and has grown the fastest.”

Narendra Yadav, Vice President – Paytm said, “We are humbled by the observations made by RedSeer Consulting and their astute analysis of the fintech space in India. We thank them for recognising our efforts to make India and Bharat a digitally enabled Atmanirbhar economy. Paytm is on track to enable over half a billion people with digital financial services and providing banking facilities to the unbanked. Going forward we will bring out more innovations in the fintech space that will help transform India and possibly set new examples globally.”

In addition, the narrative also covers the path to profitability for the business models operating in this sector. It states that integrated play is significantly important for players. It states that standalone businesses will find it hard to sustain in the market due to limited monetization potential (specifically after MDR removal earlier this year on UPI), and lower customer retention. Driven by the same, most of the leading players have started going the integrated way. Paytm almost offers the entire suite of fintech B2C as well as B2B services under its ambit, which has placed it well on growth in terms of scale as well as unit economics. The company has also been successful in becoming the largest player in terms of consolidated revenue of Rs 3579 crores in FY 19.

Paytm has the most integrated payments provided in the market, offering a multitude of services through in house capabilities across the fintech ambit (Payments, Insurtech, Wealthtech, Lending, Payments Bank, Payment Gateway, EDC, eCommerce and more), placing it well to continue its sustainable growth in the future. The report highlights the fact that only an ‘Integrated financial services’ model is the way forward in their pursuit of profitability. Players such as Paytm have been quicker to adapt to this change and since long have been foraying into diversified services such as banking, Insure tech, wealth tech, e-commerce, payment gateways, and POS terminals.