Investor advisory firm recommends voting against key Paytm resolutions

One 97 Communications, the parent Company of Paytm is scheduled to hold it’s AGM on August 19, 2022. Ahead of the meeting, Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has advised shareholders of One 97 to vote against some key proposed resolutions. Reappointment of Vijay Shekhar Sharma (VSS) as the MD – … Read more

Paytm commits to become operating breakeven by September 2023

In it’s quarterly operating performance update for March 2022 quarter, Paytm founder Vijay Shekha Sharma (VSS) has informed the following – Paytm should be Operating EBITDA (before ESOP cost) break-even in the next 6 quarters i.e., by September 30, 2023. During December 2021 quarter, Paytm had reported EBITDA (before ESOP cost) loss of Rs 393 … Read more

‘Paytm got customers by way of cashbacks, not by rendering services’

Veteran banker Aditya Puri on Tuesday raised questions about Paytm’s business model, saying the recently listed financial services company has earned customers not by rendering services but by way of cashbacks.   Puri, who led HDFC Bank from inception and made it into the largest in the private sector space by the time he retired … Read more

RBI stops Paytm Payments Bank from onboarding new customers

Paytm Payments Bank (PPB) is a joint venture between Paytm founder Vijay Shekhar Sharma and the listed holding company One97 Communications, the parent of Paytm. Sharma owns 51% in the bank in his personal capacity. It had started operations in 2017 and claims to have 60 million bank accounts with 4 lakh users added every … Read more

Paytm to launch FASTag-based parking service across India, after DMRC facility

Digital payment and financial services firm Paytm plans to enable FASTag-based parking services across the country, after launching its first with the Delhi Metro Rail Corporation (DMRC). Paytm Payments Bank Ltd (PPBL) on Monday said it has enabled the country’s first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC). “This … Read more

HDFC Bank and Paytm tie up to leverage on each other’s strengths

2017 – “payment wallets like Paytm have no future” – Aditya Puri 2021 – HDFC and Paytm tie-up to leverage on each other’s strengths. Times change and so do the business compulsions ! It’s a very interesting arrangement and has the potential to lay roadmap for similar other tie-ups in future. Why is it so? … Read more

Paytm, HDFC Bank tie up to develop payment products for new online ventures

IPO-bound digital payments firm Paytm and India’s largest private sector bank, HDFC Bank, announced a strategic partnership to build comprehensive solutions across payment gateway, point of sale machines and credit products including Paytm Postpaid which is Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay.   The partnership will aim to empower new … Read more

Paytm cut marketing spend more than the competition: Bernstein report

Paytm, whose initial public offering is expected later this year, has cut down its marketing spend as it focuses on building revenue, and competes with PhonePe and Google Pay in the super application (app) space, according to a Bernstein report.   “Within the UPI (unified payments interface) super-apps, PhonePe leads the pack on overall UPI … Read more

Paytm takes the challenge to Google, launches its own mini app store

Paytm has taken the challenge to Google’s Play Store by launching its Android Mini App Store, through which it seeks to help developers take their applications to the masses. This is the start-up’s latest move to break Google’s monopoly over distribution of Android applications. Paytm is providing listing and distribution of these mini apps from … Read more