The process of fund raising would start in January to March quarter of 2018, he said, adding that the company has already seen investor interest coming from various geographies.
Paytm has introduced payments using BHIM UPI on its platform and the feature will also be offered to its merchant partners.
Paytm has launched ‘Inbox’ which is its new chatting feature, where users can text their friends, family from within the app as well as request and send money
Paytm Payments Bank, which was incorporated in August 2016, formally began its operations from May this year.
Paytm Mall has announced the ‘Mera Cashback Sale’ from September 20 to September 23. Apple iPhone 7 Plus, iPhone 7, iPhone 6 all have cashback offer on them.
Lenovo and Intel have partnered with Paytm Mall to sell laptops across online and offline channels. Additionally, Lenovo Brand Store has made a debut on Paytm Mall. Lenovo Ideapad 110 will be available for Rs 23,990 with offers worth the same amount.
Payments banks are niche banks that were allowed by the Reserve Bank of India in a bid to expand access to financial services in Asia’s third-largest economy where millions don’t have a bank account.
Paytm Mall has kicked off Independence Day sale, and it will be live till August 15. The e-commerce site is giving up to 80 per cent off on products plus up to Rs 20,000 cashback. Users can shop for Rs 1,499 to stand a chance to win Apple iPhone 7.
Paytm’s new feature for payments from phonebook: To use this feature, open the Contacts list on your smartphone, select a contact, tap on ‘Send Money’ and enter the desired amount to instantly send money.
Alibaba-backed Paytm is now looking to diversify into messaging services. Having received a large user base following the demonetisation of November 2016, its latest offering will directly compete with WhatsApp, India’s most popular messaging service.
In the sharing economy, the discomfort around splitting bills is much less
Paytm founder and CEO Vijay Shekhar Sharma has paid a ‘substantial’ advance and signed an MoU to purchase real estate in one of the country’s most expensive residential areas, Golf Links in Lutyens, New Delhi.
All Paytm wallet accounts will be migrated to Paytm Payments Bank, if you do not opt out.
Paytm is the third entity in the country to launch a payments bank after Airtel and India Post.
The company has appointed Renu Satti as the CEO of Paytm Payments Bank. Satti currently is the vice-president of business at Paytm.