Paytm

Paytm secures license it needed to survive

India’s Paytm has secured a vital license it needed to survive and maintain continuity of several core features of its eponymous payments app, a day before the firm’s banking unit is sched

Paytm Payments Bank founder Vijay Shekhar Sharma resigns from board

Vijay Shekhar Sharma, founder and majority owner of Paytm Payments Bank, has stepped down from the board of the troubled unit days after the Indian regulator signaled continuity at the financial firm

Google Pay takes its QR soundbox to small merchants in India after trial run

Google said Thursday it plans to roll out the SoundPod, its portable speaker designed to instantly validate and announce successful payments, to small merchants across India over the coming months. Th

Paytm wallet and FASTag products will cease to exist, Bernstein says

India’s central bank has extended the deadline for some business restrictions on Paytm’s Payments Bank to March 15 in “larger public interest,” dashing hopes of any major conce

India stumped on how to cut PhonePe and Google dominance in payments

India is facing a quandary in enforcing long-delayed rules to curb the dominance of PhonePe and Google Pay in the country’s ubiquitous UPI payments network, which processes over 10 billion trans

Macquarie cuts Paytm target on ‘serious risk of exodus of customers’

Macquarie dramatically cut its 12-month price target on One97 Communications, the parent company of digital payments firm Paytm, citing risks of customers leaving the platform in the wake of heighten

Indian parliamentary panel red-flags PhonePe and Google Pay cornering 83% of India’s UPI payments

An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently

Indian central bank defends ‘proportionate’ action on Paytm

India’s central bank said Thursday it takes supervisory actions and imposes business restrictions only after “persistent non-compliance” with rules, its first comment after a clampdo

Jio Financial says not in talks to acquire Paytm’s wallet business

Reliance Industries spinoff Jio Financial Services said Monday evening that it is not negotiating with Paytm to acquire its wallet business, quashing “speculative” media reports as the Noi

India’s Paytm is in flux

Shares of Paytm plunged 10% on Monday, the third consecutive session of declines, touching an all-time low of 438.35 Indian rupees (or $5.28) after the RBI’s clampdown last week looks to have ha

Indian central bank’s clampdown wipes $2.1 billion off Paytm

Shares of Paytm fell another 20% Friday before hitting the lower circuit that temporarily halts trading as the Indian financial services firm reels from the clampdown by the central bank. Paytm fell t

India weighs more penalties on Paytm, including revoking payments bank license

The Reserve Bank of India (RBI) is discussing more penalties on Paytm Payments Bank and may reach a decision within days, two sources familiar with the matter told TechCrunch, as troubles mount for th

Paytm to terminate business with Paytm Payments Bank after central bank’s clampdown

Paytm said Thursday that it will cease work with its associate Paytm Payments Bank and accelerate plans to partner with other banks, after India’s central bank barred Paytm Payments Bank from co

India orders Paytm Payments Bank to halt business

The Reserve Bank of India (RBI) widened its curbs on Paytm’s Payments Bank, which processes transactions for financial services giant Paytm, barring it from offering many banking services, inclu

Peak XV-backed MobiKwik seeks to raise $84 million in India IPO

Indian financial services startup MobiKwik seeks to raise about $84.2 million through issue of new shares in an initial public offering in the home market, it said in a draft prospectus filed with the

India’s Paytm slides 20% on curbing low-value personal loans

Paytm dropped 20% on Thursday before recovering slightly after the Indian financial services firm announced plans to issue fewer personal loans under 50,000 Indian rupees ($600), a move that has alrea

Warren Buffett’s Berkshire Hathaway exits Paytm at a 40% loss

Berkshire Hathaway exited Paytm-parent firm One97 Communications Friday at a loss of about 40% on the high-profile investment it made more than five years ago. The Warren Buffett firm invested about $

Mastercard CFO says India’s UPI ‘incredibly painful experience’ for ecosystem participants

India’s UPI is “fantastic at many levels” but remains an “incredibly painful experience” for ecosystem participants, Mastercard’s CFO said at a recent conference, u

Indian fintechs amplify payments soundbox pitches to woo merchants

Some of India’s biggest fintech startups are making deeper inroads into soundboxes, unveiling a new push to the pocket-sized devices whose chimes are fast becoming the new “ka-ching”

PhonePe dives into stock and mutual fund arena

India’s PhonePe is getting into stock and mutual fund investment, the latest in a series of expansions by the Walmart-backed payments app as it looks to leverage its 450 million-plus user base t
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