Paytm

The NPCI plans to meet various fintech startups this month to develop a strategy to address the market dominance of PhonePe and Google Pay in the UPI ecosystem.

India scrambles to curb PhonePe and Google’s dominance in mobile payments

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…

Paytm secures license it needed to survive

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…

Paytm Payments Bank founder Vijay Shekhar Sharma resigns from board

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.…

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

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 concessions but allowing…

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

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…

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

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 heightened regulatory…

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

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

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 clampdown on Paytm last week has…

Indian central bank defends ‘proportionate’ action on Paytm

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 Noida-headquartered firm scrambles…

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

India’s Paytm is in flux

7:43 pm PST • February 4, 2024

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…

India’s Paytm is in flux

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.…

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

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…

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

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…

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

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, including accepting…

India orders Paytm Payments Bank to halt business

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…

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

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…

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

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…

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

Featured Article

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, underscoring tensions around the mobile payments rail that facilitates over 10 billion transactions monthly in the nation with low card penetration. When questioned about Mastercard’s prospects in emerging markets such as India,…

12:31 am PDT • October 11, 2023
Mastercard CFO says India’s UPI ‘incredibly painful experience’ for ecosystem participants

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” for millions…

Indian fintechs amplify payments soundbox pitches to woo merchants

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…

PhonePe dives into stock and mutual fund arena

India’s Paytm introduced the innovative sound box, a pocket-sized speaker designed to instantly validate and announce successful payments to merchants. It has deployed millions of these devices to the market,…

Reliance tests sound box payment system amid financial services push

Vijay Shekhar Sharma, founder and chief executive of Paytm, has entered into a deal with Ant Financial to acquire a 10.30% stake in the Indian financial services firm in a…

Ant Financial sells Paytm stake worth $628M to Vijay Shekhar Sharma in no-cash deal

The Internet and Mobile Association of India, an influential tech industry body, has appointed Dream Sports co-founder and chief executive Harsh Jain as the new chairperson of the association, bucking…

Top Indian tech advocacy group replaces Big Tech execs following criticism

Paytm, India’s leading mobile payments firm, reported a 13.2% surge in revenue to $285.7 million in the quarter ending March and pared its loss by 57% to $20.5 million in…

Paytm tops $977 million revenue in a year, narrows loss

Airtel is engaging with Paytm to explore sale of the Airtel Payments Bank business in exchange for shares in the younger financial services firm, according to two people familiar with…

Telecom giant Airtel eyes a stake in Paytm

PhonePe has raised another $100 million as part of an ongoing round, a deliberation that has now helped it pull $450 million in recent weeks despite the market downturn, as…

Tiger Global and Ribbit invest another $100 million in PhonePe

Indians traveling to many foreign markets, including the UAE and Singapore, may soon be able to use the popular UPI payments to make purchases when they land there. Bengaluru-headquartered fintech…

PhonePe taps cross-border UPI payments in revenue push

PhonePe clocked a revenue of $234.3 million in the first nine months of 2022, the most valuable Indian fintech startup has disclosed in a filing. The nine-month financials marks a…

Walmart-backed PhonePe’s nine-month 2022 revenue surged to $234 million

PhonePe’s valuation has more than doubled to over $12 billion in a new funding round as the Indian fintech giant readies for life without parent firm Flipkart. The Bengaluru-headquartered startup…

India’s PhonePe tops $12 billion valuation in new funding