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One97 Communications News
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The NPCI nod is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app.
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Marshall Wace, through its arm Marshall Wace Investment Strategies - Eureka Fund, offloaded shares of One97 Communications, owner of Paytm brand, and Shriram Finance Ltd through separate block deals on the National Stock Exchange (NSE).
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Both Paytm and Zomato have issued clarification to the stock exchanges regarding media speculations on acquisition biz.
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The revenue from operations of Paytm declined 2.8 per cent to Rs 2,267.1 during the reported quarter from Rs 2,464.6 crore in the corresponding quarter of the financial year 2023.
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Paytm asserted that it acts as a distributor of loans, and does not provide a First Loss Default Guarantee (FLDG) or other loan guarantees to lending partners.
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Sharma, in his resignation letter mentioned his intention to explore "other opportunities" following his departure from the company.
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In an exchange filing, OCL revealed that the transition to Axis Bank aims to ensure continuity and seamless settlements for merchants.
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The central bank, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.
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Vijay Shekhar Sharma's Inspirational Journey from Humble Beginnings to Fintech Giant
From Aligarh to Billionaire: Vijay Shekhar Sharma's Roots
Overcoming Language Barriers: Vijay Shekhar Sharma's Academic Journey
Entrepreneurial Aspirations Awakened
From Dot-Com to Digital Domination
The Birth of Paytm
One97 Communications
E-Wallet Revolution in India
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The stock of Paytm's parent firm zoomed 11.57 per cent to Rs 887.55 on the BSE.
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With a robust architecture, Paytm's revamped platform will further power superfast, secure and seamless payments.
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The company also saw EBITDA (before ESOP) reduce to Rs 275 crore.
Paytm`s payments services revenue grew by 69 per cent Y-o-Y (3 per cent Q-o-Q).
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The scrip of the Digital payments company tumbled 12.2%, extending its slump amid mounting regulatory woes and a decision by investor SoftBank`s representatives to leave the company`s board.
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The company's market valuation also plunged by Rs 6,429.92 crore to Rs 43,798.08 crore on BSE.
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According to market analysts, concerns over valuation weighed on the stock.
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India's largest payments platform Paytm on Wednesday (January 8) announced the launch of its All-in-One QR for merchants across the country. This QR will enable merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI based payment apps directly into their bank account at zero per cent fee, said a Paytm statement.
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The bank is focused on driving financial inclusion by bringing half a billion Indians into the mainstream economy.
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Online shopping platform Paytm Mall is set to hire nearly 2,000 new personnel across various business and tech roles to effectively scale its operations.
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Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up.
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One97 Communications to replace PepsiCo as IPL sponsor.
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