Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall on Wednesday said it expects to facilitate sales worth $500 million during the festive season through its platform. Like its rivals Amazon India and Flipkart, Paytm Mall is also offering a sale on its platform between September 20-23. “We are well on our way to achieve half a billion dollar of sales this festive season. We are giving a number of offers and discounts to consumers during the festive season,” Paytm Mall Chief Operating Officer Amit Sinha told PTI. Early this year, Alibaba-backed Paytm had spun off Paytm Mall…

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Paytm Payments Bank Launched: Cashback on Deposits, ATM Withdrawal Limits, and Other Details

Paytm Payments Bank Launched: Cashback on Deposits, ATM Withdrawal Limits, and Other Details

Paytm has launched the Paytm Payments Bank in India, announcing the new unit via a public notice in newspapers and a blog post. Renu Satti has been appointed the CEO of the new entity, and also sits on the payments bank’s board; Paytm CEO Vijay Shekhar Sharma is the non-executive chairman. With the Paytm Payments Bank finally operational, there are a few changes consumers would be introduced to, primarily the wallets business being transferred to the newly-incorporated entity Paytm Payments Bank Ltd (PPBL). There seems to be some confusion around…

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Paytm Now Has 122 Million Active Users, Claims Investor

Paytm Now Has 122 Million Active Users, Claims Investor

Paytm, one of India’s largest electronic payment platforms, has seen over five-fold rise in active users in one year, a senior company official said on Thursday. Ant Financial Services Group, an Alibaba Group affiliate, took 25 percent stake in One97, owner ofPaytm, as part of a strategic agreement in 2015. Peng Yijie, director of international business at Ant Financial, the financial arm of Internet commerce giant Alibaba, said that Paytm reached 122 million active users by the end of March. “About 5.6 times the figure in the beginning of 2015,”…

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