Paytm bets $89 mn on QR code payment system

20161020_AK_Paytm-Head-Office-009Digital wallet firm Paytm, operated by One97 Communications Ltd, plans to invest Rs 600 crore ($89 million) to develop a QR code-based payments solution, several media reports stated. The company, which plans to train 10 million merchants to accept digital payments across 650 districts by the end of this year, will use the investment to […]

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Reliance Capital looking to sell its 1% stake in Paytm for $50-60 mn

Sell_think_feAnil Ambani-controlled Reliance Capital Ltd is reportedly in talks to sell its 1% stake in digital payments firm Paytm as it looks to trim its proprietary investment portfolio and monetise non-core assets. Press Trust of India reported, citing some people in the know of things, that the company was planning to raise Rs 335-402 crore […]

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Why a potential Snapdeal-Paytm merger makes perfect sense

For-MoEngage-Story-TC_ThinkstockPhotos-497374711_feWill they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring a potential merger with India’s biggest e-commerce player Flipkart. This […]

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How payments firm Oxigen is charting a different route to growth

Sunil-Kulkarni-_fePayment services provider Oxigen Services India Pvt Ltd plans to strengthen its core offline business and expand its digital offerings, as it looks to grow steadily and without burning a hole in its pockets. The company, majority-owned by South Africa’s Blue Label Telecoms Ltd, also aims to tap into more corporate clients and use its […]

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Will abundant cash supply poop the m-wallet party?

Mobile-wallet_feWithout a doubt, digital wallets have been the biggest beneficiary of Prime Minister Narendra Modi’s November move to scrap high-value banknotes. The resultant cash crunch brought thousands of borderline and non-users into the ecosystem, something that would have otherwise taken a few quarters. Data on payment systems released by the Reserve Bank of India (RBI) […]

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Paytm’s Sharma, Mahesh Murthy on cloud 9 as Musk hints at summer launch for Tesla

It was just a 23-character tweet. But it came from Elon Musk, the maverick founder of electric vehicles giant Tesla Motors. And it was enough to leave the poster boys of India’s startup community euphoric. In response to a question from an apparent Tesla fan, who asked, “eagerly waiting for Tesla to launch in India. […]

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Storm in Bombay House over, Ratan Tata to resume startup investing soon

VCCircle_Ratan_TataTata Sons interim chairman Ratan Tata has said he would go back to investing in startups this month after handing over the reins of the Tata group to N Chandrasekaran, managing director and chief executive of Tata Consultancy Services (TCS), who will formally take over on 23 February. After retiring as the head of Tata […]

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Paytm E-Commerce set to raise $252 mn in round led by Alibaba

Paytm E-Commerce set to raise $252 mn in round led by AlibabaPaytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications, is set to raise $200-252 million (Rs 1,350-1,700 crore) in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, a major financial daily reported on Friday. The funding round, which marks Alibaba’s formal entry in India’s crowded e-commerce market, values Paytm’s […]

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Budget 2017: BHIM at centre stage, not digital payment startups

bhim_app_feUnion budget 2017 has clearly put the spotlight on digitisation, but that hasn’t really got players in the digital payment space excited as they feel the government’s emphasis is on promoting its own BHIM app rather than strengthening the entire ecosystem. In his budget speech, finance minister Arun Jaitley highlighted the success of BHIM, saying […]

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Paytm investor Alibaba’s Ant Financial to buy US firm MoneyGram for $880 mn

AlibabaIn step with its international ambitions, Ant Financial Services Group, the payment business arm of Chinese e-commerce giant Alibaba Group, has agreed to buy US money-transfer company MoneyGram for $880 million. Alibaba and Ant Financial hold a significant stake in One97 Communications Ltd, the parent company of mobile wallet firm Paytm. Reuters reported that Ant […]

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