What prompted Paytm to roll back 2% fee on wallet top-up via credit cards?

Paytm E-Commerce set to raise $252 mn in round led by AlibabaIndia’s top digital wallet Paytm on Thursday reversed the 2% levy on top-ups via credit cards it had introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse. “We are conscious that this move caused inconvenience to a […]

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Anil Ambani’s Reliance Capital sells its stake in Paytm for $41 mn

paytm_tc_feAnil Ambani-controlled Reliance Capital Ltd has sold its nearly 1% stake in digital wallet company Paytm for Rs 275 crore ($41 million) to China’s Alibaba Group, a report by Press Trust of India stated, citing unnamed sources. Reliance Capital had put in Rs 10 crore for its investment in the wallet firm. Besides, the financial […]

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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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Paytm Payments Bank gets RBI’s final approval

20161020_AK_Paytm-Head-Office-009Digital payments firm Paytm has finally got regulatory approval to launch its much-awaited payments bank. “Today, the Reserve Bank of India gave permission to formally launch Paytm Payments Bank. We can’t wait to bring it in front of you,” founder Vijay Shekhar Sharma wrote in a blogpost on Tuesday announcing the development. “Today, everything changes, […]

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Amazon plans Singapore launch in early 2017

American online retail giant Amazon.com Inc. is reportedly trying to establish its presence in Singapore, in what could be a step towards tapping the Southeast Asian market. “Amazon is covertly acquiring assets, including refrigerated trucks, and making new hires as part of an initiative led by head of ASEAN Steve Scrive,” TechCrunch reported quoting unnamed […]

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Paytm appoints ex-Citigroup executive Madhur Deora as CFO

Mobile payment and e-commerce company Paytm, owned by One97 Communications has appointed former Citigroup executive Madhur Deora as it chief financial officer and senior vice president, according to a statement. Deora, an alumnus of Wharton School, was earlier with Citigroup Investment Banking as managing director, where he handled the firm’s TMT and private equity clients. […]

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