Why Paytm levied 2% fee on recharge via credit card, and MobiKwik latched on

For-E-payments-Infra-2_ThinkstockPhotos-505770038India’s mobile wallet companies have a knack for being in the news. Just a day after Vijay Shekhar Sharma-led market leader Paytm said it will levy 2% fee for adding money to the wallet using credit cards, arch-rival MobiKwik has announced that it will continue to offer “free” uploading of money to its wallet, including […]

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Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

AlibabaPaytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Thursday. Alibaba will invest $177 million (Rs 1,182 crore) […]

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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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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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Hero’s Sunil Munjal, Adventz’s Poddar eye stake in Paytm at $5.7 bn valuation

20161020_AK_Paytm-Head-Office-0232Hero Corporate Services chairman Sunil Munjal and Adventz Group chairman Saroj Poddar are reportedly looking to buy a stake in digital wallet and e-commerce firm Paytm. Munjal and Poddar are together negotiating to buy Paytm shares from early investor and former IDFC Securities analyst Nikhil Vora, The Economic Times reported citing two people aware of […]

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Flashback 2016: Paytm gets note ban boost but payments bank hits a bump

flashback-logo_feIf there is one man who is wholeheartedly welcoming Prime Minister Narendra Modi’s decision to scrap Rs 500 and Rs 1,000 banknotes, it’s Vijay Shekhar Sharma. The Paytm founder and CEO has turned out to be one of the biggest beneficiaries of the move as the cash crunch prompted people to increasingly use the digital […]

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Paytm hits PayPal hurdle in trademark row

20161020_AK_Paytm-Head-Office-0232Mobile wallet and e-commerce firm One97 Communications Ltd’s bid to seek a trademark for Paytm has hit a hurdle with global online payments company PayPal Inc. challenging the Indian company’s move. PayPal has filed a notice with the Indian trademark office in which it opposed Paytm’s application for trademark rights and said that the homegrown […]

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Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Vijay Shekhar Sharma, Founder, PaytmPaytm’s founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet’s parent firm One97 Communications Ltd, to raise nearly $48.1 million (Rs 325 crore). With the latest transaction, One97’s valuation reportedly stands at $4.8 billion (Rs 32,438.4 crore). The money will be used to fund the group’s proposed […]

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