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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Paytm to merge wallet business with payments bank

PAYTM_Ankit_feOne97 Communications Ltd, the owner of digital wallet Paytm, said on Monday it will merge its wallet business with its upcoming payments bank to comply with Reserve Bank of India’s directions. The digital wallet will be transferred after the company gets necessary regulatory approval to start Paytm Payments Bank Ltd, it said in a blog […]

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Airtel payments bank hires PayU executive Abhishek Tripathi to lead SMB solutions

Abhishek-TripathiAbhishek Tripathi, associate director and business head at PayU Payments Pvt. Ltd, has decided to quit the company to join Bharti Airtel Ltd. He will be leading the small and medium business at Airtel Payments Bank. “I have joined Airtel Payments Bank to lead the SMB/SME solutions,” Tripathi confirmed the development to TechCircle. “I will […]

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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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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Paytm in talks to raise $300-350 mn from MediaTek, Temasek and others

PaytmOne 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, is in talks to raise $300-350 million (Rs 2,000-2,350 crore) from a clutch of potential investors that include chipmaker MediaTek Inc, Singapore state investment arm Temasek Holdings Pte and Goldman Sachs Inc, several media reports said. According to Mint, which reported the development […]

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Payments banks’ quest for profits starts with monetising customer data: Techcircle Payments Forum

Left to right Sohini Rajola, head of digital banking at Axis Bank, Ananya Birla, founder of Svatantra Microfinance, T R Ramachandran, group country manager of India and South Asia, Visa, Mihir Gandhi, associate director of payments transformation, PwC India, Amit Soni, principal, General AtlanticThe yet-to-launch payments banks need to monetise the data on customers at the bottom of the pyramid to generate revenue, according to a panel at the Techcircle Payments Forum held in Mumbai. The panel discussion ‘Emergence of New Payment Banks: How can traditional businesses respond?’ moderated by Amit Soni, principal, General Atlantic, saw senior executives […]

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Paytm gets Ruchita Taneja Aggarwal and Priya Karnik from Citibank for its payments bank

Ruchita-Taneja-AggarwalOne97 Communications Pvt Ltd, which runs mobile payments and commerce platform Paytm, has roped in Ruchita Taneja Aggarwal and Priya Karnik of Citibank for its yet-to-launch payments bank. Aggarwal will head banking operations while Karnik will spearhead product development for banking operations separately, a statement from Paytm said. Before joining Paytm, Aggarwal was director of […]

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