Paytm on India’s digital payments sector

SINGAPORE — Indian tech start-up Paytm is “super comfortable” with its position in an increasingly competitive payments sector in the country, a top executive at the company said Monday.

Paytm is an ubiquitous name in India’s digital payments sector. Millions of Indians use the service to pay for things including utility bills, groceries, recharging mobile connections or buying movie tickets. Paytm is also a fully licensed digital bank.

The service faces competition from the likes of Google Pay, Walmart’s PhonePe and most recently Facebook’s WhatsApp messaging service, which announced a feature allowing its users to send money through the app.

Paytm, PhonePe, Google Pay (Gpay) and Bhim UPI QR Codes (Standee) are Kept outside for Cashless payments at a medical store in Gurugram on the outskirts of New Delhi, India on 16 May 2020.

Nasir Kachroo | NurPhoto | Getty Images

“It’s no doubt that India is the last big

Read More

Paytm to ramp up credit card business, plans to add 20 lakh users- The New Indian Express

By Express News Service

NEW DELHI: Digital financial services major Paytm on Monday announced a ramping up of its presence in the co-branded credit cards segment, stating that it will partner with several credit card issuers and add 20 lakh subscribers to the service within the next 12-18 months. 

This venture, it claimed, will transform the credit market by onboarding “new to credit” users joining the digital economy. Paytm had launched its first co-branded credit card, called ‘Paytm First’ in May last year, in partnership with Citigroup.

Speaking about the cards, Paytm said that “It will be equipped with instant one-touch services such as change of the security pin number, updating the address, blocking the card in case of loss or fraud prevention, issuance of a duplicate card and viewing outstanding credit-limit”. The cards will also boast options to switch off the card for contactless payments or international transactions when

Read More