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Paytm's Big Revamp: Younger Users, 50,000-Plus Salesforce, Smaller Cities
Paytm plans to revamp its online wealth management services and hire more than 15,000 contract salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.
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Paytm Investing to Build Artificial General Intelligence Software Stack: CEO Vijay Shekhar Sharma
Paytm is investing in Al to build Artificial General Intelligence software stack, founder and CEO Vijay Shekhar Sharma said in the latest annual report and also outlined the India opportunity, the fintech firm's commitment to serve the market and build a long-term profitable business. India can expect 500 million payment consumers and 100 million ...
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Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter
Indian digital payments firm Paytm reported a 51.5 percent rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter. Paytm's parent, One 97 Communications, said revenue rose to Rs. 23.35 billion in the January-March quarter, from Rs. 15.41 billion a year earlier.
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SoftBank, Ant Group to Sell Paytm Stakes via Block Deal After Failed Talks With Bharti Airtel Founder: Report
Ant Group and SoftBank are discussing selling their stakes in Paytm in the open market, after talks with Bharti Airtel founder failed, the Economic Times reported. Shareholders and investment banks representing Ant and Softbank had earlier approached Bharti Airtel founder-chairman Sunil Mittal with an offer to sell their stakes in One 97 Communicat...
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Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
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Paytm Registers Incentive Worth Rs. 130 Crore From UPI Transactions in 3 Quarters
One97 Communications, which operates under the Paytm brand, expects to sustain operational profit growth, company's founder and CEO Vijay Shekhar Sharma said on Monday. The company has calculated an incentive of Rs. 130 crore from UPI transactions in three quarters but Sharma said that the incentive may technically make the fourth quarter a free ca...
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Paytm CEO Vijay Shekhar Sharma Faces Biggest Test Today Since IPO Dud
The billionaire founder of Paytm, Vijay Shekhar Sharma, faces a crucial test of investor confidence Friday, when shareholders will decide whether they want him at the helm of a fintech pioneer that made one of the worst debuts in Indian history.
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Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
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Paytm Shares Jump to Six-Month High on Increased Monthly Users, More Payment Devices, Surge in Revenue
Paytm shares jumped to a six-month high, on the back of increased monthly users, additional payment devices and more disbursal of loans. On Friday, Paytm reported an 89 percent surge in quarterly revenue, which rose to Rs 1,680 crore, from Rs. 891 crore last year. Paytm, which competes with Google's payment app and Walmart's PhonePe in India's digi...
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Paytm Monthly Transacting Users Grew 49 Percent YoY, Q1 Net Loss Widens to Rs 644.4 Crore
Paytm announced on Friday that its consolidated loss had widened to Rs. 644.4 crore in the quarter ended June 30. The firm One97 Communications, which operates under the Paytm brand, said that it had recorded a net loss of Rs. 380.2 crore a year ago. Meanwhile, the company said that its monthly transacting users grew by 49 percent on a year-on-yea...
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Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
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Paytm's Business Model Questioned On Day 1 At Markets
Indian digital payments firm Paytm tumbled 25% on its maiden day of trade on Thursday, with investors questioning its lack of profits and the lofty valuations it gained in the country's largest-ever IPO.
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May Not Make Profit In Future, Warns Paytm On $2.2 Billion IPO
Digital payments pioneer Paytm on Friday took a major step towards launching India's biggest initial public offering, telling regulators that it would seek to sell $2.2 billion in shares.
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Paytm President Says India's Secondary Listing Plan Would Be Undue Burden
India's potential plan to compel companies to do a secondary listing on an Indian stock exchange if they opt to first list on an overseas bourse would unfairly penalise Indian firms, according to a senior executive at fin-tech company Paytm.
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Paytm May Enter 2 More Developed Markets in 2019, Says CFO
Paytm has already found its footing in Canada and Japan, and several commerce and financial services verticals of the company have begun to churn out revenue and profits, Deora said.
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Paytm's Big Revamp: Younger Users, 50,000-Plus Salesforce, Smaller Cities
Paytm plans to revamp its online wealth management services and hire more than 15,000 contract salespeople to get more merchants on its network, aiming to hit profitability sooner than targeted.
-
Paytm Investing to Build Artificial General Intelligence Software Stack: CEO Vijay Shekhar Sharma
Paytm is investing in Al to build Artificial General Intelligence software stack, founder and CEO Vijay Shekhar Sharma said in the latest annual report and also outlined the India opportunity, the fintech firm's commitment to serve the market and build a long-term profitable business. India can expect 500 million payment consumers and 100 million ...
-
Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter
Indian digital payments firm Paytm reported a 51.5 percent rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter. Paytm's parent, One 97 Communications, said revenue rose to Rs. 23.35 billion in the January-March quarter, from Rs. 15.41 billion a year earlier.
-
SoftBank, Ant Group to Sell Paytm Stakes via Block Deal After Failed Talks With Bharti Airtel Founder: Report
Ant Group and SoftBank are discussing selling their stakes in Paytm in the open market, after talks with Bharti Airtel founder failed, the Economic Times reported. Shareholders and investment banks representing Ant and Softbank had earlier approached Bharti Airtel founder-chairman Sunil Mittal with an offer to sell their stakes in One 97 Communicat...
-
Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
-
Paytm Registers Incentive Worth Rs. 130 Crore From UPI Transactions in 3 Quarters
One97 Communications, which operates under the Paytm brand, expects to sustain operational profit growth, company's founder and CEO Vijay Shekhar Sharma said on Monday. The company has calculated an incentive of Rs. 130 crore from UPI transactions in three quarters but Sharma said that the incentive may technically make the fourth quarter a free ca...
-
Paytm CEO Vijay Shekhar Sharma Faces Biggest Test Today Since IPO Dud
The billionaire founder of Paytm, Vijay Shekhar Sharma, faces a crucial test of investor confidence Friday, when shareholders will decide whether they want him at the helm of a fintech pioneer that made one of the worst debuts in Indian history.
-
Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
-
Paytm Shares Jump to Six-Month High on Increased Monthly Users, More Payment Devices, Surge in Revenue
Paytm shares jumped to a six-month high, on the back of increased monthly users, additional payment devices and more disbursal of loans. On Friday, Paytm reported an 89 percent surge in quarterly revenue, which rose to Rs 1,680 crore, from Rs. 891 crore last year. Paytm, which competes with Google's payment app and Walmart's PhonePe in India's digi...
-
Paytm Monthly Transacting Users Grew 49 Percent YoY, Q1 Net Loss Widens to Rs 644.4 Crore
Paytm announced on Friday that its consolidated loss had widened to Rs. 644.4 crore in the quarter ended June 30. The firm One97 Communications, which operates under the Paytm brand, said that it had recorded a net loss of Rs. 380.2 crore a year ago. Meanwhile, the company said that its monthly transacting users grew by 49 percent on a year-on-yea...
-
Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
-
Paytm's Business Model Questioned On Day 1 At Markets
Indian digital payments firm Paytm tumbled 25% on its maiden day of trade on Thursday, with investors questioning its lack of profits and the lofty valuations it gained in the country's largest-ever IPO.
-
May Not Make Profit In Future, Warns Paytm On $2.2 Billion IPO
Digital payments pioneer Paytm on Friday took a major step towards launching India's biggest initial public offering, telling regulators that it would seek to sell $2.2 billion in shares.
-
Paytm President Says India's Secondary Listing Plan Would Be Undue Burden
India's potential plan to compel companies to do a secondary listing on an Indian stock exchange if they opt to first list on an overseas bourse would unfairly penalise Indian firms, according to a senior executive at fin-tech company Paytm.
-
Paytm May Enter 2 More Developed Markets in 2019, Says CFO
Paytm has already found its footing in Canada and Japan, and several commerce and financial services verticals of the company have begun to churn out revenue and profits, Deora said.
