Continuing with its fund raising exercise, Paytm Mall has raised about Rs 1,101 crore ($160 million) by selling a 5.59% stake to US-based e-commerce firm eBay, according to a regulatory filing by Paytm E-commerce Private Ltd.
With this round, the Indian e-commerce giant has now raised about $805 million in three rounds.
Paytm Mall, the e-commerce wing of Paytm, has forged a partnership with Apple to become one of the authorised resellers in India. This means that the sellers on Paytm Mall would require a pre-authorised approval to be able to list Apple products, including iPhone, iPad, Mac, Apple Watch, and more. In the hindsight, it also alludes to reduction in the range of discounts and offers doled out by Paytm Mall on Apple products to attract buyers.
Vijay Shekhar Sharma’s Paytm has ramped up its loans operations and has partnered with Clix Finance India Pvt. Ltd. to provide loans to MSMEs and self-employed people, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to both the customers and merchants of Paytm. The company targets “new-to-credit, self-employed, small and micro enterprises and small borrowers,” who are largely underserved and face difficulties to get loans, the digital commerce company said.
New Delhi: Paytm Mall World Store which makes international brands available to Indian buyers on its platform is easing the shopping experience of buyers who face several issues when they shop on international platforms.
"The company is rapidly expanding its 'Paytm Mall World Store' which makes international brands available to Indian buyers at its platform.
Payments company Paytm said that it is planning to have more than Rs 20,000 crore in Gross Merchandise Value (GMV) from its education business in the current financial year as it looks to expand its current offerings in the segment that includes fee payment, coaching and test series packages, and helping students choose the right college.
New Delhi: Digital payment firm Paytm and Chinese internet firm Tencent may invest up to USD 125 million (nearly Rs 860 crore) in Times Internet's online video streaming platform MX Player this month against purchase of equity.
"Tencent and Paytm are planning to invest USD 100-125 million in MX Player against purchase of equity. The investment is expected to be happen this month," sources privy to the discussion among the three companies told PTI.
Digital payments system Paytm on Monday said it aimed to achieve 2 billion quarterly transactions this year. The company revealed that it had been witnessing impressive month-on-month growth across all payment-use cases available on its platform.
The company, which recently announced shifting its cash back focus from P2P (peer-to-peer) UPI transactions to offline merchant payments at retail kirana stores, is now expanding its footprint in Tier-VI and Tier-V towns. It is keen on acquiring news users, who still are relying on cash transactions.
Mobile wallet company Paytm has denied a report about charging transaction and convenience fees on its platform after a media report said that Paytm will now charge transaction fees. In a tweet, Paytm said that as of now, it does not levy charges from customers on any payment method including cards, UPI and wallet. In its official blog, the Vijay Shekhar Sharma-founded company also said, “Paytm customers can continue using all services available on our platform without any fee”.
Paytm Money — the mutual fund investment arm of Paytm has partnered with independent investment research firm Morningstar’s India subsidiary Morningstar Investment Adviser India to offer ‘Morningstar Investment Packs’ to its users on the Paytm Money app.
The offer brings a portfolio of five mutual funds, which are supported by Paytm Money’s ‘risk suitability assessment’, and customers (investors) are recommended right ‘pack’ based on their individual risk profiles, the company said in a statement.
Online retailer Amazon has invested Rs 450 crore in its digital payments arm Amazon Pay (India). The funding would help the Seattle-based company tap India's booming digital payments market and compete with Walmart-owned PhonePe, Alibaba-backed Paytm, and Google's mobile payment service Google Pay.
The funding came from Singapore-based Amazon Corporate and Mauritius-based entity Amazon.com, according to regulatory documents filed by Amazon, which were sourced from business intelligence platform Tofler.
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