Paytm Payments Bank’s market share in mobile-banking volumes slipped to 18% in February 2019 from 26% in February 2018 with Airtel Payments Bank entering the fray and incumbent HDFC Bank gaining some ground.

Data released by the Reserve Bank of India (RBI) show that Paytm recorded 133 million of a total 739 million mobile-banking transactions made during February 2019.

Digital payments company Paytm has now enabled users to check their credit scores on its mobile app. Users can access the service by clicking on ‘My Credit Score’ under their user profile section. Paytm-backer Alibaba’s financial services affiliate Ant Financial had launched a similar service called Sesame Credit in January 2015 for individual credit scores of customers and small business owners.

Paytm Travel, the digital arm of payment and wallet company Paytm for booking online travel tickets is looking at regional language users in tier-II and tier-III cities to drive growth ahead. The travel business has 13 million customers, up from 9 million last year, said Paytm’s Vice President and head of Paytm Travel Abhishek Ranjan told Financial Express Online.

Even as the Reserve Bank of India (RBI) on Monday extended the timeline for issuers of wallets and other prepaid payment instruments (PPIs) for completing the know-your-customer (KYC) registration by six months, industry players said the inability to carry out the eKYC remotely will continue to be a pain point.

Even as we continue to see immense competition among mobile wallets with each vying for greater market share, Paytm’s Vijay Shekhar Sharma says that cashbacks work to retain customers. According to Vijay Shekhar Sharma, offering cashbacks makes the “customer pull out phone and try the product once.” Notably, Vijay Shekhar Sharma’s response came after UTV Group founder Ronnie Screwvala tweeted that he received a Rs 75 cashback after spending Rs 210 for a ice-cream. “At the airport and paying a single scoop of ice cream for Rs 210.

NEW DELHI: Paytm has launched hotel bookings on its platform and acquired NightStay, which offers deals on last-minute bookings at luxury hotels, as the Alibaba-backed payments and ecommerce company expands its travel business.

Paytm said it plans to invest Rs 500 crore in scaling up its travel operations and has partnered with more than 5,000 hotels across the budget, luxury and business segments.

NEW DELHI & BENGALURU: Paytm Mall, the ecommerce arm of Paytm Group, is undertaking a significant restructuring of its top and mid-level executive teams, amid speculation that the firm plans to focus on catering to its merchant ecosystem through B2B category and on offline-to-online consumer businesses.

Paytm Mall on Tuesday announced ‘Republic Day Sale’ which offers exciting discounts and cashback to the buyers. The attractive deals can be availed by the customers until January 26. The customers can buy laptops, sports shoes, smart TVs, headphones, home appliances and others in the sale.

Up to Rs 8,000 cashback can be availed on the purchase of iPhones using the offer, the company said in a statement.

Paytm Travel, the online travel booking business of payment wallet Paytm, is bracing to overtake Nasdaq-listed MakeMyTrip in online bus and flight ticket bookings in FY20. The company sold 38 million rail, bus and flight tickets in FY18 with threefold growth over FY17 and is aiming to close the current year with sale of over 70 million tickets.

The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank Ltd, which is co-owned by One97 Communications and Vijay Shekhar Sharma, to restart its know your customers (KYC) process as well as open fresh accounts. In June last year, the central bank directed Paytm Payments Bank to stop opening new accounts and e-wallets, after an audit in which the banking regulator observed that the company violated KYC norms.

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