Paytms

Indian digital payments firm Paytm said on Monday Vijay Shekhar Sharma would step down as non-executive chairman and board member of its payments bank's unit, as the embattled company overhauls its board in the wake of a central bank clampdown.Paytm likely to partner with four banks for enabling UPI transactions, sources sayTroubledPaytm is likely to partner with Axis Bank, HDFC Bank, State Bank of India and Yes Bank for processing transactions via the popular unified payments interface (UPI), two sources aware of the…

An advisory committee, set up by Paytm owner One97 Communications after the Reserve Bank's action on its payments bank business, is yet to have a deeper engagement with the company to identify any issue, head of the panel and former chairman of Sebi M Damodaran said on Sunday. "We are an external advisor. At this point they (Paytm) are dealing with RBI," Damodaran said in response to a question on the impact on Paytm with regard to RBI's January 31 order on Paytm Payments Banks Limited (PPBL). As per the January 31 order,…

The Reserve Bank of India (RBI) said on Friday that Paytm can transfer its Unified Payments Interface-based payments business from Paytm Payments Bank to four to five other banks.The RBI asked Paytm to stop onboarding new users until it completes the migration of the existing accounts to these banks. The RBI had earlier directed Paytm Payments Bank to stop offering banking services after March 15.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional…

Digital payments major Paytm, which is run by One 97 Communications, has seen a stagnation in Unified Payments Interface payments originating from its payments bank over the last six months.Data shared by the National Payments Corporation of India shows that from August 2023, payments originating from Paytm’s own UPI address started falling.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMITMIT Technology Leadership and…

Hi, this is Pratik Bhakta in Bengaluru. The stringent action by the Reserve Bank of India (RBI) against Paytm Payments Bank could have a positive fallout. It can actually push One 97 Communications, which runs Paytm, to focus on what it does best — build distribution.It can also focus on technology and product development like it did with Soundbox — a desi way of reducing fraud and confirming merchant payments.With Paytm Payments Bank staring at an uncertain future, it all comes down to the Paytm app for founder Vijay…

Vijay Shekhar Sharma, founder of Paytm and part-time chairman of Paytm Payments Bank, considered resigning from the latter’s board and removing ‘Paytm’ from its name to quell mounting regulatory and compliance pressures on the fintech firm, said people aware of the matter.Sharma, however, did not carry out his plan and remains on the board of Paytm Payments Bank.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology…

Happy Monday! The top brass at Paytm held meetings with senior executives at One 97 Communications and Paytm Payments Bank to chart their future course. Details of this and more in today’s ETtech Morning Dispatch.Also in this letter:■ Byju’s-Messi deal on hold■ Social media firms ping govt on deepfake issue■ Binance’s plea rejectedPaytm to staff: focus on moving biz to other banks The top management at Paytm had two separate meetings with the senior executives at One 97 Communications and Paytm Payments Bank. The…

Today is Christmas and, as expected, most businesses and governments have shut down for the day and people are enjoying a holiday. Yet artificial intelligence developments have found a way to emerge even today. In a shocking development, the parent company of Paytm, One97 Communication, has fired more than 1000 employees. The underlying reason behind the Paytm layoff is reported to be the AI advancement of the company that has caused a few positions to be surplus to requirements. This and more in today's AI roundup. Let…

Paytm CEO Vijay Shekhar Sharma has raised a concern after a blogpost by ChatGPT creator OpenAI said that the vast power that superintelligence…

Paytm, India's mobile payments and QR code pioneer, is expected to report robust for January-March 2023 earnings, with revenue growth of 49% YoY, and the second consecutive quarter of positive margins, Goldman Sachs said in a recent report. The foreign brokerage has maintained its 'buy' rating and 12-month target price at ₹1,150 apiece, implying a potential rally of 78% from current market price."We see the improving profitability as a meaningful catalyst for the stock, and expect Paytm to be net income profitable in…