Paytm's loss is Airtel's gain? Airtel Payments Bank sees spike in new customers
10 months, 2 weeks ago

Paytm's loss is Airtel's gain? Airtel Payments Bank sees spike in new customers

Hindustan Times  

Airtel Payments Bank has experienced a remarkable surge in new customers applying online for various services, including bank account openings and FASTags, over the past few days, according to its chief executive officer Anubrata Biswas, PTI reported. While Biswas did not explicitly confirm a direct correlation to users shifting from Paytm Payments Bank following the RBI's action on January 31, he acknowledged the substantial increase in digital product applications. Speaking about the performance and operational metrics of Airtel Payments Bank, Biswas said, "All our digital products, be it customers who have an account applying for fixed deposit, be it new customers applying online for bank account or customers applying for FASTag, all are 5-7 times the January rates. However, sources familiar with the matter suggest that there has only been a 10 per cent-15 per cent decline in transaction volumes handled via Paytm Payments Bank so far, reported Reuters.

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History of this topic

Paytm has made a big new bet. Will it pay off?
4 weeks ago

Paytm has made a big new bet. Will it pay off?

Live Mint  

Since its debut on Dalal Street three years ago, Paytm has been battling several challenges. View Full Image Source: Tijorifinance Financial services The RBI's action caused Paytm’s operating model to change significantly as lenders turned cautious. View Full Image Source: Tijorifinance During Q2 FY25, 600,000 unique consumers and merchants availed of financial services through Paytm, up from 590,000 during Q1 …

Paytm gets government nod for investment in payments arm: Details
3 months, 3 weeks ago

Paytm gets government nod for investment in payments arm: Details

India TV News  

India's Paytm has received approval from the country's finance ministry to invest in its payment services business, the fintech firm. In July, Reuters reported, citing a top finance ministry official, that Paytm had secured approval for a 500 million rupee investment in its payments arm. Paytm Payment Services is one of the biggest remaining parts of the fintech firm's business …

Paytm said to get government nod to invest in payments arm: report
5 months, 2 weeks ago

Paytm said to get government nod to invest in payments arm: report

The Hindu  

India's beleaguered Paytm has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal …

Paytm’s market share Continues to fall after RBI crackdown
6 months, 2 weeks ago

Paytm’s market share Continues to fall after RBI crackdown

Hindustan Times  

Paytm’s market share among India’s online payment apps, fell for a fourth straight month as the fintech pioneer struggles to recover from the Reserve Bank of India ordering its affiliate, Paytm Payments Bank to shut down, according to a Bloomberg report. Paytm Payments Bank isn’t actually controlled by Paytm, but is part of founder and CEO Vijay Shekhar Sharma’s fintech …

Paytm aims to cut around 20 per cent of workforce amid rising employee costs: Report
7 months ago

Paytm aims to cut around 20 per cent of workforce amid rising employee costs: Report

India TV News  

Digital payments firm Paytm is reportedly contemplating a workforce reduction of approximately 15-20 per cent in the ongoing financial year as part of its strategy to reduce employee costs. This surge likely elevated the average employee cost to an estimated Rs 10,60,000, reflecting the company's evolving financial dynamics, as per a report by the Financial Express. Paytm aims to cut …

Paytm layoffs: Company warns of job cuts as revenue falls 2.7%
7 months ago

Paytm layoffs: Company warns of job cuts as revenue falls 2.7%

Hindustan Times  

Paytm announced that there may be job cuts at the company as it plans to trim non-core assets following its first-ever decline in sales on May 22. Paytm reported Q4 results after a regulatory probe into its financial arm Paytm Payments Bank by the Reserve Bank of India In a letter to shareholders, Vijay Shekhar Sharma said, “We expect near-term …

Paytm share price falls nearly 3% after payments bank chief quits
8 months, 2 weeks ago

Paytm share price falls nearly 3% after payments bank chief quits

Hindustan Times  

Paytm share price: Shares of Paytm fell nearly 3 per cent today after Surinder Chawla stepped down as the Paytm Payments Bank managing director and chief executive. Paytm share price: A QR code for the Paytm digital payment system at a store in Mumbai, India. More on Paytm crisis The Reserve Bank of India imposed business restrictions on PPBL which …

Paytm stock gains for 4th consecutive day: Is the worst over?
9 months ago

Paytm stock gains for 4th consecutive day: Is the worst over?

Hindustan Times  

Paytm share price: Shares of One97 Communications, Paytm's parent company, extended gains for the fourth consecutive session as the stock soared over 4% intra-day basis today hitting day high of ₹425.70 on the NSE. Analysts on Paytm stock Global brokerage firm Morgan Stanley reaffirmed its ‘Equal-Weight’ rating on the stock and maintained a price target of ₹555 per share while …

Paytm jumps 5% as digital payments app survives banking unit shutdown
9 months, 1 week ago

Paytm jumps 5% as digital payments app survives banking unit shutdown

The Hindu  

Shares of India's Paytm rose a stock exchange-allowed maximum of 5% on Friday, March 15, 2024, a day after it got a third-party application provider license that will allow it to offer digital payments after its banking unit ceases operations. The license, granted by the country's payments authority, came as Paytm Payments Bank will cease to operate on March 15, …

Paytm share price up 5% after NPCI grants third-party app license: Will it recover?
9 months, 1 week ago

Paytm share price up 5% after NPCI grants third-party app license: Will it recover?

Hindustan Times  

Paytm Share Price today: Shares of India's Paytm rose 5%, a day after National Payments Corporation of India granted approval to Paytm's parent company One97 Communications Limited to participate in UPI services as a Third-Party Application Provider. Paytm share price today: A QR code for the Paytm digital payment system at a store in Mumbai. Paytm's stock has been hitting …

Paytm share price drops 5% ahead of Payments Bank deadline: Will fall continue?
9 months, 1 week ago

Paytm share price drops 5% ahead of Payments Bank deadline: Will fall continue?

Hindustan Times  

Paytm share price: Shares of Paytm's parent company One97 Communications Ltd tanked 5 per cent, third lower circuit in as three days. This would allow customers to continue using the Paytm app for payments through unified payment interface and would help the company as Paytm Payments Bank ceases operations by March 15. Economic Times reported that four banks- Axis Bank, …

Paytm shares rebound after losing 50% in a month. What's next?
10 months ago

Paytm shares rebound after losing 50% in a month. What's next?

India Today  

Shares of digital payments firm Paytm have been on a winning run for the past four trading sessions, rising nearly 21 per cent after declining sharply over the past month. Paytm shares are down nearly 50 per cent in a month, following the Reserve Bank of India’s regulatory action against its associate, Paytm Payments Bank. In addition, the RBI’s recently …

Paytm share price hits upper circuit again today. What's driving the rally?
10 months ago

Paytm share price hits upper circuit again today. What's driving the rally?

Hindustan Times  

Paytm share price today continued its recovery. Paytm share price today: The interface of Indian payments app Paytm is seen in front of its logo displayed. Paytm share price: Axis Bank decision Paytm's parent company- One97 Communications- shifted its nodal account to Axis Bank through an escrow account. Paytm share price: RBI deadline The Reserve Bank of India extended the …

Paytm shares surge 5% as Axis Bank steps in for merchant settlements amid RBI compliance woes
10 months ago

Paytm shares surge 5% as Axis Bank steps in for merchant settlements amid RBI compliance woes

New Indian Express  

NEW DELHI: Shares of One97 Communications -- owner of the brand Paytm -- jumped 5 per cent in the morning trade on Monday after the crisis-hit fintech company's decision to collaborate with Axis Bank for the continuation of merchant settlements. In the morning trade, the 30-share BSE Sensex benchmark gained 185.81 points or 0.26 per cent to 72,612.45, while NSE …

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown
10 months, 1 week ago

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown

Hindustan Times  

The Reserve Bank of India, soon after extending the deadline to halt operations, issued a list of frequently asked questions for Paytm Payments Bank account holders. After March 15, 2024, you will not be able to deposit money into your account with Paytm Payments Bank. After March 15, 2024, you will not be able to receive any such credits into …

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags
10 months, 1 week ago

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags

India Today  

The Reserve Bank of India has announced an extension of the deadline for the operations of Paytm Payments Bank Limited. Wallet services, FASTags, and NCMC cards issued by Paytm Payments Bank can be used until the balance is exhausted, but no top-ups or recharges will be allowed after March 15, 2024. Deposits or transfers into Paytm Payments Bank accounts will …

Paytm share price hits all-time low amid ED probe against fintech firm
10 months, 1 week ago

Paytm share price hits all-time low amid ED probe against fintech firm

Hindustan Times  

Paytm shares hit all-time low on Thursday amid the Enforcement Directorate probe against the fintech firm following the Reserve Bank of India action against Paytm Payments Bank. The declining share prices have added more salt to the wounds of Paytm, which is now under Enforcement Directorate investigation after the RBI barred its subsidiary Paytm Payments Bank from accepting new deposits …

Paytm shares hit record low for 2nd straight day. Here's why
10 months, 1 week ago

Paytm shares hit record low for 2nd straight day. Here's why

India Today  

Shares of digital payments firm Paytm fell nearly 10 per cent in early trade on Wednesday to hit a record low for the second consecutive trading session. Paytm shares hit a record low of Rs 342.15 apiece in early trade on the National Stock Exchange. Paytm shares in freefall Paytm’s shares have been under pressure ever since the Reserve Bank …

Paytm Shares Tank 9% After Macquarie Slashes Target Price By 57%; Know Target Price
10 months, 1 week ago

Paytm Shares Tank 9% After Macquarie Slashes Target Price By 57%; Know Target Price

News 18  

Shares of One97 Communications Limited, the parent company of digital payments firm Paytm, dipped sharply in early trade to hit a record low on Tuesday. The shares today fell up to 8.7 per cent to the day’s low at Rs 385.75 on BSE after global broking firm Macquarie downgraded the troubled fintech to underperform from the neutral call with a …

Paytm plunges nearly 8 per cent to hit 52-week low; here's why
10 months, 1 week ago

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

India TV News  

Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd. Meanwhile, the broader market indices showed a positive trend, with the BSE Sensex surging by 436.83 points, or 0.61 per cent to …

Explained: Why Paytm shares fell 8.5% to hit record low today
10 months, 1 week ago

Explained: Why Paytm shares fell 8.5% to hit record low today

India Today  

Shares of One97 Communications Limited, the parent company of digital payments firm Paytm, dipped sharply in early trade to hit a record low on Tuesday. Paytm shares fell 8.5 per cent to Rs 386.25 apiece in early trade, but recovered marginally to trade at Rs 395.85 at around 9:57 am. The embattled digital payments firm’s shares have been under pressure …

Explained: Why Macquarie's downgrade spooked Paytm investors
10 months, 1 week ago

Explained: Why Macquarie's downgrade spooked Paytm investors

India Today  

Shares of digital payments firm Paytm hit a record low of Rs 380.05 in the afternoon trading session after falling nearly 10 per cent. But why has the brokerage firm’s fresh report and downgrade spooked Paytm investors? ‘Arduous’ migration hurdle The brokerage firm in its report said migrating to other third party banks from Paytm Payments Bank could be a …

Paytm to form advisory committee on compliance, regulatory matters led by ex-SEBI head
10 months, 2 weeks ago

Paytm to form advisory committee on compliance, regulatory matters led by ex-SEBI head

Hindustan Times  

Fintech firm One97 Communications, which owns Paytm brand, on Friday announced setting up of a group advisory committee headed by former Sebi Chairman M Damodaran, amid its associate payments bank entity facing regulatory action for non-compliance with RBI norms. Among other responsibilities, Damodaran had chaired high-powered committees for the Union government, RBI and was also elected Chairman of the EMC …

Paytm share price hits 10% lower circuit after a two-day recovery
10 months, 2 weeks ago

Paytm share price hits 10% lower circuit after a two-day recovery

Live Mint  

The stock price of One97 Communications, the parent company of Paytm, experienced a significant drop in today's trading session after recovering slightly from heavy losses in the past two trading days. Despite Sharma's efforts, reports suggest that the central bank declined to offer any concessions to Paytm Payments Bank, such as allowing the migration of accounts to other banks or …

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply
10 months, 2 weeks ago

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply

Hindustan Times  

Paytm founder and chief executive officer Vijay Shekhar Sharma on Tuesday had met finance minister Nirmala Sitharaman in wake of the Reserve Bank of India actions against his Paytm Payments Bank. According to a Moneycontrol report, the central bank refused to grant any concession to the Paytm Payments Bank including the migration of users' accounts to other banks and extension …

Paytm shares rise 5%: Will the recovery last?
10 months, 2 weeks ago

Paytm shares rise 5%: Will the recovery last?

Hindustan Times  

Paytm share price today: Shares of Paytm gained 5 percent on February 6 after it was locked in a lower circuit for three straight sessions following RBI's restrictions on its payments bank business. RBI barred Paytm Payments bank from accepting new deposits and conducting credit transactions after February 29. Large number of small traders, vendors, hawkers and women are making …

Paytm surges nearly 8 per cent, recovers from 42 per cent loss in three sessions after RBI curbs
10 months, 2 weeks ago

Paytm surges nearly 8 per cent, recovers from 42 per cent loss in three sessions after RBI curbs

India TV News  

Shares of One97 Communications Ltd, the parent company of the Paytm brand, rebounded on Tuesday morning after experiencing three consecutive days of sharp declines. Over the past three days, the stock plummeted by over 42 per cent, resulting in a loss of Rs 20,471.25 crore in market valuation, following regulatory actions from the Reserve Bank of India. The RBI's recent …

Paytm shares bounce back after nearly halving in price in three days
10 months, 2 weeks ago

Paytm shares bounce back after nearly halving in price in three days

New Indian Express  

After falling continuously for three days, shares of payments platform Paytm bounced back on Tuesday, ending up 3.3%, compared to 10-20% declines seen over the last several days. The stock had corrected by around 43% since Reserve Bank of India imposed crippling restrictions on Paytm Payments Bank – the company’s in-house provider of back-end banking services. The most pain is …

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank
10 months, 3 weeks ago

Why Did Paytm Shares Tank Another 20% Today? Know Details of RBI's Action Against Paytm Payments Bank

News 18  

Shares of One97 Communications Ltd, which owns Paytm brand, on Friday plummetted another 20 per cent. The decline comes as the RBI has directed Paytm Payments Bank Ltd to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. Fintech firm Paytm sees an impact of Rs 300-500 crore on its annual operational …

Paytm rules out impact of RBI curbs on Payments Bank, says…
10 months, 3 weeks ago

Paytm rules out impact of RBI curbs on Payments Bank, says…

Hindustan Times  

Paytm on Thursday said the company will only work with other banks and not the Paytm Payments Bank. According to details from an investors meet in which Paytm founder and CEO Vijay Shekhar Sharma was also present, Paytm said it will work with other banks and not the Paytm Payments Bank, this a day after the Reserve Bank of India …

RBI curbs on Paytm Payments Bank not a sudden move, action taken after warnings
10 months, 3 weeks ago

RBI curbs on Paytm Payments Bank not a sudden move, action taken after warnings

Hindustan Times  

India’s banking regulator stunned the finance and tech industries by abruptly suspending much of digital giant Paytm’s business late Wednesday. The RBI on Wednesday ordered Paytm Payments Bank, which is 49% owned by Paytm’s parent company, to stop its popular mobile wallet business along with other activities, citing persistent non-compliance and supervisory concerns. Still, the RBI’s stance is that it …

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary
10 months, 3 weeks ago

Paytm Payments Bank: A look at previous RBI actions against Paytm subsidiary

Hindustan Times  

Paytm Payments Bank, a wholly-owned subsidiary of fintech major Paytm, has been barred by the Reserve Bank of India from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, and more, after February 29. Representative Image However, this is not for the first time that Paytm Payments Bank, launched in November 2017, finds itself in trouble. …

Paytm shares drop 20% in early trade, day after RBI action on its payment bank
10 months, 3 weeks ago

Paytm shares drop 20% in early trade, day after RBI action on its payment bank

Hindustan Times  

Paytm stocks: Paytm shares dropped 20 per cent in early trade, a day after the Reserve Bank of India ordered its wholly-owned subsidiary Paytm Payments Bank to stop taking deposits from March 1. The Reserve Bank in its order on Wednesday instructed Paytm Payments Bank to cease accepting new deposits without specifying a review timeline for the imposed restrictions. Follow- …

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock
10 months, 3 weeks ago

Paytm shares: How will RBI's action on Paytm Payments Bank impact stock

Hindustan Times  

Shares of Indian payments firm Paytm are set to open lower on Thursday, after a move by the country's financial regulator to halt business at Paytm's payments bank unit sparked fears of hits to the company's profitability and reputation. FILE PHOTO: RBI banned Paytm Payments Bank from accepting new deposits starting in March. The Reserve Bank of India on Wednesday …

Paytm counts its loses, sees ₹500 crore hit from RBI curbs on payments bank
10 months, 3 weeks ago

Paytm counts its loses, sees ₹500 crore hit from RBI curbs on payments bank

Hindustan Times  

Paytm said on Thursday that it anticipates a potential adverse impact on its annual earnings in the range of ₹300 to 500 crore due to the Reserve Bank of India's directive preventing its subsidiary, Paytm Payments Bank, from accepting new deposits starting in March. Paytm's parent company, One97 Communications Ltd., announced plans to shift entirely to other bank partners, excluding …

RBI bars Paytm Payments Bank from accepting deposits after Feb 29
10 months, 3 weeks ago

RBI bars Paytm Payments Bank from accepting deposits after Feb 29

Hindustan Times  

The Reserve Bank of India on Wednesday barred Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action,” …

Paytm Q3 results: Revenue jumps 38% to ₹2,851 crore
11 months ago

Paytm Q3 results: Revenue jumps 38% to ₹2,851 crore

Hindustan Times  

Paytm Q3 results: Paytm posted a 38 per cent rise in revenue to ₹2,851 crore in the quarter ending in December, it said in a regulatory filing on Friday. Paytm In the October-December quarter, the fintech giant Paytm reported a robust 38 per cent YoY growth in revenue, reaching ₹2,850 crore, with EBITDA before ESOP showing an improvement of ₹188 …

Paytm strengthens merchant payments leadership, deploys 71 lakh devices in April
1 year, 7 months ago

Paytm strengthens merchant payments leadership, deploys 71 lakh devices in April

Live Mint  

Paytm has further cemented its leadership in merchant payments. “We continue to strengthen our leadership in offline payments, with 71 lakh merchants now paying subscription for payment devices, an increase of 3 lakh in the month of April 2023. With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing …

Paytm Q2 Results: Net Loss Widens To Rs 571 Crore, Logs 76 Per Cent Rise In Revenue
2 years, 1 month ago

Paytm Q2 Results: Net Loss Widens To Rs 571 Crore, Logs 76 Per Cent Rise In Revenue

ABP News  

Paytm, the Indian digital payments company, logged a 76 per cent jump in second-quarter revenue, helped in part by a surge in loan growth, according to a report by news agency Reuters. The company’s consolidated net loss widened to Rs 571 crore from a loss of Rs 473 crore a year earlier, as expenses related to employee benefits and payment …

Paytm Q2 Result: Consolidated Loss Widens To Rs 571 Crore, Revenue Up 76%
2 years, 1 month ago

Paytm Q2 Result: Consolidated Loss Widens To Rs 571 Crore, Revenue Up 76%

News 18  

Digital financial services firm One97 Communications, which owns Paytm brand, has reported a widening consolidated loss to Rs 571 crore for the September 2022 quarter, compared with a loss of Rs 481 crore in the corresponding period last year. Paytm’s revenue from ‘payment services to consumers’ registered a jump of 55 per cent year-on-year to Rs 549 crore, while payment …

Paytm Shares Hit Record Low, Plunge 12% To Trade At Rs 685
2 years, 9 months ago

Paytm Shares Hit Record Low, Plunge 12% To Trade At Rs 685

ABP News  

New Delhi: The share price of One 97 Communications, the parent company of Paytm, plunged to an all-time low to Rs 685 per share on Monday. This comes after the central bank under Section 35A of the Banking Regulation Act, 1949, barred Paytm Payments Bank from acquiring new customers and directed the bank to appoint an IT audit firm to …

Paytm share price falls to all-time low; check latest updates on BSE, NSE
2 years, 9 months ago

Paytm share price falls to all-time low; check latest updates on BSE, NSE

India Today  

Paytm share price on Monday fell over 12 per cent to an all-time low of Rs 672 apiece on the BSE Sensex. Shares of One97 Communications, the parent company of Paytm, fell after the Reserve Bank of India last week barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit. PAYTM PAYMENTS BANK Paytm Payments Bank …

Paytm Bank barred from adding new customers
2 years, 9 months ago

Paytm Bank barred from adding new customers

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday asked Paytm Payments Bank Ltd to stop onboarding of new customers with immediate effect, citing certain “material supervisory concerns” observed in the bank. Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by the RBI after reviewing report of the IT auditors, the …

Here's how Paytm's businesses are unaffected by the changes to digital payment charges.
2 years, 10 months ago

Here's how Paytm's businesses are unaffected by the changes to digital payment charges.

India Today  

With the decision by the Reserve Bank of India to release a discussion paper on digital payments, speculation has been rife as to how this will impact digital payments businesses. Certain analyst firms, including foreign brokerage Macquarie, have speculated that regulatory changes may impact Paytm’s businesses. With the payments business accounting for 70% of gross revenues of the digital payments …

Payments bank deposit limit doubled by RBI
3 years, 8 months ago

Payments bank deposit limit doubled by RBI

Live Mint  

In a bid to promote digital payments banks in the country, the Reserve Bank of India on Wednesday announced that it has increased the maximum end of day balance for payment banks to ₹2 lakh. "The extant 'Guidelines for Licensing of Payments Banks' issued on November 27, 2014 allow payments banks to hold a maximum balance of ₹ 1 lakh …

Paytm Vs Airtel Money: This Is What I Discovered After The OTP Based KYC For Mobile Wallets Expires
4 years ago

Paytm Vs Airtel Money: This Is What I Discovered After The OTP Based KYC For Mobile Wallets Expires

News 18  

Digital payments and mobile wallets are serious business these days, as a crucial part of the government push towards cashless transactions. This is how it has always been since I got the physical KYC done for the Airtel Money wallet done a year ago, before buying the FASTag for the car. Secondly, why does the Airtel Money wallet not show …

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