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Tag: Paytm

  • After PVR, Paytm now partners with Cinepolis

    After PVR, Paytm now partners with Cinepolis

    MUMBAI: With an ever increasing focus on the entertainment arena, Paytm has partnered with Cinépolis, This move will allow Paytm users to book their movie tickets with 236+  plus Cinepolis screens across Cinépolis, Cinépolis VIP and Fun Cinemas.

    In March this year, another Indian movie exhibition major – PVR Theatres had entered into a strategic tie-up with Paytm through which it hopes to sell tickets worth Rs 300 crore on PayTM’s e-commerce platforms in the first year, besides selling tickets from ticket counters and other channels. The deal was part of PVR’s nationwide foray in the on-line movie ticket segment. 

    Paytm VP Renu Satti  said, “At Paytm, we are committed to bring to our consumers what they love the most. When it comes to entertainment, it goes without saying that online movie ticketing wins the race. With Cinepolis’ strong presence across the country, we aim to offer multiple alternatives to our cinema lovers.”

    Cinepolis business head for strategic initiatives Devang Sampat said, “We are passionate to create the best customer experience for our patrons. Paytm is one of the fastest growing mobile payment and commerce platforms in the country. This strategic partnership will help us increase our online outreach and enhance the overall customer experience.”

    Apart from this, Cinépolis India has aggressive plans of rolling out 400 screens by 2017. Cinépolis in India has been awarded with “Most Admired Retail Launch” in 2010, “Most Admired Retailer – Innovation” in 2011, “Fastest Growing Multiplex Chain” in 2015 and “Most Admired Retailer – Entertainment” in 2015, “DLP Marketing Achievement Award” in 2015.

  • Paytm partners with Wipro for its payments bank business

    Paytm partners with Wipro for its payments bank business

    MUMBAI:  Paytm has joined hands with Wipro  to create the requisite technology infrastructure for its upcoming Payments Bank business.

    Wipro will be implementing the core banking solution for Paytm and also programme managing the integration of other key systems like the anti-money laundering solution and the regulatory reporting solution. Wipro will play a crucial role in helping Paytm interface its existing systems with the core banking solution. It will also put in place and manage the data centers for the Payment Bank in order to ensure smooth functioning of the new unit.

    Speaking on the association, Paytm Payments Bank  CEO Designate Shinini Kumar said, “Technology is an integral part of the value proposition we seek to create for customers of our upcoming bank and we are happy to announce that we will be partnering with Wipro. They have a demonstrated track record in banking technology in India that will be important in ensuring that our innovative solutions are integrated with core banking systems in a compliant and secure manner, creating the right platform for service delivery at large scale. We are a young and agile organization and the Wipro team has demonstrated the agility and flexibility that will be necessary to make this partnership meaningful.”

     Wipro Limited India & Middle East Markets president Soumitro Ghosh also added, “Paytm is making steady strides towards its larger vision of financial inclusion in the country. Its Payments Bank is another step in this direction and we are happy to partner with them in their endeavor.”

  • Paytm partners with Wipro for its payments bank business

    Paytm partners with Wipro for its payments bank business

    MUMBAI:  Paytm has joined hands with Wipro  to create the requisite technology infrastructure for its upcoming Payments Bank business.

    Wipro will be implementing the core banking solution for Paytm and also programme managing the integration of other key systems like the anti-money laundering solution and the regulatory reporting solution. Wipro will play a crucial role in helping Paytm interface its existing systems with the core banking solution. It will also put in place and manage the data centers for the Payment Bank in order to ensure smooth functioning of the new unit.

    Speaking on the association, Paytm Payments Bank  CEO Designate Shinini Kumar said, “Technology is an integral part of the value proposition we seek to create for customers of our upcoming bank and we are happy to announce that we will be partnering with Wipro. They have a demonstrated track record in banking technology in India that will be important in ensuring that our innovative solutions are integrated with core banking systems in a compliant and secure manner, creating the right platform for service delivery at large scale. We are a young and agile organization and the Wipro team has demonstrated the agility and flexibility that will be necessary to make this partnership meaningful.”

     Wipro Limited India & Middle East Markets president Soumitro Ghosh also added, “Paytm is making steady strides towards its larger vision of financial inclusion in the country. Its Payments Bank is another step in this direction and we are happy to partner with them in their endeavor.”

  • PayTM’s Vijay Shekhar Sharma to chair IAMAI Payments Banks Group

    PayTM’s Vijay Shekhar Sharma to chair IAMAI Payments Banks Group

    Mumbai: PayTM founder Vijay Shekhar Sharma will chair the newly formed Payments Banks Group at the Internet and Mobile Association of India (IAMAI) while Vodafone India business head (M-Pesa) Suresh Sethi will be the vice-chairman of the group.

    Commenting on the development, Sharma said, “Payments Banks is an innovative model of bringing unbanked population into the formal banking fold. PayTM along with other license holders, would make financial services accessible for every Indian through this innovative route.”

    Currently, 6 out of the 10 payments banks’ primary licensees are IAMAI members. According to President Subho Ray, “the other 4 primary licensees have in principal agreed to join when they are in operation.”

    In addition, IAMAI has more than 50 companies representing PPIs, Wallets, Aggregators, Business Correspondents, and PoS Operators among others as members.

     

  • PayTM’s Vijay Shekhar Sharma to chair IAMAI Payments Banks Group

    PayTM’s Vijay Shekhar Sharma to chair IAMAI Payments Banks Group

    Mumbai: PayTM founder Vijay Shekhar Sharma will chair the newly formed Payments Banks Group at the Internet and Mobile Association of India (IAMAI) while Vodafone India business head (M-Pesa) Suresh Sethi will be the vice-chairman of the group.

    Commenting on the development, Sharma said, “Payments Banks is an innovative model of bringing unbanked population into the formal banking fold. PayTM along with other license holders, would make financial services accessible for every Indian through this innovative route.”

    Currently, 6 out of the 10 payments banks’ primary licensees are IAMAI members. According to President Subho Ray, “the other 4 primary licensees have in principal agreed to join when they are in operation.”

    In addition, IAMAI has more than 50 companies representing PPIs, Wallets, Aggregators, Business Correspondents, and PoS Operators among others as members.

     

  • India’s sports sponsorship grew to Rs 51,854 million in 2015; PayTM, Hero, CEAT and MRF emerge as big spenders

    India’s sports sponsorship grew to Rs 51,854 million in 2015; PayTM, Hero, CEAT and MRF emerge as big spenders

    MUMBAI: For those you are into sports, be it for the love of the game or love of the business that revolves around it, the welcome news is that  India has set itself to become a sporting nation that thrives not only on cricket but number of other sports as well. India with a thriving culture around sports is not a distant mirage but a near reality. The figures in the  3rd edition of Sporting Nation In The Making – III is a testament to this growth.

    This comprehensive report compiled by GroupM’s entertainment and sports arm ESP Properties and SportzPower shows that sports sponsorship in India has grown from Rs 46,165 million (Rs 4,616.50 crore) in 2014 to Rs 51,854 million (Rs 5,185.40 crore) in 2015 accounting for 10.4 per cent of the total Indian advertising expenditure. That is a  whooping 12.3 per cent growth.

    ESP Properties business head Vinit Karnik emphasised how sports can be harnessed as a successful communication medium by brands. He said, “There is definitely a cultivated sense of understanding between corporate sponsors, sports teams and federations. A symbiotic marketing relationship has emerged within the sporting ecosystem in India. 2016 will be fantastic for not only players and federations, but also for brands and spectators, with a deeper engagement with sporting properties.”

    Despite the challenges, ICC World Cup managed to garner Rs 5000 million (Rs 500 crore) in advertising revenues in 2015. On air sponsorships over all increased by 6.8 per cent YoY from Rs 25,180 million (Rs 2,518 crore) to Rs 26,900 million (Rs 2,690 crore). Out of which, 30 to 35 per cent was contributed by the emerging sports in India, while cricket took the bulk of the share.

    Interestingly, only  30 percent of the growth came from On Air deals, while the rest of the 70 percent came from  on ground sponsorships, team sponsorships, franchise fee and athlete’s brand endorsement deals, with on ground seeing  most of the action. It grew by 30 per cent from Rs 7948 million (Rs 794.80 crore) to Rs 10,305 million (Rs 1,030.50 crore).

    Though cricket bit the biggest chunk off this sponsorship pie, emerging sports leagues were the real growth drivers. Going by the figures roughly 51.38 per cent of the on ground sponsorship share was cricket’s contribution while the rest was all emerging sports.

    “Sports other than cricket have successfully established themselves in terms of revenue and fandom within the Indian sporting firmament,” SportzPower co founder Thomas Abraham shared. “Sports like kabaddi andfFootball have massively increased sponsorship revenues in 2015 and we saw return editions of sports like tennis and hockey as well. The successful launch of the Pro Wrestling League bodes well for 2016, which will see the advent of more franchise based leagues. We expect 2016 to be a good year for cricket as well as other sports, generating ad spends and clocking in corporate investments at an exponential pace,” he added.

    Infact, football saw an amazing 91.6 per cent sponsorship growth from the previous year valuing it at Rs 1140 million (Rs 114 crore) in 2015.  The biggest success story is perhaps Pro Kabaddi League, which grew by 300 per cent YoY and clocked at Rs 480 million (Rs 48 crore) in on ground sponsorship deals without a title sponsor. As per Karnik, it was a clever strategy by the broadcaster to not lock down their title sponsor and raise the bar for the next season.

    eCommerce brands took the lead as top spenders in the total ad spends on sports in 2015, followed closely by automobile brands. PayTM, CEAT Tyres and MRF Tyres together contributed Rs 1078 million (Rs 107.8 crore) per year, increasing cricket’s on ground ad spends by 14 per cent.

    Endorsements played a huge role in upping the sponsorship ante in 2015 with the sector seeing 27 per cent growth. The biggest endorsement deal was undoubtedly Tata Motors’ bringing Lionel Messi onboard on a two year deal of worth Rs 600 million (Rs 60 crore) per year. 2015 also saw Virat Kohli entering the Rs 1,000 million (Rs 100 crore) endorsement club that God Of Cricket Tendulkar and MS Dhoni earlier ruled.

    “Women are ruling the endorsement game when it comes to non-cricketing sports,” said Karnik. “Between Saina Nehwal, Sania Mirza and MC Mary Kom, the ladies share almost 40 per cent of the endorsement spends in the market with over 10 brands in each player’s kitty.” Abraham credited their sophisticated and enthusiastic engagement of fans over social media to be the driving factor apart from their continued  good performance throughout the year.

    The stress on digital, and social engagement is reiterated by both Abraham and Karnik as critical to players and teams as stats show that 70 percent of fans bring mobile phones to the stadium to share their experience, while 46 percent of mobile internet users search for sports related news and content online.

    Karnik calls 2016 to be the year of the fans and points out two key trends that will drive growth in the sector. “Now that we have sowed the seeds of a sporting nation in India, 2016 will see a great synergy between broadcasters, association’s, franchise owners, players and all other stakeholders to come together to build a culture around sports and build the fanbase. Secondly longer seasons or play for they sport will give more opportunities for brands to engage with the fans,” shared Karnik, adding that Pro Kabaddi League will see two seasons this year. Abraham on the other hand names volleyball to be the next big entrant in emerging sports league scene, which will launch with three separate sub-leagues to its name — beach volleyball, men’s volleyball and women’s volleyball league.

  • India’s sports sponsorship grew to Rs 51,854 million in 2015; PayTM, Hero, CEAT and MRF emerge as big spenders

    India’s sports sponsorship grew to Rs 51,854 million in 2015; PayTM, Hero, CEAT and MRF emerge as big spenders

    MUMBAI: For those you are into sports, be it for the love of the game or love of the business that revolves around it, the welcome news is that  India has set itself to become a sporting nation that thrives not only on cricket but number of other sports as well. India with a thriving culture around sports is not a distant mirage but a near reality. The figures in the  3rd edition of Sporting Nation In The Making – III is a testament to this growth.

    This comprehensive report compiled by GroupM’s entertainment and sports arm ESP Properties and SportzPower shows that sports sponsorship in India has grown from Rs 46,165 million (Rs 4,616.50 crore) in 2014 to Rs 51,854 million (Rs 5,185.40 crore) in 2015 accounting for 10.4 per cent of the total Indian advertising expenditure. That is a  whooping 12.3 per cent growth.

    ESP Properties business head Vinit Karnik emphasised how sports can be harnessed as a successful communication medium by brands. He said, “There is definitely a cultivated sense of understanding between corporate sponsors, sports teams and federations. A symbiotic marketing relationship has emerged within the sporting ecosystem in India. 2016 will be fantastic for not only players and federations, but also for brands and spectators, with a deeper engagement with sporting properties.”

    Despite the challenges, ICC World Cup managed to garner Rs 5000 million (Rs 500 crore) in advertising revenues in 2015. On air sponsorships over all increased by 6.8 per cent YoY from Rs 25,180 million (Rs 2,518 crore) to Rs 26,900 million (Rs 2,690 crore). Out of which, 30 to 35 per cent was contributed by the emerging sports in India, while cricket took the bulk of the share.

    Interestingly, only  30 percent of the growth came from On Air deals, while the rest of the 70 percent came from  on ground sponsorships, team sponsorships, franchise fee and athlete’s brand endorsement deals, with on ground seeing  most of the action. It grew by 30 per cent from Rs 7948 million (Rs 794.80 crore) to Rs 10,305 million (Rs 1,030.50 crore).

    Though cricket bit the biggest chunk off this sponsorship pie, emerging sports leagues were the real growth drivers. Going by the figures roughly 51.38 per cent of the on ground sponsorship share was cricket’s contribution while the rest was all emerging sports.

    “Sports other than cricket have successfully established themselves in terms of revenue and fandom within the Indian sporting firmament,” SportzPower co founder Thomas Abraham shared. “Sports like kabaddi andfFootball have massively increased sponsorship revenues in 2015 and we saw return editions of sports like tennis and hockey as well. The successful launch of the Pro Wrestling League bodes well for 2016, which will see the advent of more franchise based leagues. We expect 2016 to be a good year for cricket as well as other sports, generating ad spends and clocking in corporate investments at an exponential pace,” he added.

    Infact, football saw an amazing 91.6 per cent sponsorship growth from the previous year valuing it at Rs 1140 million (Rs 114 crore) in 2015.  The biggest success story is perhaps Pro Kabaddi League, which grew by 300 per cent YoY and clocked at Rs 480 million (Rs 48 crore) in on ground sponsorship deals without a title sponsor. As per Karnik, it was a clever strategy by the broadcaster to not lock down their title sponsor and raise the bar for the next season.

    eCommerce brands took the lead as top spenders in the total ad spends on sports in 2015, followed closely by automobile brands. PayTM, CEAT Tyres and MRF Tyres together contributed Rs 1078 million (Rs 107.8 crore) per year, increasing cricket’s on ground ad spends by 14 per cent.

    Endorsements played a huge role in upping the sponsorship ante in 2015 with the sector seeing 27 per cent growth. The biggest endorsement deal was undoubtedly Tata Motors’ bringing Lionel Messi onboard on a two year deal of worth Rs 600 million (Rs 60 crore) per year. 2015 also saw Virat Kohli entering the Rs 1,000 million (Rs 100 crore) endorsement club that God Of Cricket Tendulkar and MS Dhoni earlier ruled.

    “Women are ruling the endorsement game when it comes to non-cricketing sports,” said Karnik. “Between Saina Nehwal, Sania Mirza and MC Mary Kom, the ladies share almost 40 per cent of the endorsement spends in the market with over 10 brands in each player’s kitty.” Abraham credited their sophisticated and enthusiastic engagement of fans over social media to be the driving factor apart from their continued  good performance throughout the year.

    The stress on digital, and social engagement is reiterated by both Abraham and Karnik as critical to players and teams as stats show that 70 percent of fans bring mobile phones to the stadium to share their experience, while 46 percent of mobile internet users search for sports related news and content online.

    Karnik calls 2016 to be the year of the fans and points out two key trends that will drive growth in the sector. “Now that we have sowed the seeds of a sporting nation in India, 2016 will see a great synergy between broadcasters, association’s, franchise owners, players and all other stakeholders to come together to build a culture around sports and build the fanbase. Secondly longer seasons or play for they sport will give more opportunities for brands to engage with the fans,” shared Karnik, adding that Pro Kabaddi League will see two seasons this year. Abraham on the other hand names volleyball to be the next big entrant in emerging sports league scene, which will launch with three separate sub-leagues to its name — beach volleyball, men’s volleyball and women’s volleyball league.

  • PVR hopes for Rs 300 crore ticket sales through PayTM in first year

    PVR hopes for Rs 300 crore ticket sales through PayTM in first year

    NEW DELHI: PVR Theatres, which had entered into a strategic tie-up with PayTM  few days ago, hopes to sell tickets worth Rs 300 crore on PayTM’s e-commerce platforms in the first year, besides selling tickets from ticket counters and other channels.

    PVR Joint Managing Director Sanjeev Kumar Bijli told  indiantelevision.com  in an exclusive chat that this was a strategic business tie–up and therefore refused to comment about the monetary portion of the deal.

    The deal was part of PVR’s nationwide foray in the on-line movie ticket segment. There will be a complete 360 effort to publicize the deal on all PVR’s 501 screens. The tie up would be visible on all PVR screens. PayTM is also launching a 360 degree campaign to publiclise the new deal.

    PayTM founder and CEO Vijay Shekhar Sharma, while declining to give any specific figures for the campaign on his company’s deal with PVR  told indiantelevision.com that PayTM had spent Rs 1,670 crore on marketing in the previous year. He said that PVR would itself handle the marketing on its screens and PayTM would handle it outside.

    Asked how PayTM would be different from the PVR App or bookmyshow.com,Sharma said that there would be less clicks for booking a ticket and there wouldbe cash backs on every booking along with loyalty premiums. At a later stage, snacks during intervial could also come through PayTM, thus reducing huge queues.

    He also said that PayTM had 125 million (12.5 crore) registered users andhandled 90 million  (9 crore) orders per month and it would benefit from this tie-up, with PVR getting a different clientele than that normally queues online or offline for cinema tickets.

    Earlier this week at a press meet during which the tieup was announced,Sharma had described the PVR chain as the most marquee brand to tie-up with PayTM.

    Answering a question, Sharma had said that around 3.5 million (35 lakh) tickets are sold online daily in China, and there should be no reason for Indians not following suit.

    PVR’s Bijli said the new tie-up also included trailers of the films to be released in two or three months on the PayTM app, thus covering films that were running and those still to be released. This would help the viewer to decide on the film that should be seen.

    PVR chief of strategy Kamal Gianchandani said that the aim was to take online bookings up to sixty per cent. At present, around one-third of the buyers take their tickets online. When asked about whether any seats were kept out of the ambit of online bookings, he said these number was less than ten for any last minute bookings and are opened half hour before the show.

    PayTM is the first e-commerce site to add cinema booking as a category,Gianchandani said, adding that this would add to the user experience for the ease in booking tickets.

  • PVR hopes for Rs 300 crore ticket sales through PayTM in first year

    PVR hopes for Rs 300 crore ticket sales through PayTM in first year

    NEW DELHI: PVR Theatres, which had entered into a strategic tie-up with PayTM  few days ago, hopes to sell tickets worth Rs 300 crore on PayTM’s e-commerce platforms in the first year, besides selling tickets from ticket counters and other channels.

    PVR Joint Managing Director Sanjeev Kumar Bijli told  indiantelevision.com  in an exclusive chat that this was a strategic business tie–up and therefore refused to comment about the monetary portion of the deal.

    The deal was part of PVR’s nationwide foray in the on-line movie ticket segment. There will be a complete 360 effort to publicize the deal on all PVR’s 501 screens. The tie up would be visible on all PVR screens. PayTM is also launching a 360 degree campaign to publiclise the new deal.

    PayTM founder and CEO Vijay Shekhar Sharma, while declining to give any specific figures for the campaign on his company’s deal with PVR  told indiantelevision.com that PayTM had spent Rs 1,670 crore on marketing in the previous year. He said that PVR would itself handle the marketing on its screens and PayTM would handle it outside.

    Asked how PayTM would be different from the PVR App or bookmyshow.com,Sharma said that there would be less clicks for booking a ticket and there wouldbe cash backs on every booking along with loyalty premiums. At a later stage, snacks during intervial could also come through PayTM, thus reducing huge queues.

    He also said that PayTM had 125 million (12.5 crore) registered users andhandled 90 million  (9 crore) orders per month and it would benefit from this tie-up, with PVR getting a different clientele than that normally queues online or offline for cinema tickets.

    Earlier this week at a press meet during which the tieup was announced,Sharma had described the PVR chain as the most marquee brand to tie-up with PayTM.

    Answering a question, Sharma had said that around 3.5 million (35 lakh) tickets are sold online daily in China, and there should be no reason for Indians not following suit.

    PVR’s Bijli said the new tie-up also included trailers of the films to be released in two or three months on the PayTM app, thus covering films that were running and those still to be released. This would help the viewer to decide on the film that should be seen.

    PVR chief of strategy Kamal Gianchandani said that the aim was to take online bookings up to sixty per cent. At present, around one-third of the buyers take their tickets online. When asked about whether any seats were kept out of the ambit of online bookings, he said these number was less than ten for any last minute bookings and are opened half hour before the show.

    PayTM is the first e-commerce site to add cinema booking as a category,Gianchandani said, adding that this would add to the user experience for the ease in booking tickets.

  • Paytm appoints Alibaba’s Bhushan Patil as new president

    Paytm appoints Alibaba’s Bhushan Patil as new president

    MUMBAI: Paytm, mobile payment and commerce platform, has appointed Bhushan Patil as its new president. Patil will focus on building the company’s cross border commerce. Paytm’s Indian business aims to sell $2 billion worth of products in 2016 and is looking at growing its sellers to 5 lakh from 1.7 lakh currently. Paytm has a current user base of more than 12.5 crore, and is on a mission to bring about 50 crore Indians to the mainstream economy using mobile payment, commerce and soon-to-be launched payment banking services. Through the hiring, the company also aims at expanding outside India

    Patil has served for over five years and held the position of head of wholesale business at Alibaba Holdings group (the Chinese online e-Commerce giant alibaba.com). As a major accomplishment Patil has incepted, led and launched B2B Trade-Trust products across 50 countries in Asia, Europe and America and was instrumental for developing new India plans for Alibaba.com’s B2B business.

    “It is indeed an honour to be a part of the Paytm vision and strategy, both towards national cashless economy, and the plan to take Paytm overseas. I’m thrilled to come on board at one of the fastest scaling payments and commerce platforms in the country and look forward to a mutually successful tenure at Paytm,” said Patil.

    Talking about the new appointment, Paytm CEO and founder Vijay Shekhar Sharma said, “We want to offer Indian merchants a compelling commerce platform and Bhushan brings incredible experience of building cross border commerce. It will help Indian merchants to sell globally too. As Paytm continues to grow at an exponential pace, it is important for Paytm to expand its operations outside India for further development. We welcome him to be a part of Paytm’s go big, go global strategy”.