Tag: Paytm

  • 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”.

     

  • Smartphone becomes popular payment wallet in India: Nielsen

    Smartphone becomes popular payment wallet in India: Nielsen

    MUMBAI There is no denying the fact that the smartphone has become an incredibly powerful tool of information, content and entertainment. And now it is rapidly growing to become a wallet, especially in India, with Paytm having the highest penetration as of December 2015 as per a Nielsen report.

    According to data from Nielsen Informate Mobile Insights, the most popular mobile payment apps in terms of time spent, are those that provide services over and above pure payment like mobile recharging, ability to book movie tickets, shopping and so on. This ability to multitask creates a ‘sticky’ factor with users.

    For most marketers, mobile payments have largely been considered a product for developed markets, but based on current trends in India they hold just as much appeal in developing markets. With over 6 billion mobile users, and with 4G entering the market, internet proliferation is expected to reach an all-time high in 2016. Putting the same in perspective with the findings of UK based Juniper Research, the adoption of mobile payment is projected to be strong.

    More than one in three mobile wallets and over 50 per cent in developed markets, will feature contactless payment by 2018, says the research. The popularity of such apps has risen from over one-in-five active users last year to over one in every two users this year. 

    An analysis of real time metered smartphone usage data with Nielsen Informate Mobile Insights reveals how Indian consumers are using mobile payment apps. Overall time spent on mobile payment apps has increased by nearly 1.5x, with users spending an hour and a half on mobile payment apps every month.

    The study has also observed certain trends that have emerged in the Indian market:

    Males drive the mobile payment category on smartphones

    Mobile wallets have made transactions effortless, and more men seem to have embraced this concept than women. Mobile payment apps are 1.2 times more popular among men than women, and men are twice more engaged with these apps than women.

    Small Town Buzz

    Nielsen’s findings indicate that even though the penetration of mobile payment apps among users is similar across towns of all sizes (60 per cent of those in large towns and 58 per cent in small town use them), usage is higher among tier I and tier II users, with these consumers spending 109 minutes a month on these apps.

    Less Is More

    As per experts, the key to accelerate mobile payment app adoption is to make the payment process simple for the consumer. The less information the consumer has to manually enter, the better the adoption rate is. The other key factors that limit consumers’ willingness to use mobile payments include trust, convenience and unstable data connectivity.

  • Smartphone becomes popular payment wallet in India: Nielsen

    Smartphone becomes popular payment wallet in India: Nielsen

    MUMBAI There is no denying the fact that the smartphone has become an incredibly powerful tool of information, content and entertainment. And now it is rapidly growing to become a wallet, especially in India, with Paytm having the highest penetration as of December 2015 as per a Nielsen report.

    According to data from Nielsen Informate Mobile Insights, the most popular mobile payment apps in terms of time spent, are those that provide services over and above pure payment like mobile recharging, ability to book movie tickets, shopping and so on. This ability to multitask creates a ‘sticky’ factor with users.

    For most marketers, mobile payments have largely been considered a product for developed markets, but based on current trends in India they hold just as much appeal in developing markets. With over 6 billion mobile users, and with 4G entering the market, internet proliferation is expected to reach an all-time high in 2016. Putting the same in perspective with the findings of UK based Juniper Research, the adoption of mobile payment is projected to be strong.

    More than one in three mobile wallets and over 50 per cent in developed markets, will feature contactless payment by 2018, says the research. The popularity of such apps has risen from over one-in-five active users last year to over one in every two users this year. 

    An analysis of real time metered smartphone usage data with Nielsen Informate Mobile Insights reveals how Indian consumers are using mobile payment apps. Overall time spent on mobile payment apps has increased by nearly 1.5x, with users spending an hour and a half on mobile payment apps every month.

    The study has also observed certain trends that have emerged in the Indian market:

    Males drive the mobile payment category on smartphones

    Mobile wallets have made transactions effortless, and more men seem to have embraced this concept than women. Mobile payment apps are 1.2 times more popular among men than women, and men are twice more engaged with these apps than women.

    Small Town Buzz

    Nielsen’s findings indicate that even though the penetration of mobile payment apps among users is similar across towns of all sizes (60 per cent of those in large towns and 58 per cent in small town use them), usage is higher among tier I and tier II users, with these consumers spending 109 minutes a month on these apps.

    Less Is More

    As per experts, the key to accelerate mobile payment app adoption is to make the payment process simple for the consumer. The less information the consumer has to manually enter, the better the adoption rate is. The other key factors that limit consumers’ willingness to use mobile payments include trust, convenience and unstable data connectivity.

  • India-Sri Lanka T20 game on Star Sports sets 5-year viewership benchmark

    India-Sri Lanka T20 game on Star Sports sets 5-year viewership benchmark

    MUMBAI: The second game of the PayTM T20 India vs. Sri Lanka series, broadcast on the Star Sports network, has become the highest-rated T20 international in the past five years. The match, won comprehensively by India, rated 256 TVM, according to BARC Panel CS4+ Urban calculations, surpassing the 112 TVM mark set by the India vs. Pakistan first T20 game in 2012.

    Anticipation was high heading into the game as Sri Lanka had dealt India a crushing defeat in the opening tie. A close game appeared to be on the cards but India’s batting order, led by a charge from southpaw Shikhar Dhawan, systematically picked apart Sri Lanka’s fearsome bowling attack on a dusty Ranchi pitch. The hosts scored 196, a total that proved insurmountable for Sri Lanka, with the visitors falling 69 runs short of the target.

    Despite the promise of a hard-fought game going unfulfilled, India’s dominant performance kept fans entertained. The ratings the match garnered, which followed the crushing defeat India dealt Australia last month on their home turf, sets the stage for the next few months of explosive T20 action still to come with the Asia Cup, ICC World T20 and the IPL all set to further whet viewer appetite for the shorter version of the game.

    Star India COO Sanjay Gupta said, “This is a fantastic start to the T20 season of cricketainement that will be available on Star Sports up ahead. We have got the Asia Cup being played in the T20 format for the very first time, followed by India playing host to the ICC World T20, with the Vivo IPL closing the exciting T20 season. All the action from these tournaments will be broadcast live on Star Sports with the IPL available on hotstar. India fans can expect a thoroughly enriched and immersive viewing experience this T20 season with innovations that will light up screens across platforms.”

    Viewership garnered by the India-Sri Lanka match is reflective of a surge in interest in the shorter version of the game. T20 is fast becoming India’s most-loved format of play and data shows fans have been enthusiastically lapping up the action from recent T20 series including the India-South Africa and India-Australia contests. This trend is also evident on digital channels with Hotstar, recording a 1.5 times higher watch time per viewer on all the recent T20 series than last year’s edition of the IPL 2015.

  • India-Sri Lanka T20 game on Star Sports sets 5-year viewership benchmark

    India-Sri Lanka T20 game on Star Sports sets 5-year viewership benchmark

    MUMBAI: The second game of the PayTM T20 India vs. Sri Lanka series, broadcast on the Star Sports network, has become the highest-rated T20 international in the past five years. The match, won comprehensively by India, rated 256 TVM, according to BARC Panel CS4+ Urban calculations, surpassing the 112 TVM mark set by the India vs. Pakistan first T20 game in 2012.

    Anticipation was high heading into the game as Sri Lanka had dealt India a crushing defeat in the opening tie. A close game appeared to be on the cards but India’s batting order, led by a charge from southpaw Shikhar Dhawan, systematically picked apart Sri Lanka’s fearsome bowling attack on a dusty Ranchi pitch. The hosts scored 196, a total that proved insurmountable for Sri Lanka, with the visitors falling 69 runs short of the target.

    Despite the promise of a hard-fought game going unfulfilled, India’s dominant performance kept fans entertained. The ratings the match garnered, which followed the crushing defeat India dealt Australia last month on their home turf, sets the stage for the next few months of explosive T20 action still to come with the Asia Cup, ICC World T20 and the IPL all set to further whet viewer appetite for the shorter version of the game.

    Star India COO Sanjay Gupta said, “This is a fantastic start to the T20 season of cricketainement that will be available on Star Sports up ahead. We have got the Asia Cup being played in the T20 format for the very first time, followed by India playing host to the ICC World T20, with the Vivo IPL closing the exciting T20 season. All the action from these tournaments will be broadcast live on Star Sports with the IPL available on hotstar. India fans can expect a thoroughly enriched and immersive viewing experience this T20 season with innovations that will light up screens across platforms.”

    Viewership garnered by the India-Sri Lanka match is reflective of a surge in interest in the shorter version of the game. T20 is fast becoming India’s most-loved format of play and data shows fans have been enthusiastically lapping up the action from recent T20 series including the India-South Africa and India-Australia contests. This trend is also evident on digital channels with Hotstar, recording a 1.5 times higher watch time per viewer on all the recent T20 series than last year’s edition of the IPL 2015.

  • Paytm hires ITC’s Varun Khullar as head of partnerships – payments bank

    Paytm hires ITC’s Varun Khullar as head of partnerships – payments bank

    MUMBAI: Paytm has hired former ITC executive Varun Khullar for its payments bank business. 

     

    Khullar will lead the partnerships division and will be responsible for building relationships with potential partners such as insurance companies, banks and non-banking financial institutions.

     

    Prior to joining Paytm, Khullar, an alumnus of IIT Madras and Indian School of Business, Hyderabad, worked with companies like Boston Scientific Corporation, McKinsey & Co and ITC. 

     

    Paytm vice president Amit Sinha said, “We are looking at building a robust leadership team for our Payments Bank business over the next three – four months. Varun’s professional career, his rich experience and demonstrated dynamism in an evolving business eco-system is the perfect combination for us at this juncture. We’re pleased to have him on board to head the partnerships division of our upcoming business.”

     

    Khullar added, “Paytm’s proposed Payments Bankis in sync with the national vision of a cashless economy with greater financial inclusion for all. It is indeed an honour to be a part of this vision. I’m thrilled to come on board at one of the fastest scaling m-commerce and payments platforms in the country and look forward to a mutually successful tenure at Paytm.”

     

    Khullar’s appointment comes three weeks after Paytm brought Amazon India’s Vikas Purohit on board in a similar leadership position for its Payments Bank. The company aims to recruit 3,000 people for the business and has also enlisted the services of management consulting majors, Ernst & Young and McKinsey& Co to help in the rollout.

  • IAMAI to host summit on Digital Money for Digital India

    IAMAI to host summit on Digital Money for Digital India

    MUMBAI: India’s internet economy is flourishing rapidly. With over 350 million internet users and over 213 million mobile internet users the future of digital in India seems to be bright.

     

    With the growth of digital commerce, the digital payment industry has shown steady growth. According to IAMAI-IMRB’s Digital Commerce 2015 Report, 45 per cent of the online shoppers prefer cash on delivery as a mode of payment, 21 per cent prefer payment through debit card and 16 per cent via credit card. The other modes of payment, which are used are Internet Banking (10 per cent) as well as prepaid cash cards, mobile wallets etc (8 per cent).

     

    With this framework, Digital Money 2015 Summit with the theme – Digital Money for Digital India – organized by the Internet and Mobile Association of India (IAMAI), gains significance.

     

    The digital economy cannot be overlooked as various forms of digital payment are taking significance in India. digital payment is no longer restricted to e-commerce transactions now. White label ATMs, payment banks, mobile wallets, POS are all part of the digital payment ambit.

     

    With different social sectors schemes by government and digital India gaining prominence and priority, this year’s Digital Money Summit has relevance like never before. While there are many industry leaders who will be speaking at the summit, the special address by eminent economist and Niti Ayog member Bibek Debroy is significant, as very few can be expressive like him on the importance of digital payment in the backdrop of digital India.

     

    The Digital Money Summit will have industry representation from bankers, payment banks, and mobile wallets among others. The day long summit will have speakers like Bank of India chairman G Padmanabhan; PayTM founder Vijay Shekhar Sharma; ItzCash Card chairman and managing director Naveen Surya; RBL Bank head – strategy Rajeev Ahuja and Fino Paytech managing director and CEO Rishi Gupta. 

     

    Speaking about the Digital Money 2015 Summit, IAMAI president Dr. Subho Ray said, “India is in the cusp of digital revolution. No longer is digital payment a phenomenon of the urban elite. Today, the digital payment platform is the biggest enabler of financial inclusion. The summit this year will be interesting from the perspective of emergence of the platform and its relevance in digital India program.”

     

    By keeping accord with the theme, Digital Money 2015 Summit will have sessions like Investor’s view on digital payments industry in India. They sessions will focus on Digital Money for Digital India – How can both complement each other?; E-Commerce – paving the way for digital money in India; Mobile money in India – the road map for growth; Payments banks – moving towards differentiated banking; etc.

  • Star Sports pockets Rs 150+ crore in sponsorship for India – SA cricket series

    Star Sports pockets Rs 150+ crore in sponsorship for India – SA cricket series

    MUMBAI: Star India president – sports Nitin Kukreja is a happy man. With three co-presenting sponsors and seven associate sponsors on board for the India – South Africa cricket series, Star Sports has so far pocketed more than Rs 150 crore in sponsorships, even as more deals are being negotiated.

    Beginning 2 October, the Mahatma Gandhi – Nelson Mandela series will have three T20s, five ODIs and four Test matches, which will be played over a span of two months. This in turn offers the channel a huge inventory to generate revenue.

    A source close to the development informs Indiantelevision.com that the three co-presenting sponsors for the series namely PayTM, Raymond and Lava have paid approximately Rs 20 crore each. On the other hand, the seven associate sponsors – Maruti Suzuki, Airtel, Idea, Intex Led TV, Hero, Pernod, and OLX have shelled out approximately Rs 13 crore each, taking the total amount that Star India has earned in sponsorship to Rs 151 crore. Moreover, the broadcaster is in final stages of negotiations with a few more brands for the India – South Africa series.

    In terms of ad rates, the 10 second slot during T-20 matches has been priced between Rs 2.5 – 3 lakhs. ODIs and Tests have been priced at Rs 1 lakh and Rs 70 thousand respectively, the source adds.

    This is PayTM’s first series in the four years title sponsor deal, which it earned by outbidding Micromax. PayTM sealed the deal for Rs 203.28 crore, which is to be paid over the four year term. Maxus in association with GroupM ESP properties was instrumental in cracking the deal for PayTM.

    Speaking to Indiantelevision.com, Maxus managing partner Navin Khemka says, “We could not have asked for a better series to kickstart the deal. It’s bang in the middle of the festive season, a period where brands spend maximum. The success or failure of the cricket series will be decided by the quality of cricket played on the field.”

    CAA Kwan COO Indranil Das Blah is of the opinion that the series will spell success for BCCI and broadcaster Star Sports. “India VS South Africa is a marquee contest and hence advertisers and sponsors will show interest in the initial stages but the annual fate will depend on the performance. The festive season is when brands unveil a lot of new launches, so timing-wise, it cannot be better,” he says.

    Another media planner with condition of anonymity adds, “To me, the Rs 20 crore figure seems inflated. I think Rs 13 – 14 crore is what they are getting and that’s a good bet. If the series starts well, the numbers will be delightful for Star. The ad rates are realistic and can go much higher for last moment entrants if the series gets poised.”

  • Indian brands eye 25% increase in mobile marketing spends

    Indian brands eye 25% increase in mobile marketing spends

    MUMBAI: In this ever changing and developing world, which is led by technological advancements, brands need to constantly re-examine their strategies and explore the full extent of the tools at their disposal. In a scenario like this, the key to the mobile marketing industry’s success is for brands to take a focused and consumer-centric approach.

     

    What’s more, according to a research called “State of the industry – mobile marketing in India” conducted by WARC in conjunction with Mobile Marketing Association (MMA), around 75 per cent of Indian marketers are looking to raise their mobile marketing spends to 25 per cent from this year from 10 per cent or less from the previous years. What’s more, the number might even hit 50 per cent in the next five years.

     

    According to WARC Asia Pacific MD Edward Pank, the study indicated that Hindustan Unilever was the most innovative mobile brand in the country followed closely by Flipkart, Samsung, Amazon and Paytm while Telecom and Retail ead the way in terms of innovation and location based marketing.

     

    The annual MMA Forum India 2015, which was held in Gurgaon recently, was themed ‘Acquiring, Reaching and Engaging the Right Consumers through Mobile.’ The forum saw speakers from brands, agencies and technology companies, dissecting successful and innovative brand campaigns over the previous year to highlight the importance and effectiveness of mobile within the marketing mix.

     

    “Capability-building and innovation are key to the success of the mobile marketing industry. In light of the rapid evolution of technology, it’s important for brands to take a focused and consumer-centric approach to mobile,” said MMA Asia Pacific managing director Rohit Dadwal.

     

    The MMA Forum India 2015 kicked off with a keynote session by Unilever regional vice president – media Rahul Weld, who discussed Unilever’s innovative approach to marketing and its success in reaching out to the targeted customer through effective strategies.

     

    Talking about the importance of “seizing the moment” when reaching out to the consumer, Google India industry director – e-commerce, retail, online classifieds and technology Nitin Bawankule said, “The most effective way to reach out to the consumer is to target them in time of their need. Every consumer looks for solutions on their mobile devices and strategic advertising are key to catching the consumer at this moment.”

     

    Media specialist and writer Vanita Kohli-Khandekar and Vserv co-founder & CEO Dippak Khurana brought to light the various aspects of mobile commerce, advertising and data that can help shrink the intent-purchase gap. 

     

    Talking about the need to share data to leverage its power to reach, engage and acquire the consumer, Khurana said that publishers with significant “consumer attention” will try to move to commerce and that while consumers in India have regularly demonstrated their appetite to pay through mobile, marketers have been shy of sharing data that could help them buy through mobile platforms, significantly limiting their success.

     

    Madhouse Inc founder & CEO Joshua Maa discussed the similarities and the difference between different Asian markets with a focus on India and China during his session – “No two markets are the same yet they are not different.” He covered aspects and opportunities where India could learn from China and vice versa.

     

    Group M CEO CVL Srinivas moderated a panel discussion with Pepsico India vice president – beverages category Vipul Prakash, ZEEL chief business officer Sunil Buch and OLX India CEO Amarjit Singh Batra, where they shared insights on becoming “mobile capable” and how media owners, brands and agencies can come together to build mobile insight and capability to achieve the desired level of maturity.

     

    Yahoo Asia Pacific senior director marketing Nitin Mathur unveiled the various aspects of Flurry, the mobile-analytics company acquired by Yahoo, and discussed its potential to influence the consumer by tracking their behaviour on apps and building personalised and relevant communication thereby highlighting the need for more such tools in the space.

     

    Opera Mediaworks Asia managing director Vikas Gulati illustrated the effectiveness of mobile devices in connecting brands and consumers by discussing the success of AskMeBazaar.com’s campaign with Askme India group CMO Manav Sethi and Findit Malaysia that was executed by Opera MediaWorks. Gulati discussed at length, the power that mobile empowers brands with, to control consumer behaviour as they are most intimate and used media device.

     

    As part of the MMA forum 2015, Madhouse – South Asia COO Milind Pathak introduced the winners of Madlabs, a platform introduced by Madhouse to showcase the innovative mobile communications and solutions in the startup ecosystem and espoused the effective use of mobile to reach out the targeted consumer.

     

    The MMA Forum was followed by the MMA’s mobile excellence awards program – SMARTIES India 2015 where the winners from 15 categories and five Industry awards were announced.

     

    Over 330 delegates and 34 industry leaders representing the mobile marketing ecosystem in the country came together for the day-long event to discuss and deliberate over the future of the industry.

  • PayTM top brand across Mumbai, Delhi, Bengaluru: CouponDunia

    PayTM top brand across Mumbai, Delhi, Bengaluru: CouponDunia

    MUMBAI: PayTM has emerged as the most popular brand among the age group of 25 – 34 in Mumbai, Bengaluru and Delhi as per CouponDunia’s half yearly report Decoding Metro Shoppers.

     

    The report highlights consumer shopping preferences and coupon redemption patterns of CouponDunia users in the above mentioned cities from January 2015 – June 2015.

     

    The report unveils interesting insights around choice of brands, device, categories, etc along with a geographical comparison of the patterns across three cities.

     

    Speaking exclusively to Indiantelevision.com CouponDunia COO Ankita Tandon said, “Being a consumer internet brand, we have a lot of analytical tools through, which we study various consumer insights. Using those tools, we sampled CouponDunia visitors and that’s how we collated the data and came to the observations.”

     

    There was no association with any marketing agency for data collection informed Tandon.

     

    “The power of being a consumer internet brand is data, and hence it will be a shame if we do not use the data to draw our business plan. We sit with the data, study it and then if we find that at a particular time a particular offer is doing well, we continue with it and if possible come up with better propositions,” informed Tandon.

     

    Commenting on the release of the report, Tandon said, “2015’s half yearly analysis emphasizes on how shoppers are embracing discount coupons and deals as part of their lifestyle to derive more value out of their shopping experiences. In this analysis we found that the shoppers use mobile more than any other device to access discount coupons. Shoppers in these three cities are using coupons extensively during weekends. With these trends, slowly and steadily we are heading towards our goal of inculcating the ‘habit of saving’ in every Indian shopper.”

     

    Interesting Consumer Insights from the Half Yearly CY 2015 report are as follows:

     

    Bengaluru Shoppers

     

    · Ola Cabs are most popular in Bengaluru than other cities

    · Friday is the most popular day across 3 cities to look up coupons for Recharges, Fashion, Dining and Commuting

    · PayTM is the most popular brand among the age group 25-34

    · In Bengaluru, most searched brands by men is ebay.in and by women is PayTM

    · Bangalore is the second city who prefers saving more by using coupons

    · Mobile penetration in Bengaluru is 68 per cent

    · Favourite days to shop are Tuesdays and Weekends

     

    Mumbai Shoppers 

     

    · Mobile penetration in Mumbai is 71 per cent; second largest city after New Delhi

    · PayTM is the most popular brand among the age group 25-34

    · Friday is the most popular day across three cities to look up coupons for Recharges, Fashion, Dining and Commuting

    · Favourite days to shop are Wednesday and Weekends

    · In Mumbai, most searched brands by men is PayTM and by women is Dominos

     

    Delhi Shoppers 

     

    · Delhi leads in mobile penetration with 76 per cent across other cities

    · Favourite days to shop are Wednesday and Weekends

    · In Delhi, most searched brands by men and women is PayTM

    · Delhi prefers saving more money by actively searching for coupons