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Tag: Paytm

  • Five companies redefining success with #VocalForLocal initiative

    Five companies redefining success with #VocalForLocal initiative

    Mumbai: In the spirit of #VocalForLocal, a movement that resonates deeply in India, companies across the nation are actively championing local businesses.

    Amid India’s growing emphasis on the #VocalForLocal movement, these companies shine brightly, demonstrating that expanding their global presence doesn’t mean compromising their local roots. They not only rejoice in the vibrant tapestry of Indian cultures but also play a pivotal role in nurturing and sustaining local businesses. These impactful campaigns go beyond fleeting trends, serving as a resounding reminder that championing homegrown art and artisans is a dynamic movement that not only captivates consumers within India but reverberates globally.

    Today, let’s turn our focus to five companies that have wholeheartedly embraced the #VocalForLocal ethos in India, seamlessly integrating it into their campaigns with authenticity and impact.

    Protium:

    Championing MSMEs: Protium takes center stage in the #VocalForLocal movement, advocating for and supporting micro, small, and medium enterprises (MSMEs). The campaign reflects their dedication to empowering small businesses, addressing the challenges they face in a competitive market, especially during festive season.

    Protium is guided by a strong moral compass to support small businesses, which often grapple with the challenges posed by intense competition and the allure of more expensive alternatives.

    Protium reaffirmed its commitment to the #VocalForLocal campaign, carrying forward the spirit that has ignited positive change over the past years. The campaign’s essence revolved around the idea of encouraging individuals to embrace and support local businesses, with a special focus on Micro, Small, and Medium Enterprises (MSMEs), the backbone of our nation’s economy.

    This resounding success of the campaign underscored Protium’s commitment to the #VocalForLocal principles, emphasizing that collective efforts truly empower small businesses and fortify our local economy.

    MobiKwik:

    Local merchant partnerships: MobiKwik, another prominent player in the Indian fintech space, has collaborated with local merchants to promote digital payments. Their initiatives often focus on supporting local businesses and driving financial inclusion, aligning with the #VocalforLocal campaign.

    MobiKwik’s strong focus on financial inclusion and commitment to serving traditionally underserved markets, such as tier two, three, and four cities, rural areas, and lower-income brackets, sets them apart from its peers. At MobiKwik, the digital payment services have been used in 19,103 pin codes out of 19,253 in India, covering 99.2% per cent of India’s PIN codes.

    At MobiKwik, innovation has been a driving force for us to differentiate ourselves in a highly competitive landscape.

    Paytm:

    Local Initiatives: Paytm, one of India’s leading fintech companies, has been active in promoting local businesses through its platform. They have supported various local campaigns, encouraging users to shop from nearby stores and promoting local merchants.

    PhonePe:

    Boost for Local Merchants: PhonePe, a popular digital payments platform, has been actively involved in initiatives to support local businesses. They have introduced features and campaigns to encourage users to transact with local merchants, contributing to the #VocalforLocal movement.

    Razorpay:

    Empowering small businesses: Razorpay, a fintech company specializing in payment solutions, has shown support for local businesses through various initiatives. They have provided tools and technologies that empower small businesses, aligning with the ethos of the #VocalforLocal movement.

  • Temptation Island India on JioCinema: Love, drama, and temptations!

    Temptation Island India on JioCinema: Love, drama, and temptations!

    Mumbai: JioCinema, India’s biggest entertainment destination, is all set to elevate the entertainment quotient for its viewers with the launch of the Indian adaptation of one of the world’s biggest reality formats, Temptation Island. Starting 3 November at 8 pm, the show will have two of the most seasoned personalities of Indian television, the stunning Mouni Roy play The Queen of Hearts and the relationship expert, and the charismatic Karan Kundrra takes charge as the host. In this ultimate Pyaar Ki Pariksha, Mouni will be guiding the contestants in their journey of self-discovery, while Karan will test the strength of the relationships. Social media’s most sensational stars, Elvish Yadav and Abhishek Malhan (Fukra Insaan) will also be seen together in the show, who will help the contestants explore connections in the villa. Temptation Island is an original format owned by the Banijay Group and is produced in India by Banijay Asia.

    Shot at an exotic tropical island, this unique social experiment will see couples tempted to sever old ties and explore new romances as they willfully separate in the Girls Villa and the Boys Villa and immerse themselves in an environment filled with irresistible allure. Surrounded by charming singles, they will grapple with their feelings, confront unfamiliar temptations, and delve into their deepest desires. Through the course of the show, the boys and the girls will explore new bonds through romantic dates, interesting activities, and theme parties that will help them understand each other better. The special bonfire segments as part of the special weekend episodes with Mouni Roy and Karan Kundrra will unfold all the drama and emotions as they will get a glimpse of the evolving dynamics of their respective partners in the villas.

    Presented by Too Yumm, Powered by Paytm, and along with Skore as the Digital Partner, Temptation Island India will span across 42 episodes, with an extended version called Temptation Channel streaming on the platform all day. The show will also introduce an array of interactive features, enhancing the viewer experience like never before, ensuring non-stop entertainment on the platform. Leaked Chats will give viewers a sneak peek into their most intimate conversations including photos, videos, voice notes, and text messages. The platform will feature Ask Love Guru for relationship advice from an expert, Horizontal Hype Trivia for quick facts and info about contestants. With Jeeto Dhan Dhana Dhan viewers will be in for a rewarding experience where they’ll win daily prizes by answering simple questions as they watch the Temptation Channel. Not to miss the very engaging JioCinema Super Squad, giving viewers a chance to make their own team and win big rewards. Temptation Awards will let viewers vote for their favorites, while Hype Chats and Stickers will provide real-time engagement.

    Speaking on the launch of the reality series, a spokesperson at JioCinema said, “At JioCinema, we are deeply invested in our audience while continuing to expand our portfolio with genre defining content that set new benchmarks. Reality is a key part of our overall content strategy and Temptation Island India will truly be a game changer for this category. As we bring the iconic global IP to India, we are sure to redefine the ‘unscripted’ entertainment making it the new reality phenomenon for the nation.”

    Commenting on the launch, Banijay Asia & Endemol Shine India founder & Group CEO Deepak Dhar said, “Temptation Island has left an indelible mark on the global reality TV landscape, with its immense success spanning over 20 countries. We are thrilled to now bring this iconic show to India. Given the show’s unique concept, JioCinema’s wide reach, and an interesting mix of participants, Temptation Island India is all set to redefine the way Indian audiences experience reality television.”

    Speaking on the partnership, a spokesperson at Too Yumm said, “Too Yumm! always seeks to find interesting and disruptive ways to engage with its consumers and form deeper connections with them. As we launch one of the most disruptive tasting snack for our consumers TooYumm! Twisties, we felt it needed an equally disruptive launch medium. What could have been better than one of the most successful reality shows in the world Temptation Island, as it debuts in India through JioCinema. We are sure, together, we will be creating lots of twisti-es and masaledaar experiences for our consumers.”

    Too Yumm presents Temptation Island India, powered by Paytm and digital partner Skore, starts 3 November at 8 pm on JioCinema.

  • India’s DPDP Bill – a win-win for consumer tech platforms

    India’s DPDP Bill – a win-win for consumer tech platforms

    Mumbai: India’s Digital Personal Data Protection (DPDP) Bill, is expected to be implemented over the next six to eight months in a phased manner; hefty penalties have been imposed for breach of data. This Bill will have a positive impact on companies/platforms that use first party data, whereas players using or sharing third party data (Google cookies, publisher platforms) could see a negative impact; this could potentially mean that sourcing data may become an expensive proposition for programmatic companies like Affle, as they may need to invest in enhancing their own database (first party). This Bill mirrors UK’s GDPR (General Data Protection Regulation) in terms of the major norms mentioned therein. Internet platforms like Zomato, Nykaa, Paytm etc may have relatively lesser monthly active users (MAU’s) as compared to social/search giants like YouTube, Meta, however the former has a detailed understanding of their limited customer base, with more intelligence around their purchasing/consumption patterns; e-commerce giants like Amazon, Flipkart too will have a big edge due to data protection, as they can earn ad. revenue with the help of their first party data, which will help provide better monetisation and profitability over the medium term.

    Long haul for implementation of the DPDP Bill (six to eight months)

    The DPDP (Digital Personal Data Protection) act, which has been highly anticipated, has been in the works for the past four to five years. Numerous drafts have been exchanged and extensive input has been gathered from the industry stakeholders. Although the Bill is set to take effect on 11 August 2023, its actual implementation has not yet occurred. Currently, the sections have not been enforced, but there are plans to assign specific dates for the phased implementation of these sections.

    The scope of its applicability extends to all forms of digitised or digital personal data. Notably, the act also holds extraterritorial jurisdiction. This means that all entities, including those located outside of India, that process data to offer data services within the country, will be obligated to adhere to the provisions of the act. The Bill is anticipated to bring about a positive impact. India is undergoing rapid digital transformation, and with such swift digitization, there’s a substantial amount at risk. Considering the challenges posed by data leaks, the implementation of this law is crucial. It will establish a regulatory framework that offers a cleaner environment for the transmission and processing of personal data.

    Substantial penalties for non compliance/data privacy breach

    The entirety of the act’s liability is placed upon the data fiduciary. The responsibility for implementing safeguards to ensure data protection also falls solely on the data fiduciary. Implementing the requirements should not pose a significant challenge for data fiduciaries, provided they approach it with seriousness and a willingness to comply. The Bill makes it obligatory to report breaches of the principles, regardless of whether the breach is categorized as a high-security breach or not. Entities will undoubtedly feel apprehensive about the substantial penalties, given their magnitude. Data fiduciaries have a responsibility to uphold reasonable security measures for personal data when processing such information. Failure to inform both the board and the principle in case of a data breach can lead to significant fines being imposed. Rather than waiting for the possibility of never being reported and taking on the associated risks, companies could proactively reach out to a wider customer base about the data leak. This approach would involve enhancing compliance efforts and demonstrating a commitment to addressing the issue.

    Contents of the DPDP Act have been drawn heavily from EU’s GDPR

    The Indian legislation has drawn significant inspiration from the EU’s General Data Protection Regulation (GDPR) and is built upon its framework. The authorities have analysed the real-world challenges that arose with GDPR and incorporated those insights into the crafting of this Bill. The primary objective is to ensure the responsible processing of personal data and establish robust data privacy rights for individuals. Both regulations emphasize the handling of personal data through consent, although there are specific scenarios where consent might not be obligatory. The Government has skilfully navigated the task by avoiding excessive amendments and appropriately identifying areas of overlap with other laws.

    Ad-tech players could face challenges in accessing third-party data

    It is believed that targeted advertising technology companies operating in this domain and relying on third-party data for tailored advertisements will encounter additional challenges. Since they don’t directly gather the data, using third-party data will demand heightened attention. Employing third-party data should make you more cautious, vigilant, and well-informed about the methods of data collection. Ensuring the integrity of the data used for crafting targeted advertisements becomes imperative to prevent any form of contamination. Well-established players involved in collecting, distributing, or selling data would undoubtedly need to swiftly adapt to the provisions of this new act. These programmatic ads. tech players could resort to either 1) Investing into their own database or 2) Recover the higher the costs from clients via higher pricing.

    Broad based implementation – across small and large enterprises

    Small businesses, lacking substantial resources to engage established players, are focusing on diligently ensuring proper compliance. They recognize that firsthand data collection is significantly preferable to relying on third-party data access. Bigger technology companies might be required to establish compliance requirements slightly ahead of smaller players and startups. The law takes a somewhat more lenient stance toward startups. It’s anticipated that there will be a window of around six to ten months before full implementation is expected.

    Safety of consumers/children an added benefit apart from privacy

    Companies operating multiple businesses might find common ground internally, where data exchange occurs among their various segments or units by following proper compliance. This aspect should be regarded as a protective measure for sharing information securely. In the case of large tech giants, they will have to adhere to the supplementary data requirements. These companies heavily rely on technology, so many of the obligations are likely already integrated into their operations. The introduction of this regulation could bring about a positive impact, leading to an enhanced safety net. Regarding children’s data, obtaining verifiable parental consent is a requisite. The act has established a mechanism for addressing grievances within its provisions. The composition of the board is explicitly outlined in the act.

    The credit of this article goes to Elara Capital senior vice president- research analyst Karan Taurani.

  • Paytm Ads launches 2023 Festive Wallet Outlook: Indian digital spending trends

    Paytm Ads launches 2023 Festive Wallet Outlook: Indian digital spending trends

    Mumbai: One97 Communications Ltd (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, mobile payments and Soundbox, today launched a report titled “India’s Festive Wallet Outlook 2023” by Paytm Ads at ET Martequity Summit 2023. Based on a survey commissioned through Redseer Consulting, the report highlights the festive spending trends across various categories and the growth of digital spending across payment platforms.

    India’s Festive Wallet Outlook 2023 states cashless transactions have gained prominence (lower cash-on-delivery transactions) within online sales during festive seasons, with ~75 per cent of consumers opting for digital payment methods for online shopping. Mobile payments are anticipated to emerge as the primary payment method across all product categories during the upcoming festive season.

    With a growing consumer preference for mobile transactions, businesses are digitising their payment options. Approximately 60 per cent of all merchants and small-business owners accept e-payments enabled by the rapid deployment of Paytm-pioneered QR codes and Soundbox devices as of June 2023.

    As per the Redseer survey, Paytm boosts brand awareness threefold among users, outshining other payment platforms. The report highlights Paytm’s seamless integration into daily routines for bill payments, subscriptions, and digital services. It has become a vibrant brand discovery and consideration platform, linking users with relevant products during festivities.

    Paytm SVP Praveen Sharma said, “With almost 75 per cent of consumers opting for mobile payments during festive shopping, it enables marketers to convey messages that deeply connect on an individual level. Paytm has emerged as a dynamic brand discovery platform with its large user base, playing a pivotal role in connecting users with brands and products during this celebratory period. With its advanced targeting and innovative ad formats, Paytm Ads has successfully created meaningful customer interactions along the path to purchase.”

    Paytm has facilitated seamless transactions and empowered users to embrace digital spending during festive seasons. The company’s FY23 Gross Merchandise Value (GMV) from Commerce Business, which includes travel, movie, entertainment ticketing, deals and gift vouchers, grew 63 per cent YoY. Total Gross Merchandise Value (GMV) processed through Paytm in the 2022 festive months increased by 40 per cent, along with an 85 per cent rise in transactions. The company’s monthly transacting users for July stood at 9.3 cr. Paytm witnessed a 31 per cent YoY growth in active users during the last festive season.

    The report has profiled success stories of various brands, including MyGlamm and the Singapore Tourism Board, that have effectively leveraged Paytm Ads for their marketing campaigns. By harnessing the power of digital transactions, over 400 brands have enhanced engagement, boosted sales, and fostered lasting relationships with their customer base. Paytm Ads has disrupted the conventional offerings of various ad tech platforms through innovative ad solutions and precise targeting, emerging as one of India’s leading advertising platforms.

    Click here to download the complete report.

    https://marketing.ads.paytm.com/report-indias-festive-wallet-outlook-2023

  • Sanjeev Misra joins Yoho’s board as an executive director

    Sanjeev Misra joins Yoho’s board as an executive director

    Mumbai: Yoho, India’s fastest growing D2C footwear brand, has appointed Sanjeev Misra as executive director, effective 1 November. He is also an investing partner holding equity in the startup.

    Misra has over three decades of experience in the corporate world. Prior to joining Yoho, he spent more than five years as the senior vice president & director of Paytm, where he led B2B commerce and global exports & imports.

    His leadership approach has been built around sharp prioritization and focus, growing businesses and brands through innovation, transforming sales, driving productivity, while building teams with the right structure, talent, and culture.

    Prior to Paytm, Misra held the position of vice president – group business & renewables at the Adani Group for almost 3 years. He was responsible for accelerating sales, building strategic planning and overall business development, including corporate governance & IT, telecom. Additionally, he was managing large-scale projects at the firm. Before that, he has spent over a decade in Silicon Valley, working for brands including Motorola Semiconductors, Cisco Systems, Adobe, Compaq Computers and Silicon Graphics.

    Commenting on his appointment, Misra said, “I feel both honoured and humbled on being appointed as the executive director of one of the fastest growing and innovative Indian footwear brands. I’m also excited about the journey ahead in this fascinating space. The Indian footwear industry has the potential to grow 10 folds in the coming years. According to some recent reports, the revenue in the footwear market in India amounts to $23.73 billion in 2022 and is expected to grow annually by 6.77 per cent, CAGR 2022-2027. At Yoho, I look forward to building on the versatile brand that believes in offering comfortable and stylish footwear that cost less than half of the ones offered by popular global giants.”

    Yoho founder Ahmad Hushsham said, “We are delighted to welcome Misra, first as one of our angel investors and now as our executive director. He has played an instrumental role in our strategic development in the initial stage of coming out of stealth mode.”

    Yoho founder Prateek Singhal said, “We are privileged to have Misra join Yoho at this opportune time when we are looking at building and investing in new technology to build new product propositions and directly support our long-term strategic plan. In his new capacity as an executive director we will seek his guidance to scale up the business and expand the consumer base as we continue to disrupt the footwear market with our state-of-the-art technology and AI-powered solutions to create high-performance footwear that is affordable for all.”

    Recently, Yoho raised Rs 20 crore in a Series A round of funding by a group of influential investors, led by Softbank Vision Fund CEO Rajeev Misra, Rukam Capital, and Paytm founder Vijay Shekhar Sharma, along with participation from other investors.

    Founded in 2021, Yoho has already sold 1,00,000+ pairs of footwear after coming out of stealth mode four months back, with just three products – Bubbles, Waves, and Breeze. The products designed with orthopedic ergonomics are available for both men and women across all top e-commerce platforms. Before launching the product lines, Yoho created almost 700 prototypes before settling for the right product line. Each prototype went through stringent tests to ensure that customers get a product that is super comfortable and long-lasting.

  • Google Pay tops the chart among e-wallets app users at 38%, followed by Amazon Pay & Paytm: WATPapers

    Google Pay tops the chart among e-wallets app users at 38%, followed by Amazon Pay & Paytm: WATPapers

    Mumbai: WATConsult, the hybrid digital agency from Dentsu Creative India, has released the latest issue of its monthly WATPapers. Titled ‘Digital Transactions in India’, the report is by WATConsult’s research division, Recogn. The report shares insights on the increase in online businesses and purchases, changes in the process of making payments, and the migration of people from cash to digital transactions.

    According to the report, the majority of respondents prefer to use digital payment systems like e-wallets and UPI. Apart from that, they have also used credit cards and net banking to complete transactions. It is worth noting that, while 46 per cent of males prefer e-wallets, the majority of females prefer UPI to transact. Furthermore, many youngsters in the age group of 18 to 24 years prefer using UPI and e-wallets.

    The report further reveals that among the e-wallet app users, Google Pay (38 per cent) tops the chart, followed by Amazon Pay (37 per cent), Paytm (36 per cent), and Freecharge (32 per cent). While female users choose to use Google Pay, male users prefer using Amazon Pay, Paytm, and Google Pay. In small metropolitan areas, users prefer to use JioPay, Google Pay, and WhatsApp to transact.

    Users favour e-wallets owing to the need to switch to a digital payment system and reduce cash transactions. These apps are convenient since they are easy to use and access. Additionally, users also get discounts or cashback on using them, along with some special benefits from specific retailers as well.

    “Mobile payments, especially mobile wallets, have been a great driver towards this phenomenon and revolution on a global basis,” said Isobar India group CEO Heeru Dingra, commenting on the latest issue of WATPapers. “Gradually, India is moving toward a cashless economy, which explains the increasing trend of using digital payments systems extensively. The government, under the programme of digital India, has been encouraging and promoting the use of e-wallets via UPI.”

    “The UPI platform has witnessed a leap in adoption at a phenomenal growth rate as a payments product across the country. There have been many merchants and businesses in the digital as well as offline ecosystems that have integrated the options of e-wallet apps and UPI for customers’ convenience and ease of transaction. This has positively influenced the country’s mobile wallet market,” she added.

    WATConsult managing partner Sahil Shah said, “In the emerging markets, e-wallet apps have garnered much more attention compared to other forms of payment systems. Digital payment adoption is growing, and the onset of the pandemic has created a need for contactless payments in everyday life. The need for digital payments and the rise in the frequency of usage of e-wallets during the pandemic have been evident. There was a change in the behaviour of consumers during the pandemic which had a direct impact on the retail and e-commerce sectors.”

    For the record, WATPapers are monthly published short reports based on the primary research conducted by Recogn, the agency’s research division that provides consumer and business insights to the audience. It aims to delve into the different aspects of the digital industry, consumer behaviour, and more.

    Link to the report: https://www.watconsult.com/watpapers-digital-transactions/

  • Xiaomi India CMO Jaskaran Singh Kapany moves on

    Xiaomi India CMO Jaskaran Singh Kapany moves on

    Mumbai: Xiaomi India chief marketing officer Jaskaran Singh Kapany has moved on from the company.

    He had joined the Chinese smartphone company in April last year. As CMO of Xiaomi, Kapany led all marketing initiatives across the company in both the smartphone and smart TV segments which continue to be a hyper-competitive market in India.

    According to the industry sources, Kapany has not announced his next assignment yet.

    Prior to joining Xiaomi, he was associated with companies such as Paytm, ICICI Prudential, Lowe Lintas and others.

  • Makers of RRR team collaborates with Paytm, giving away tickets for Re. 1

    Makers of RRR team collaborates with Paytm, giving away tickets for Re. 1

    The makers of RRR, the most-awaited film starring Ram Charan, Jr NTR, Alia Bhatt and Ajay Devgn have partnered with Paytm, India’s leading digital payments to give movie lovers a chance to watch the film by spending just one rupee. It is a first-of-its-kind campaign for a multi-starrer film.

    The movie marketing techniques have touched a new high with this innovative promotional idea. RRR is certainly one of the most highly-anticipated and big-ticket releases of this year.

    RRR team will join hands with Paytm on 14 March to ensure the film reaches every corner of the country by giving away tickets for Re. 1.  

    This new campaign from the makers in partnership with Paytm will offer a cinematic treat for RRR fans.

    Post Baahubali’s success, SS Rajamouli became a nationwide household name, he has made another film on a grand scale and is set to break many records.

    Jayantilal Gada (PEN) has bagged the theatrical distribution rights across North India and has also bought worldwide electronic rights for all languages. Pen Marudhar will be distributing the film in the North Territory.

    The Telugu-language period action drama film is produced by D. V. V. Danayya of DVV Entertainments. RRR will release on 25 March 2022.

  • Paytm’s latest campaign is all about treating women with respect

    Paytm’s latest campaign is all about treating women with respect

    Mumbai: Paytm, mobile payments & financial services company has teamed up with Dentsu Impact – a dentsuMB company & the creative agency from dentsu India to roll out a thought-provoking campaign about treating women with respect.

    The digital film released as part of the campaign drives the message, through a relatable scenario that women find themselves in during New Year parties. There are times, when random men try to buy unsolicited drinks for women – a practice often seen in bars and pubs. The new campaign offers a refreshing take on it, with a message on respecting women. The film also takes forward Paytm’s belief to be an enabler for women’s financial autonomy and builds on a similar social experiment film, launched by Dentsu Impact on Women’s Day in 2021 – The Divide.

    With the onset of this campaign, Paytm sparks a conversation about rethinking what treating women with respect actually means through a day-to-day scenario. It also paves the way for women to be more in control of such difficult social situations while staying completely secure.

    Dentsu Impact national creative director and managing partner Anupama Ramaswamy said, “Giving it back, by paying it back makes the intent of this campaign palpable for both women and men. The New Year campaign demonstrates how it pays to challenge the conventions of how we think of finance and gender. And any challenge to the traditional way of accepting things makes the brand and the message it conveys modern and aspirational, striking a chord especially with a younger generation.”

  • Xiaomi India appoints Jaskaran Singh Kapany as head of marketing

    New Delhi: Jaskaran Singh Kapany has been appointed as the head of marketing, Xiaomi India.

    “Jaskaran is a terrific marketing leader and in his previous role, he was heading marketing for Paytm. He played a critical role in building the brand from scratch. @Jas – welcome to the madness. Looking forward to working with you to take Xiaomi India to new heights,” Xiaomi vice-president and Mi India managing director Manu Jain posted on LinkedIn.

    Kapany held the position of vice-president, marketing at Paytm, where he was instrumental in making Paytm one of the leading payment brands in India and helped scale the app’s user base. He also brokered partnership deals with BCCI Cricket, IPL, etc to take Paytm to the masses as part of a structured marketing strategy.

    Prior to his stint at Paytm, Kapany was VP – marketing and e-commerce at ICICI Prudential Life where he spearheaded all national brand-building and consumer initiatives.