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Tag: Paytm

  • Paytm launches AI Cloud service with Alibaba

    Paytm launches AI Cloud service with Alibaba

    MUMBAI: Paytm parent One97 Communications has partnered with Alibaba to launch its artificial intelligence (AI) cloud computing platform Paytm AI Cloud for developers, start-ups, and enterprises.

    Paytm AI Cloud will offer a suite of business-centric applications including ready-to-use services that will allow businesses to automate their workflow, integrate payments, and provide messaging, customer engagement tools. The company said that its cloud will process and store all consumer data locally, in servers located only in India.

    Reports claim that the company has earmarked Rs 250 crore for this vertical. It will be interesting to see how the homegrown company’s foray into the cloud computing business pans out in the coming months. Paytm may gain an upper hand if it leverages the cloud computing business of its key investor Alibaba. The Chinese tech giant opened its first India data centre in Mumbai this January.

    The platform has also built various solutions that include ‘easy-to-access’ computing services, pattern recognition tech, pre-trained models, and predictive computation to businesses, the company said. 

    Paytm also announced that it will soon offer enterprise-messaging solution in partnership with DingTalk to facilitate conversations across email, chat, call or audio-video conference.

  • Paytm Mall targets $10 bn annualised gross sales by 2019

    Paytm Mall targets $10 bn annualised gross sales by 2019

    MUMBAI With the aim to garner a bigger slice of India’s growing online retail market, Paytm Mall, owned by Paytm e-commerce, has ramped-up its efforts to expand the business. The company is aiming for a three-fold rise in annualised gross sales and aims to achieve the $10 billion mark by March 2019.

    Paytm e-commerce, which runs the online marketplace, achieved $3.5 billion in annualised gross sales in June 2018. This robust performance has made it a strong No. 3 contender in the local e-commerce market within a year of its launch. By March’19, Paytm Mall expects unit orders to jump to 1-1.5 million orders per day, from about 625,000 currently.

    Paytm Mall has raised about $650 million since its inception in April 2017. During its latest fundraise the company raised about $450 million from Japan’s SoftBank Group, and it is currently valued at about $2 billion. Shareholders in Paytm e-commerce include Alibaba Group, Ant Financial, SAIF Partners and founder Vijay Shekhar Sharma.

    For Paytm Mall, the largest categories by value include appliances, laptops, and mobiles with the daily needs category generating the maximum number of orders. The company plans to expand its fashion and home business this year. Paytm Mall plans to create differentiation in the market by not having an inventory-led business model. Instead, it aims to promote the O2O (offline to online) model in India.

    It currently offers same-day delivery and O2O deliveries in the top 15 cities including New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad. The company plans to further expand its services to 25 cities including Kota, Jabalpur, Dehradun, and Indore, among others by Diwali.

    Paytm Mall COO Amit Sinha says, “We are excited to witness the growth of the Indian retail market and we have ramped up our efforts to expand our business to meet its ever-growing demands. We are building an O2O model offering same day deliveries to top 15 cities and will be further expanding our services to 25 cities across the country. Our partnership with brands/merchants and their offline retail stores is driving an important opportunity for them to increase their business while building engagement with their customers.”

    Paytm Mall’s O2O operating model is aiming to leverage India’s 15 million offline retail shops to participate in India’s e-commerce boom. The company currently works with offline stores in partnership with brands such as Samsung, LG, Lenovo, Intel, Red Tape, Canon, HP, Godrej, and Hitachi.

  • Paytm, Insider.in are official ticketing partners for KPL 2018

    Paytm, Insider.in are official ticketing partners for KPL 2018

    MUMBAI: Paytm, India’s digital payments company has partnered with Karnataka Premier League 2018 as official ticketing partner for the seventh season of exciting regional T20 league. The tournament will start from 15 August and go on till 6 September 2018 and Star India is the official broadcaster.

    As a part of this engagement, Paytm and its subsidiary Insider.in will manage the end-to-end ticketing experience and accreditation services for the league for all matches played at M Chinnaswamy Stadium in Bangalore, KSCA Rajnagar Stadium, Hubli and SDNR Wadiyar Stadium in Mysuru. 

    Paytm chief financial officer and SVP Madhur Deora said, “We are glad to partner with Karnataka Premier League 2018 as their exclusive ticketing partner. We aim to contribute towards developing greater interest towards this exciting regional T20 league by driving seamless ticketing & payments.”

    Customers in Karnataka can book their tickets or scan the Paytm QR placed at the venue ticket counters/stores. In an effort to increase its presence in this territory, the company will also be activating retail outlets for sale and redemption. This will ensure a seamless experience for fans to enjoy one of the most exciting regional T20 cricket league in the state.

    KSCA official spokesperson Vinay Mruthyunjaya said, “After six successful seasons, the annual tournament is traveling to different cities in order to engage young budding cricketers and their fans across the state. This season’s matches are scheduled to begin on the 15 August in Bangalore and will move to Hubli and Mysore on 19 and 29 of August respectively. With the help of Paytm- Insider.in partnership we are looking in building and engage cricket fans across Karnataka. Please book your tickets on Paytm & Insider.in and be a part to witness KPL 18.”

  • Paytm Payments Bank CEO Renu Satti quits

    Paytm Payments Bank CEO Renu Satti quits

    MUMBAI: Paytm Payments Bank CEO Renu Satti has resigned from her post after serving the responsibility for one year and two months. Now, she will head the new retail initiative of the firm as chief operating officer. The company has not found her replacement yet.

    “Renu Satti will be leading the charge as COO of this new (retail) initiative…She has already resigned from Paytm Payments Bank CEO position and the bank will soon be recruiting a new CEO,” Paytm said in a statement as quoted by the Press Trust of India.

    Satti has been recognised for making its marketplace, movie-ticketing and payments bank businesses from the ground-up. “She has been a champion of new business launches and her acumen makes her a perfect candidate for leading this important launch,” the company said.

    Under the ‘New Retail’ model, consumers will able to discover nearby pharmacies, groceries and other shops to place an order and get instant deliveries.

    The company started the business as a mobile recharge platform and later expanded into digital payment solutions and e-commerce (Paytm Mall).

  • PhonePe acquires PoS platform Zopper

    PhonePe acquires PoS platform Zopper

    MUMBAI: Flipkart-owned digital payments platform PhonePe, yesterday, announced that it has acquired Zopper Retail, a hyperlocal point-of-sale platform for small and medium businesses. As part of the acquisition, Neeraj Jain, founder-CEO, Zopper will join the PhonePe team as head of product, offline merchant solutions.

    The acquisition of Zopper is part of PhonePe’s aggressive strategy to build its offline payments business and thereby expand its customer base. With this acquisition, the Flipkart-owned digital payments company will hope to merge the value-added service capabilities of Zopper into its platform, thereby strengthening its offline proposition for merchants.

    “Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country,” said PhonePe CEO Sameer Nigam as quoted by Inc 42.

    Flipkart’s co-founders Binny Bansal and Sachin Bansal had also made angel investments in Zopper in 2012. Founded in 2010, Zopper was initially a community-based product review site which then pivoted into a hyperlocal e-commerce site. In 2015-16, Zopper pivoted again and split its business into two distinct divisions – a Point of Sale (Pos) platform for offline merchants (Zopper Retail) and an extended warranty solutions unit for electronics purchased at offline outlets (Zopper Assure).

    Last year, Flipkart made a commitment that it will invest $500 million in PhonePe to fight off competition. The acquisition will help the firm in the intensely competitive payments platform segment. Amongst its biggest competitors are India’s biggest payment company Paytm and Google’s Tez.

  • Paytm partners with Dharma Productions to launch loyalty card for fans

    Paytm partners with Dharma Productions to launch loyalty card for fans

    MUMBAI: Dharma Productions will be launching an industry-first exclusive loyalty card for its fans. The production house that has given the Indian film industry some of the most iconic films, enjoys an unprecedented fan-following across the globe. 

    The production house has partnered with Paytm which is India’s largest payments company to introduce first-of-its-kind loyalty program will reward their fan family in the country with exciting offers, experiences and tempting discounts. 

    The loyalty card will be exclusively made available through the Paytm app from 3rd July onwards and there is limited availability of the cards.

    Dharma kick-started the year with the blockbuster Raazi along with other movies. Joining the loyalty program will grant fans first access to all Dharma films and they will also be eligible for exclusive Dharma rewards. Fans can buy their loyalty card exclusively on Paytm and get access to various rewards, right from availing a cash-back of upto Rs 1500 cash-back on their films to a trip to movie sets and locations where Dharma movies were shot among other exciting deals.

    Karan Johar said, “We have received unconditional love from our fans over the years and this has indeed been a blessed journey so far. This offering is our way of thanking them.”

    Paytm CFO and SVP Madhur Deora added, “We are excited to grow our relationship with one of the country’s top production houses Dharma Productions as the exclusive Loyalty & Reward Partner for the Dharma Loyalty Card. We have been focused on improving the movie-watching experience with the widest assortment of theatres and novel first-of-its-kind offerings like Cancellation Protect.”

    Paytm Movies is the country’s fastest-growing entertainment ticketing platform. It powers online ticketing for 4800 movie screens in 750+ cities, registering an exponential 500 per cent growth as compared to 2016, the year of launch for Paytm’s movie ticketing and event booking platform. It is aiming to sell over 100 million tickets by end of this year.

  • Paytm appoints Ex- RBI deputy governor as advisor

    Paytm appoints Ex- RBI deputy governor as advisor

    MUMBAI: Indian e-commerce payment system and digital wallet company, Paytm has appointed former RBI deputy governor Rama Subramaniam Gandhi as an advisor to the company.

    In a blog post, the company said it would benefit from Gandhi’s knowledge and experience on payment systems, regulations, compliance and corporate governance. 

    Paytm founder and CEO Vijay Shekhar Sharma is excited about having Gandhi on board. He says, “Since the beginning of our journey, we have focused on building an organisation that has the culture and the resources of serving our customers responsibly. Mr. Gandhi joins our family, which now includes some of the most distinguished Indian and global leaders in the fields of finance, law, technology and business, all working together to help us achieve this goal.”

    Gandhi adds, “I am delighted to join Paytm as an advisor in its journey to bring digital and financial inclusion to half a billion Indians. I have dedicated my whole life to formulate policy and strengthen institutions in the financial services space. I will be happy to share my insights and guide Paytm in the creation of innovative financial services.”

    Before holding the position of the deputy governor, Gandhi worked with the central bank and was a member of the first Monetary Policy Committee. 

    He had a three-year secondment to the Securities and Exchange Board of India (SEBI) and has also been the head of two regional offices of the Reserve Bank. 

    Besides holding strategic roles in RBI, he had also piloted several innovative projects on IT, payment systems, financial literacy, financial inclusion and other developmental initiatives.

  • Paytm Inbox makeover includes addition of cricket, entertainment

    Paytm Inbox makeover includes addition of cricket, entertainment

    Vijay Shekhar Sharma has always believed in changing the game. On Monday, Paytm made another significant announcement that’s in line with its founder’s motto. With a complete makeover of its Inbox, Paytm is now set to offer a multitude of services including live TV, real-time news and cricket updates, popular videos, and games to its users

    “We are now rolling out the full stack service under ‘Paytm Inbox’ on our super app. We have partnered with several content providers to ensure the best of infotainment is delivered to you,” the company said in a blog post.

    The Paytm Inbox will now contain additional features and not just messages and order details. The new functionality has been rigorously tested and is now available on iOS. Android users will have access to the services later this week.

    To access Paytm Inbox, all you need to do is tap on the inbox tab on the extreme left. While Chat has been a key feature of the in-app messaging service, Paytm is now improving user engagement with addition of more options.

    The Noida-based company has joined hands with several publishers and game brands to provide content within the app to their consumers.

    Aaj Tak, Bloomberg Quint, 9XM, India Today, Mirror Now, Zoom, and ET Now are among Paytm’s collaborators for live TV services.

    Like other news aggregators, the app will offer content from the Indian publishers as well. Not just that, users will also have access to multiple games.

    The Paytm app was overhauled earlier this year in April with a redesigned home and profile page and the Passbook tab.

  • Alpenliebe launches new product with 47% fruit pulp

    Alpenliebe launches new product with 47% fruit pulp

    MUMBAI: Long gone are the days when the sole sign of the discerning Indian shopper, aka mom, was squeezing maximum value from her budget. Today she is not only looking for value for money offerings but equally important are the wellness benefits delivered by the product.

    Organisations attuned to changing shopper needs are responding with exactly that – A Better for You (BFY) portfolio. Nothing epitomises this truth more than two recent releases from the house of Perfetti Van Melle India – all new Alpenliebe POP and Alpenliebe Juzt Jelly Goody Bears.

    The first one is the relaunch of the Alpenliebe POP, a long popular brand of lollipops in India in two variants, with added fortification. First is the caramel variant which is added with calcium and second is cream-strawberry variant, with added vitamin C. Available at two price points, Rs 5 for a single lollipop and Rs 30 for a multi pop family pack.

    The second introduction, Goody Bears, is an extension under Alpenliebe Juzt Jelly, a brand which is a leader in the jellies segment and popular for its ‘made with 25 per cent fruit pulp’ credentials according to the company. Taking the wholesomeness credentials further, Goody Bears has 47 per cent fruit pulp and is enriched with vitamin C.  These bear shaped jellies come in a handy sachet which a mom can easily add to the child’s tiffin. One sachet fulfils 10 per cent of the daily vitamin C needs of a kid.

    And it’s for this reason that this innovation could be a perfect ‘tiffin treat’ for the concerned Indian mom, constantly seeking to walk the fine line between kids’ desire for sweet treat on one side and ensuring some nutritional value on the other. Goody Bears are priced at Rs 120 for a box containing 11 sachets.

    Perfetti Van Melle India managing director Ramesh Jayaraman says, “We passionately care about consumers and their ever-evolving needs. I am excited about the two new offerings, both in the Better For You segment.”
    The support plan for these innovations includes TV communication for Alpenliebe POPs and digital and on ground activations for Goody Bears.

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    To leverage e-commerce opportunity, Alpenliebe Juzt Jelly Goody Bears was rolled out exclusively on Paytm Mall. Paytm Mall COO Amit Sinha adds, “We are glad to have partnered with Perfetti Van Melle for the exclusive launch of Alpenliebe Juzt Jelly Goody Bears. This collaboration has given us the opportunity to bring this appealing jelly to kids across the country while offering a truly distinct retail experience. It is encouraging to see a larger number of FMCG brands appreciating the power of e-commerce while bringing new offerings to the Indian market.”

  • Paytm is the official ticketing partner of Kings XI Punjab’s home games for VIVO IPL 2018

    Paytm is the official ticketing partner of Kings XI Punjab’s home games for VIVO IPL 2018

    MUMBAI: Paytm along with event ticketing platform Insider.in would be the exclusive ticketing partners for the home games of Kings XI Punjab, in the upcoming 11th edition of the Indian Premier League (IPL). Insider.In will be handling the logistics and operations for the game – managing box office, stadium entry, seating and physical ticket delivery.  

    The tournament starts on 7th of April, through 27th of May, with the opening game between current title holders Mumbai Indians and Chennai Super Kings, who are making their IPL return. The tickets will go live on Paytm and Insider.In (website and app) on 22nd of March.

    The team’s games will be divided between Holkar Stadium Cricket Stadium, Indore (first 3 matches) and I.S. Bindra Punjab Cricket Association Stadium, Mohali (latter 4 matches). Its opening game of the tournament comes against DD at Feroz Shah Kotla Stadium (08 April), and its first home game will be at Indore on 15th of April, against Chennai Super Kings.

    Fans can expect several new features and services to enhance their cricket-watching experience. In an industry first, Paytm & Insider.In will be providing refunds for cancelled tickets for a cricket match, via a feature called Cancellation Protect. For a small fee, ticket buyers have the ability to cancel their tickets up to 10 days before the match starts, getting a refund on the full price of the tickets. This, the companies believe, will be a major step towards helping fans plan their cricket-watching experience, encouraging them to book tickets, safe in the knowledge that their money will be refunded in the event of an exigency.

    Attendees will also be able to pre-buy a special IPL-Paytm F&B payments card online and use it towards food & beverage purchase at the stadium. The IPL-Paytm F&B card can be easily topped up when at the match using the Paytm app. What’s more, die-hard fans of the teams will now also be able to purchase official merchandise on the Paytm Mall and Insider.In app and website. All of this is available right at the time of ticket purchase, offering a seamless buying experience to cricket fans waiting to support their favourite teams. While the benefit to the consumer is clear, the streamlined process which makes the sale of merchandise and F&B easier, will also help teams grow these revenue streams.

    Insider.in and Paytm will be selling tickets offline as well in a network of outlets in and around Mohali. Those who choose to buy tickets from here will receive physical tickets at the locations.

    Paytm and Insider.In have aggressively moved into the sports ticketing space over the last year. In December 2017, they were responsible for ticketing and operations for 4 cricket matches across all three formats: India vs New Zealand T20 (Paytm T20 Trophy, November 1, Delhi), India vs Sri Lanka Test (Paytm Test Series, December 2-6, Delhi),  India vs Sri Lanka ODI (Paytm ODI Trophy, December 10, Dharamshala) and India vs Sri Lanka T20 (Paytm T20 Trophy, December 22, Indore). In addition to cricket, the companies have also been the official ticketing partners for ISL teams FC Goa & Delhi Dynamos; Pro Kabaddi League teams U Mumba, Dabanng Delhi, & Jaipur Pink Panthers for the 2017-2018 season.

    “Over the past few years, Insider.In has become well-known for ticketing top music events such as Bacardi NH7 Weekender, A.R. Rahman’s live shows, Arijit Singh live, and comedy tours of artists such as Russell Peters, AIB, Biswa Kalyan Rath, Zakir Khan and several others. This has been the first year of Insider.in ticketing sports events in the country.”, says Shreyas Srinivasan, founder and CEO, Insider.In. “As with Music and Comedy, we aim to deliver for our partners value add beyond traditional ticketing. We are here to provide tools which improve efficiency and help organisers drive more value to sponsors and fans.”

    Paytm, Chief Financial Officer and SVP, Madhur Deora said “We are very proud to associate with Kings XI Punjab and be a part of their journey as the official ticketing partner in this season of VIVO IPL. Paytm Entertainment is working towards building a seamless experience for cricket fans and partners alike. With innovative features for booking tickets online and offline, payments and fan club management, our goal is to bring the best to the industry. Not only ticketing, our association also focuses on Food & Beverage cards and official merchandise for fans to have an incredible experience at the stadium.”