Both the companies have already initiated talks but no details have been disclosed yet. The Alibaba backed payment company plans to boost its travel marketplace with this acquisition. However when NextBigWhat contacted Paytm, it declined to comment and said it is only a speculation.
The users can now pay university fees and dues, hostel fees, cafeteria bills as well as buy books and merchandise through the Paytm Wallet. By minimizing cash, the initiative shall be highly beneficial for the students, teachers, the institution and parents alike.
With the Modi led Government, ‘digital’ has been abuzz across all the corners of the country. In this entire process of making everything digital, we may have missed the significance…
Chinese e-commerce giants Alibaba Group is evaluating options to enter Indian e-commerce industry in 2016. Alibaba is planning to enter in to the market as a standalone entity and run parallel to its investments in existing players such as Paytm and Snapdeal.
Expanding its digital payment realm further and looking to further push its already aggressive ongoing campaign of increasing its offline presence, Paytm is now venturing into movie ticketing business- which is predominately held by BookMyShow.com.
Aditya Birla Group’s food and grocery retail arm More and Paytm have tied up to offer its customers with an option to use Paytm’s prepaid wallet to make payments. Also, Oxigen Wallet in association with Creditnation will now facilitate procurement of loans through the Oxigen Wallet.
Paytm will now remove the ‘merchant fees’ for wallet transactions in the offline world making it easier for the merchants and customers. When a customer pays a merchant, a charge is levied per transaction on the merchant by banks. Charges vary from 0.5% to 2.5%, depending on various parameters.
NCR based Shifu is a personal assistant app for Android phone, but unlike others, it takes into consideration what free time you have and then only alerts you to complete a task. For Paytm, this is more of a talent acquisition.
Using the Paytm wallet train passengers will now be able to make online payments for food ordered through e-catering. Earlier this year, Paytm and IRCTC had entered an agreement to make payments for booking train tickets online. Currently, IRCTC has an e-catering facility in 1,516 trains without pantry cars.
This is the first acquisition made by Paytm since the $680 million funding it secured from Alibaba Group and Ant Financial. Gurgaon-based Near.in has a strong presence in the Online-to-Offline (O2O) space and helps consumers discover local service providers like plumbers, artists, etc.
Paytm wallet users can make online and offline purchases with the virtual cards. They can also top up their digital wallet from any ICICI bank. Earlier, ICICI Bank had partnered with Mobiwik which let users recharge their wallets at any ICICI bank. Paytm had also partnered with Bank of Maharashtra.
Paytm has established a direct connectivity with RoomsTonite by enabling the inventory of all the hotels, the rates and the content to sync in real-time. RoomsTonite launched in January 2015 has over 4,000 hotels across 325 destinations. Paytm had announced its foray into hotel aggregation in October 2015.
The Alibaba-backed company sold over 500+ motorcycles and more than 1,000 bicycles which were delivered to customers from physical dealerships. Paytm had earlier entered into an exclusive tie-up with Mahindra Two Wheelers. Consumers from Tier-2 and Tier-3 towns contributed to over 70% of the total traffic.
Unless a company has foolproof process, going public with such customer stories is..weird and doesn’t boost one’s confidence in dealing with the company.
Paytm will also facilitate and provide support to Microsoft service sales via their existing network of merchants across the country. Further, Paytm and Microsoft are also identifying the use of Microsoft Office 365 in enabling Paytm merchants to ensure easy inventory and account management.
Paytm is targeting annual premium payment in excess of INR 1000 crores by going live with 15+ companies by the end of next quarter. Paytm is building closed loop processes which starts with reminding customers. ICICI Prudential will go live this week followed by other insurers over next 2-3 days.