BookMyForex is also offering new age contactless cards to allow users to pay through the ‘tap and go’ feature.
The startup counts venture capital firms Nexus Venture Partners and Jungle Ventures among its list of institutional investors.
The body has suggested immediate extension of the limit to Rs 1 crore for retail investors, which would allow HNIs to lend money through these platforms.
The Citigroup veteran, who joined the digital payments company in 2016, will now oversee multiple business lines at the Noida-based firm.
Paytm is hoping for higher user engagement on the back of sustained marketing efforts.
TURNING A PAGE: Fintech startups offering stocks and mutual fund investments are leaning on specialised content to retain investor interest.
NEW STRATEGY: Startups are putting in place a mix of physical and online processes at a time of asset-quality challenges and rising borrowing costs.
The Nandan Nilekani committee said despite the growth of financial inclusion over the years, banks have not expanded their systems, causing a bulk of the failures.
Company cedes market share to Google Pay, PhonePe which registered around 300 million transactions each in July while Paytm clocked 140 million transactions.
Users spent around Rs 6 lakh crore using credit cards in 2018-19, up 30% from a year ago.
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