Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

For Paytm, its growth and restructuring in tandem

ET Online|
Fast pace growth
1/5

Fast pace growth

One of India's top digital wallet company Paytm, seems to be growing at a fast pace. It recently announced that within a year of the launch of its 'Loan EMI, Credit Card Bill, and Insurance premium', it had captured 70 per cent market share amongst all mobile payment apps for BFSI payments. The company has been taking partners from the insurance and banking sector and wants to become a single platform for such payments.

BCCL
Profitable tie-ups
2/5

Profitable tie-ups

Paytm has tied-up with 30 major insurance companies and 45 finance companies. These include all major insurance and finance companies in India such as LIC, HDFC Life, ICICI Prudential, SBI General Insurance, Hero FinCorp, Muthoot Finance, India Bulls, L&T finance, PNB, and others. It is also the single largest platform for banks, financial services, and insurance (BFSI) payments.

Agencies
High on transactions
3/5

High on transactions

Paytm registered over 50 million transactions within a year of its launch. This has encouraged millions of users to make digital payments instead of submitting cheques or visiting the bank branch. Paytm receipts are also being used for an income-tax declaration and such payments record can easily be viewed within the app.

Getty Images
Generating revenues
4/5

Generating revenues

Paytm Mall had integrated its deals platform Nearbuy, which it acquired in December 2017, with its app and started mapping neighbourhood offline stores, which in its current form is enabling discovery. This is expected to generate revenues through services like advertising, Point of Sale (PoS) and marketing.

Getty Images
Banking on gift cards
5/5

Banking on gift cards

The company has also introduced gift cards, launched the eBay international store with curated merchandise, and forged partnerships with Kishore Biyani’s Future Group, Reliance Industries and BigBasket for its offline-to-online (O2O) business. The changes have ensured that Paytm Mall is driving traffic to its larger ecosystem, Dalmia said. In July, eBay picked up a 5.5% stake in Paytm Mall for $160 million, its third bet on India’s ecommerce market after backing Snapdeal in 2014 and Flipkart in 2017.

Getty Images
X
User

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service