Paytm partners with Sysnet to power door-step service of HP & Lenovo laptops during the pandemic

- Provides 1000 Paytm All-in-QR for service locations across India to receive unlimited payments at 0% fee

Kolkata, 23^rd April, 2020: India’s homegrown financial technology platform Paytm has today announced that it has entered into a partnership with Sysnet Global Technologies Pvt. Ltd, which is a leading IT infrastructure management & solutions provider, servicing clients across Government, BFSI, retail, healthcare, and defence sectors. It also operates Lenovo & HP laptop service centres and is providing door-step delivery of serviced laptops during the pandemic. 

With this partnership, Paytm will provide 1000 All-in-QR for Sysnet’s service locations across India, which will enable it to receive unlimited payments at 0% fees. Besides receiving payments through QR, the company will also be able to send payment links to its customers for advance payments.  Additionally, Paytm will provide the Payout services to Sysnet to disburse payments to its over 4000 service engineers who have to travel & provide support to customers at very short notice.    

Narendra Yadav, Vice President - Paytm said, "This pandemic has changed the way the world conducts business as people are apprehensive of dealing in cash. Our Paytm All-in-One QR has enabled many companies and service providers to join the Digital India mission to get back on the growth track. We have enabled Sysnet with digital payment solutions and they are also using our payout services to disburse payments to their employees, vendors, and other business partners."

During the ongoing pandemic, Paytm All-in-One QR and Paytm Payout have become a must-have tool for businesses to send and receive digital payments. Over 17 million merchant partners already use Paytm All-in-One QR to accept payments digitally. In the last 3 months, Paytm payout has processed over Rs. 1500 Crore of salaries, food allowances, incentives & rewards among other expenses. 

Paytm partners with Sysnet to power door-step service of HP & Lenovo laptops during the pandemic

- Provides 1000 Paytm All-in-QR for service locations across India to receive unlimited payments at 0% fee

Mumbai, 23^rd July 2020: India’s homegrown financial technology platform Paytm has today announced that it has entered into a partnership with Sysnet Global Technologies Pvt. Ltd, which is a leading IT infrastructure management & solutions provider, servicing clients across Government, BFSI, retail, healthcare, and defence sectors. It also operates Lenovo & HP laptop service centres and is providing door-step delivery of serviced laptops during the pandemic.

With this partnership, Paytm will provide 1000 All-in-QR for Sysnet’s service locations across India, which will enable it to receive unlimited payments at 0% fees. Besides receiving payments through QR, the company will also be able to send payment links to its customers for advance payments.  Additionally, Paytm will provide the Payout services to Sysnet to disburse payments to its over 4000 service engineers who have to travel & provide support to customers at very short notice.    

Narendra Yadav, Vice President - Paytm said, "This pandemic has changed the way the world conducts business as people are apprehensive of dealing in cash. Our Paytm All-in-One QR has enabled many companies and service providers to join the Digital India mission to get back on the growth track. We have enabled Sysnet with digital payment solutions and they are also using our payout services to disburse payments to their employees, vendors, and other business partners."

During the ongoing pandemic, Paytm All-in-One QR and Paytm Payout have become a must-have tool for businesses to send and receive digital payments. Over 17 million merchant partners already use Paytm All-in-One QR to accept payments digitally. In the last 3 months, Paytm payout has processed over Rs. 1500 Crore of salaries, food allowances, incentives & rewards among other expenses. 

Paytm Payments Bank introduces video KYC facility

Paytm Payments Bank Ltd (PPBL), which is India’s largest and most successful payments bank has today announced the launch of its Video KYC facility. With this, customers can now get their full KYC completed anytime between 9 am and 8 pm, from anywhere through a video call. The convenience of video call for full KYC will help customers stay safe within their homes during the ongoing pandemic.
The Video KYC facility is the latest among the series of new features that the bank has been launching to make the banking experience more convenient and accessible for its customers. During the lockdown, it introduced ‘Cash at Home’ facility for senior and disabled citizens, which enabled them to raise cash withdrawal requests on their Paytm Payments Bank app and receive the requested amount at home. Earlier this year, the bank has also launched a Direct Benefits Transfer (DBT) facility where it allowed customers to raise a request to receive the benefits of over 400 government subsidies directly into their PPBL Savings Account.

The process for getting Video KYC completed is simple & seamless. Customers who have not yet completed their full KYC can open their Paytm app and click on the Video KYC tab to begin the verification process. An executive will be assigned, who will guide the customer to complete this process. All that is needed for verification is the customer’s PAN card and Aadhaar card. The entire process is completed in 2 minutes. Currently, the facility is being offered to a select user base and soon it will be available for all customers.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “We have continued with our efforts to bring financial inclusion in our country through innovative use of technology. We are already receiving a lot of interest & inquiries from our users, and are in a process of developing a back-end infrastructure that will enable us to complete up to 15,000 Video KYC requests every day.”

PPBL continues to lead digital banking in India and is a comprehensive platform for all kinds of funding sources. Besides 100 million UPI handles, there are 300 million wallets, 220 million saved cards, and 58 million bank accounts on the platform.

Paytm to acquire Raheja QBE General Insurance to expand its financial services offerings

- To buy 100% from both Prism Johnson and QBE of Australia

- Aims to democratise general insurance for driving financial inclusion
- Vijay Shekhar Sharma to hold majority shareholding

Mumbai, 6^th July’20: India's homegrown financial technology platform Paytm (owned by One 97 Communications Limited) along with Vijay Shekhar Sharma is set to acquire Mumbai based private sector general insurer Raheja QBE. The acquisition is subject to customary conditions, including approval from the Insurance Regulatory and Development Authority of India (IRDAI). Raheja QBE  is owned 51% by Prism Johnson and 49% by QBE Australia. Paytm is set to acquire both stakes and would own 100% of the company. All employees of Raheja QBE would continue working at Mumbai and other locations.

This strategic acquisition is through QorQl Pvt. Ltd, a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm. After enabling millions of Indians with services of homegrown Payments bank, it is now setting sights on democratising general insurance services.

India's Paytm has a large consumer base for it's digital payments & financial services offerings. It has also built an extensive merchant ecosystem empowering them with end-to-end business solutions. The insurance company would leverage this network to build innovative insurance products to accelerate its reach & adoption. It is in furtherance of Paytm’s mission of driving financial inclusion for over half a billion Indians.

Amit Nayyar, President at Paytm said, "It is an important milestone in Paytm’s financial services journey, and we are very excited to welcome Raheja QBE General Insurance into the Paytm family. Its strong management team will help us accelerate our journey of taking insurance to the large population of India with the aim to create a tech-driven, multi-channel general insurance company with innovative and affordable insurance products.”

Commenting on the development, QBE Australia Pacific Chief Executive Officer, Mr. Vivek Bhatia said, “Today’s announcement marks both a continuation of QBE’s strategy to simplify our business and the beginning of a new & exciting chapter for our strong team at Raheja QBE.”

Vijay Aggarwal, Managing Director Prism Johnson Ltd., "We are happy to announce the sale transaction of our entire 51 percent stake in Raheja QBE General Insurance Company Limited. Our decision to sell our stake in Raheja QBE is in line with our mission to create sustainable shareholder value and will enable us to focus our resources on our core businesses. This move will help the insurance business scale up to new heights by leveraging the large customer base and innovative products offered by Paytm. I would like to thank Raheja QBE’s management team and all the employees for their strong contribution and commitment over the years and wish them every success."

COVID-19 Impact: Paytm Payouts processed over Rs. 1500 Crore in salaries and other benefits for medium & large enterprises

~Over 5000 companies now prefer digital transfers and wallet benefits over cash~

Kolkata, June 29, 2020: India’s leading financial services company Paytm has today announced that more medium & large enterprises are moving towards digital money transfers. Paytm Payouts, the digital money transfer service has become a must-have tool for businesses that make regular payments to their employees, vendors and business partners. During this ongoing lockdown, over 5000 companies have used Paytm Payouts to pay salaries & food allowances to employees, incentives & rewards to housekeeping, labourers & other contractual staff; and even for expenses like utility bills of their offices.

Launched this year, Paytm Payouts offers APIs or Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. Within 3 months of lockdown, Paytm Payouts has transferred over Rs. 1500 crores either to the Paytm wallet, food wallet, gift voucher, or bank account of millions of beneficiaries. Companies like Pidilite Industries, Schneider Electric and Havmor Icecreams Pvt Ltd use the service to transfer money to their employees, vendors and business partners such as masons, painters, carpenters, electricians, sellers, etc.

Narendra Yadav, Vice President - Paytm said, “During the ongoing lockdown, we have witnessed that more organisations are relying on digital money transfers to pay salaries & other benefits to their employees, vendors, and business partners. Paytm Payouts is a unique product that minimizes their tasks of tracking and reconciliation of different payments. Now, they can manage all payments from the unified platform for all payouts. Going forward, we will continue to work closely with our partners to understand their needs and offer them a more customized solution. We are expecting 100% growth, both in the number of transactions & volume by the end of this fiscal year.”

Srinivas Shanbhogue, VP, Retail Business, Schneider Electric said, “For Schneider Electric our electrician community is our valuable last mile connect to our customers. It was an honour to have been their support, and ease their situation, in the recent tough time, by facilitating immediate digital cash transfers to 10,000 members of the community, through Paytm.”

Paytm Payouts is driven by a powerful API that can be integrated with any platform, thereby eliminating the need for corporates to invest time & resources to build their own platform. Conjoined with the benefits of Paytm ecosystem, the service helps the companies can manage their entire business with Current Accounts, Collections, Payouts and business expenses. Also, it offers the highest success ratio of transactions in the industry.

Paytm Payouts processed over Rs. 1500 Crore in salaries and other benefits for medium & large enterprises

India’s leading financial services company Paytm has today announced that more medium & large enterprises are moving towards digital money transfers. Paytm Payouts, the digital money transfer service has become a must-have tool for businesses that make regular payments to their employees, vendors and business partners. During this ongoing lockdown, over 5000 companies have used Paytm Payouts to pay salaries & food allowances to employees, incentives & rewards to housekeeping, labourers & other contractual staff; and even for expenses like utility bills of their offices.

Launched this year, Paytm Payouts offers APIs or Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. Within 3 months of lockdown, Paytm Payouts has transferred over Rs. 1500 crores either to the Paytm wallet, food wallet, gift voucher, or bank account of millions of beneficiaries. Companies like Pidilite Industries, Schneider Electric and Havmor Icecreams Pvt Ltd use the service to transfer money to their employees, vendors and business partners such as masons, painters, carpenters, electricians, sellers, etc.

Narendra Yadav, Vice President - Paytm said, “During the ongoing lockdown, we have witnessed that more organisations are relying on digital money transfers to pay salaries & other benefits to their employees, vendors, and business partners. Paytm Payouts is a unique product that minimizes their tasks of tracking and reconciliation of different payments. Now, they can manage all payments from the unified platform for all payouts. Going forward, we will continue to work closely with our partners to understand their needs and offer them a more customized solution. We are expecting 100% growth, both in the number of transactions & volume by the end of this fiscal year.”

Srinivas Shanbhogue, VP, Retail Business, Schneider Electric said, “For Schneider Electric our electrician community is our valuable last mile connect to our customers. It was an honour to have been their support, and ease their situation, in the recent tough time, by facilitating immediate digital cash transfers to 10,000 members of the community, through Paytm.”

Paytm Payouts is driven by a powerful API that can be integrated with any platform, thereby eliminating the need for corporates to invest time & resources to build their own platform. Conjoined with the benefits of Paytm ecosystem, the service helps the companies can manage their entire business with Current Accounts, Collections, Payouts and business expenses. Also, it offers the highest success ratio of transactions in the industry.

Paytm Postpaid gives easy access to credit of up to a lakh to Indians amidst the ongoing pandemic. Here's how you can apply for it to avail of the benefits

Amidst the ongoing Pandemic, millions of Indians are switching to digital payments to avoid any human contact and safeguard themselves from the spread of novel coronavirus. To help Indians stay safe and eliminate the need to withdraw cash for meeting monthly household expenses, Paytm has expanded its Postpaid service to a large set of payment use-cases, with an enhanced credit limit of up to Rs. 1 lakh. With this lending facility, the users are now empowered to buy home essentials from kirana stores, retail outlets and make purchases on their favourite apps and conveniently pay for all these expenses the next month. Here are the benefits of this service:
You can shop today and pay the bill next month

Paytm Postpaid offers digital credit to its users and comes as a great relief for those who prefer digital transactions over cash. It also enables its users who are short of hard cash to make payments and either pay back the full amount next month or convert it to flexible monthly EMIs. 

It enables its users to buy groceries, milk, and other home essentials from neighbourhood Kirana stores and also at popular retail destinations such as Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, Shoppers Stop among others. Additionally, this digital lending service has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino's, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer's among others. 

With the increased credit limit up to Rs. 100,000, it also empowers users to make payments for large items such as furniture and consumer electronics among others. 

Bill repayment and free passbook access

The users can conveniently make the bill repayment by the 7th of each month or earlier. Additionally, they are also given an option to convert their Postpaid bill into EMIs.  Not just this, they can access the free passbook on their Paytm app and keep a tab of their everyday expenses. 

3 variants of Paytm Postpaid- Lite, Delite and Elite 

Paytm Postpaid is offered in partnership with two leading NBFCs in the country and has introduced three variants of this service to ensure all its users, including the ones with no credit score can avails of its benefits. Moreover, there is no cost associated with activating & keeping Paytm Postpaid or any of its variants.   Postpaid Lite comes with limits up to Rs. 20,000 and a convenience charge which will be added to the monthly bill. Even the users without a credit score available can apply for this facility. 

- Postpaid Delite and Elite offer credit limits from Rs. 20,000 to Rs. 1,00,000 in monthly spending with no convenience charges. Delite and Elite users will also get access to all the postpaid features.  

How to activate Paytm Postpaid

Step 1: Log in to your Paytm account and type ‘Paytm Postpaid’ by clicking on the search icon on the top-right of your homescreen

Step 2: Next, select My Paytm Postpaid icon. The entire KYC process is digital and can be completed within a few minutes. The user is not required to upload any documents.
Step 3:  After completing your KYC with our partner NBFC, your service will be activated instantly and will be shown the credit limit of your account.

Paytm sets up its biggest campus in Noida, plans similar expansion in Bengaluru to accommodate its growing teams

·        Takes up over 5.5 lakh square feet of space spread across two towers in Noida, Sector 98, Uttar Pradesh

·        Paytm and affiliate companies to all work from this complex

·        Plans to take up 1.5 lakh square feet of office space in Bengaluru as it expands Paytm Mall, Paytm Money, Paytm Travel & other business units

New Delhi, June 18, 2020: India's leading financial services platform Paytm, today announced that it has set up its largest campus yet in Noida, Uttar Pradesh to accommodate its growing team. The company has taken up over 5.5 lakh square feet of space comprising of 21 floors spread across two towers in the newly set up office complex. Paytm plans to gradually shift all operations based in Delhi NCR to this campus including the headquarters of One97 Communications. Noida has been the headquarters of Paytm for over two decades now. The company is on-track to shift to the new premises by December this year.

While the new campus will have over 5,000 seats, the company will follow all social distancing guidelines that the government would mandate when it shifts operations to the new complex by this year-end. The campus houses a multi-level car parking, shopping complex, well laid out food courts and gourmet restaurants among other things. All teams of Paytm would be housed on various floors of the same tower of the complex resulting smooth day to day operations. At the moment, Paytm is promoting work from home culture to ensure the safety of its employees. As it gradually shifts all operations into the new complex, the company has decided to give up the leases of a total of 19 facilities across the country, out of these 16 are small regional sales offices.

Paytm is also planning to take up over 1.5 lakh square feet of office space in Bengaluru as it expands operations and teams of Paytm Mall, Paytm Money, Paytm Travel and other business units. The planned new campus will house Paytm's large engineering base the company is in the process of setting up. 

NarendraYadav, Vice President - Paytm said, "Paytm is a dynamic firm that is expanding at a rapid scale. This new state-of-the-art facility will help us build the best financial services and technology for the citizens of our country. While we have time to move into our biggest campus, we are streamlining some of our real estate spread across India. We will not extend the leases of some of our offices as our colleagues will continue working from home. Consolidating our offices to one large campus would improve operational efficiency and further create synergies between various teams and processes."

Paytm introduces contactless ticketing for state-run buses for safe city commuting

- Move to benefit transport corporations such as DTC, BEST, Punjab Roadways, CTU, OSRTC, KSRTC among others

- Eyes powering contactless ticket buying facility in more than 20,000 state-run buses

- Launches service in Chennai in association with the Metropolitan Transport Corporation and Andhra Pradesh State Road Transport Corporation

Kolkata, 16^th June’20: India's leading financial services platform Paytm today announced that it has launched a contactless ticket buying facility for state-run local transport buses and promote safe intracity travel. The company is enabling it's innovative QR based payments service on the buses combining it with the Paytm Soundbox for buying tickets. Paytm is in talks with 20 state transport departments and is joining in their efforts to ensure that citizens are able to travel safely within cities following all social distancing norms.

The company aims to enable contactless ticket-buying facility in over 20,000 state-run busses in the first phase of going live with this service. Paytm has already started running pilots with some of the states including Tamil Nadu which has launched this service in Chennai in association with the Metropolitan Transport Corporation.

The company said that it has put its QR at various convenient locations on the buses which passengers can easily scan and make payments for tickets. The driver will have Paytm Soundbox installed on the dashboard which will inform the conductor every time someone pays for a ticket. The QR code powered by Paytm accepts all types of digital payment apps - wallet, cards, UPI.

Abhay Sharma, Sr. Vice President - Paytm said, "The core idea behind contactless payments is to promote social distancing and save lives. With the government gradually unlocking the country and encouraging people to safely commute within the city, we believe our solution will immensely help to ensure the safety of citizens. We urge state transport departments to take a step in this direction and promote contactless payments for travel ticketing."

Paytm introduces contactless ticketing for state-run buses for safe city commuting

• Move to benefit transport corporations such as DTC, BEST, Punjab Roadways, CTU, OSRTC, KSRTC among others
• Eyes powering contactless ticket buying facility in more than 20,000 state-run buses
• Launches service in Chennai in association with the Metropolitan Transport Corporation and Andhra Pradesh State Road Transport Corporation

Mumbai, 16^th June’20: India's leading financial services platform Paytm today announced that it has launched a contactless ticket buying facility for state-run local transport buses and promote safe intracity travel. The company is enabling it's innovative QR based payments service on the buses combining it with the Paytm Soundbox for buying tickets. Paytm is in talks with 20 state transport departments and is joining in their efforts to ensure that citizens are able to travel safely within cities following all social distancing norms.

The company aims to enable contactless ticket-buying facility in over 20,000 state-run busses in the first phase of going live with this service. Paytm has already started running pilots with some of the states including Tamil Nadu which has launched this service in Chennai in association with the Metropolitan Transport Corporation.
The company said that it has put its QR at various convenient locations on the buses which passengers can easily scan and make payments for tickets. The driver will have Paytm Soundbox installed on the dashboard which will inform the conductor every time someone pays for a ticket. The QR code powered by Paytm accepts all types of digital payment apps - wallet, cards, UPI.

Abhay Sharma, Sr. Vice President - Paytm said, "The core idea behind contactless payments is to promote social distancing and save lives. With the government gradually unlocking the country and encouraging people to safely commute within the city, we believe our solution will immensely help to ensure the safety of citizens. We urge state transport departments to take a step in this direction and promote contactless payments for travel ticketing."

Amid COVID-19 pandemic: Paytm expands 'Postpaid' services to Kiranas& other internet apps; enhances credit limit up to Rs. 100,000

·        Available for recharges & bill payments on Paytm, online payments on internet apps and also for buying home essentials from kirana stores

·        Introduces Paytm Postpaid Lite, Delight & Elite to offer unsecured loans

·        Working with multiple NBFC partners to expand the offering

Mumbai, 9^th June’20: India’s leading financial services firm Paytm has today announced a significant expansion of 'Paytm Postpaid' to a large set of payment use-cases. This service can now be availed to buy groceries, milk, and other home essentials from neighbourhoodKirana stores and also at popular retail destinations such as Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, Shoppers Stop among others. Additionally, it has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino's, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer's among others. This service comes as a great relief to Paytm users during the ongoing lockdown, as the increased credit limit & a large set of use-cases will eliminate the need to withdraw cash for meeting monthly household expenses.

Paytm Postpaid is offered in partnership with two leading NBFCs with an instant credit line for various payments to Paytm app users. Seeing an increasing demand for consumer credit during the ongoing pandemic, the company has increased this credit limit up to Rs. 100,000 of monthly spends to enable payment for large items such as furniture and consumer electronics among others. Initially, select users will be shown a Postpaid icon in the Financial Services Section to avail Paytm Postpaid post completion of their online KYC with partner NBFC. The bill repayment can be done by the 7th of each month or earlier. Paytm Postpaid offers a passbook to analyze monthly spends to plan everyday expenses.

The company has introduced 3 variants of Postpaid viz. Lite, Delite and Elite which will be offered based on partner NBFC's assessment. While Postpaid Lite comes with limits up to Rs. 20,000 and a convenience charge which will be added to the monthly bill, the Delite and Elite offer credit limits from Rs. 20,000 to Rs. 1,00,000 in monthly spends with no convenience charges. Postpaid Lite has been designed so that users without excellent credit score are also able to avail the convenience & benefits of this service. However, there is no cost associated with activating & keeping Paytm Postpaid or any of its variants.

Amit Nayyar, President at Paytm said, "Paytm Postpaid is our mission to provide access to credit to every Paytm user. During this ongoing pandemic, it becomes more important for us to stand by fellow Indians and give them the power to buy on credit when required. We are excited to expand this service for payments at kirana and online stores that play an important role in the whole neighbourhood and online shopping experience. We will keep expanding the offering to include more and more Paytm users."

Paytm Payments Bank emerges as a success story of the banking model, registers profit for the 2nd consecutive year

• Achieves Rs. 29.8 crore PAT in FY '20, profit grows by 52%
• Launches cheque book facility for the account holders

Paytm Payments Bank Limited (PPBL), which is India’s largest profitable payments bank has today announced that its profit in FY ’20 has increased to Rs. 29.8 crores PAT, up from Rs. 19.2 crores in FY ’19. This has been largely led by its higher customer acquisition in smaller cities & towns to drive financial inclusion in the country. The annual revenue has also shown a sharp increase in the fiscal year and has crossed Rs. 2100 crores.

Continuing to lead digital banking in the country, the bank has facilitated more than 485 crore transactions worth Rs. 4.6 lakh crores. Domestic money transfers have accounted for ~Rs. 29,000 crores, which is significant growth from last fiscal year. The CASA base has increased to over 58 million, helping the bank to double its deposits in savings accounts to over Rs. 1000 crores, compared to the last year.

PPBL has also announced the upcoming launch of its cheque book facility for all account holders. The customers can order their cheque book through their app. They would be required to upload their signature & supporting documents on the ‘Cheque Book’ section; select the variant (10 or 25 leaves) and submit their request after payment. Once requested, the cheque book would be delivered at the KYC address within 7-10 working days. Bank customers will also be able to track the status of issued cheques on their app.

Satish Kumar Gupta, MD & CEO of Paytm Payments Bank Ltd. said, “We have continued to lead digital banking in India and have constantly improved upon our own benchmark for performance. In FY ’20 we have registered growth across all parameters, including the number of account holders, saving account deposits, fixed deposits and transactions. Our focus remains on launching innovative products & services to accelerate financial inclusion in our country.”

In FY ’20, PPBL has significantly expanded the reach of digital banking across the country. With over 5.8 crore digital debit cards, the bank now has a debit cardholder in every district of India and registers over 45 lakh debit card transactions per month. Recently, PPBL has launched the Direct Benefits Transfer (DBT) facility where it allows customers to receive the benefits of over 400 government subsidies directly into their PPBL Savings Account.

Paytm appeals to the government to enable contactless food ordering at restaurants with 'Scan to Order

India's leading financial services platform Paytm is having talks with over 10 state governments to enable 'Scan to Order' contactless food ordering and payments across restaurants, coffee shops, take away establishments to ensure social distancing and promote safe dining. Having the Paytm 'Scan to Order' contactless QR code-based solution at eateries can help establishments regain the confidence of customers and encourage eating out while staying safe.

With the government further easing lockdown norms and opening malls, restaurants in non-contaminated zones, the company is having advanced discussions with multiple state governments urging them to make contactless QR based food ordering part of the standard operating procedure for opening food establishments.

Paytm's 'Scan to Order' helps in maintaining social distancing and promotes safe dining & hygienic food ordering experience. The company has innovated a unique QR that will be displayed at these restaurants that users can scan from the Paytm app to browse the menu and place instant orders from their mobile phones. This food ordering experience supports each of the payment methods including Paytm Wallet, Paytm UPI, net-banking, and cards, as well as offers, live order updates on the Paytm app.

Paytm is offering 'Scan to Order' QR Code as a white label product to restaurants and food establishments so that they can use their logo, brand colour on the QR card, and it can be merged into their own brand pamphlets, hoardings, and signboards. The company is all set to launch Paytm 'Scan to Order' at 1 lakh plus outlets in the first phase of the rollout.

Nikhil Saigal, Vice President Paytm said, "We welcome the new MHA guidelines to open malls, restaurants in non-contaminated zones. We strongly believe that our contactless food ordering solution would not only help establishments get back to business but also save lives as the core idea of this innovative product is based on maintaining social distancing and dining out the smarter safer way. Over the next few days, we will urge all state governments to make contactless food ordering at all commercial establishments across the country."

Paytm Travel sees 60,000 flight & train bookings as citizens head back home in lockdown 4.0

• Over 8,000 flight tickets booked this Eid-ul-Fitr on May 25
• Top-flight routes Delhi-Patna, Bengaluru-Kolkata, Mumbai-Varanasi and Delhi-Srinagar
• Close to 3,000 train tickets getting booked every day for 230 trains that have been opened for ticketing
• Migrants booking train tickets in large numbers from New Delhi to Patna, Kanpur, Howrah, Guntur-Secunderabad other top routes

Mumbai, 2^nd June’20: India’s horizontal travel major that has been a pioneer in launching innovative features for flight, bus and train travellers, Paytm Travel today announced that over 60,000 fight and train tickets have been booked in the last one week post the easing of lockdown travel norms. According to the travel major, most of the tickets booked for flight as well as for trains are by citizens heading back home from metropolitans to home towns in tier-II and tier-III cities.

Due to the last three consecutive lockdowns, several travellers had to stay back in metro cities mainly New Delhi, Mumbai, Bengaluru which they might have visited for work or leisure. They are now taking this opportunity to book a ticket back to their home towns in non-metro cities including Patna, Jaipur, Lucknow, Ahmedabad, Varanasi, Guwahati, among others.

Few of the sectors such as Delhi-Patna, Mumbai-Varanasi, Bengaluru-Guwahati are witnessing unusually high demand as compared to typical busy routes like Delhi-Mumbai and Bangalore-Delhi. Paytm Travel is working closely with all airlines and also keeping abreast with all the guidelines of the aviation ministry as well as rules being laid out by the various state governments to ensure that passengers are able to return home safely. Some of the top destination states according to Paytm Travel are Delhi, West Bengal, Uttar Pradesh, and Bihar. The states from where most people are flying out include Maharashtra, Karnataka, Tamil Nadu, and Telangana.

According to the travel major over 8,000 flight tickets were booked on Eid-ul-Fitr on May 25. The surge of the tickets bought during the weekend has been the highest. With the government clearly charting out travel guidelines and restrictions and most flights running as per schedule, flyers have been making an informed decision in buying tickets and cancellations have been quite less.

At present, the government has allowed train ticket bookings for 230 trains across the country. Close to 3,000 train tickets are getting booked daily in the last seven days. Paytm Travel has also witnessed a large number of train bookings by migrants who are heading back to their home towns in Bihar, Telangana, West Bengal, Uttar Pradesh among other states. Some of the popular routes include New Delhi-Kanpur, New Delhi-Prayagraj, Guntur-Secunderabad among others.

The flight and train search volume on Paytm Travel in the last seven days has been trending at close to 200% of the average daily search volume witnessed before the lockdown began in March. Since the bookings opened up, Paytm has witnessed over 85 lakh searches for flight and train tickets with a surge in demand happening over the weekend. The searches hit a peak of 1.77 lakh requests per hour during the weekend.

Abhishek Rajan, Senior Vice President - Paytm Travel said, "The pent up demand still remains for non-metro routes from metro cities as eager travellers are booking tickets to go back home. For Delhi, Mumbai, Bangalore as the origin cities, we are witnessing large numbers of bookings for destinations such as Patna, Guwahati, Varanasi, Bhubaneswar, Bagdogra, Lucknow, Ranchi among others. While there is a surge in demand, we think it will taper down with time. After train services were resumed on limited routes, migrants are booking tickets in large numbers."

Paytm enables Vodafone Idea recharges for crores using feature phones with their UPI ID

India’s leading financial services platform Paytm is now empowering feature phone users to recharge for their Vodafone Idea numbers with just a valid UPI ID. Along with the telecom major and National Payments Corporation of India (NPCI) to extend this service throughout the country. The move would help crore of citizens who mostly use feature mobile phones to now top up their numbers without having the need to visit physical stores. The company added said that there is no need to have a mobile-internet data facility and non-Paytm app users can also easily avail of this service.

Paytm said that this service is based on the NPCI’s innovative payment service *99# which works on the Unstructured Supplementary Service Data (USSD) channel. This service allows mobile banking transactions using basic feature phones without the need of having a mobile internet data facility for using USSD based banking. It is envisioned at the financial inclusion of the underbanked in mainstream banking services.

Paytm which is working towards the ultimate goal of bringing half a billion Indians into the mainstream economy, has taken part in this initiative to ensure that millions of migrants who might be away from home and have limited means, stay connected with their families

Abhay Sharma, Sr. Vice President - Paytm said, "There are over 550 million feature phone users in the country. A majority of them are migrants and daily wage earners. Due to the ongoing lockdown, many people who rely mainly on mobile phone stores, recharge kiosks are finding it difficult to top-up their basic feature phones which rarely have internet data facility. This USSD based service would help all these individuals. Through this partnership with Vodafone Idea and NPCI, we will reach out to all these individuals and support them in these testing times."
Praveena Rai, COO, NPCI said, “We believe our USSD service would facilitate feature phone users having a UPI ID, to constantly keep in touch with their near and dear ones even if they don’t find mobile recharge shops in their localities. The *99# service is a welcome move, especially in the current situation. With just a UPI Id, people using feature phones can recharge their phones on-the-go without the internet. The USSD service would also help people register their UPI IDs on BHIM UPI and provide them with a seamless mobile recharge experience”.
Avneesh Khosla, Director-Marketing, Vodafone Idea Limited said, “It is our constant endeavour to ensure that our customers remain connected and safe during these times. In the last 2 months, we have launched a slew of initiatives to help consumers stay connected. We believe that this partnership with Paytm will help facilitate a large number of our digitally unconnected customers to recharge through USSD without being dependent on mobile internet, any digital app, or a physical retail touchpoint. Through this partnership we will be able to provide a simple and secure solution, enhancing the convenience factor to these pre-paid customers during very testing times so as to ensure that our consumers do not have to leave the safety of their homes to recharge their phones." The company said that there are two ways of recharging the phone using this service. If a customer's UPI ID is not registered with BHIM UPI, they then need to Dial *99# after which they are shown all bank accounts linked with the mobile number from where the USSD is dialled in. The customer then selects the bank account he wants to register his UPI ID with and sets up a UPI PIN.

Paytm Travel sees 85 lakh flight searches as grounded travellers head back home

Mumbai, May 25, 2020: India's leading financial services platform Paytm Travel, today announced that with the government easing lockdown norms and allowing domestic airlines to resume operations, the company has seen an increase in the demand for air tickets. According to Paytm Travel, a majority of the tickets being sold are of travellers going from metropolitans to tier-II and smaller cities. 

The flight search volume on Paytm Travel in the last few days has been trending at close to 200% of the average daily search volume witnessed before the lockdown began in March. Since the bookings opened up, there has been over 85 lakh searches for flight tickets with a surge in demand happening over the weekend. The searches hit a peak of 1.77 lakh requests per hour during the last three days.

Due to the last three consecutive lockdowns, several travellers had to stay back in metro cities mainly New Delhi, Mumbai, Bengaluru which they might have visited for some work. They are now taking this opportunity to book a flight back to their home towns in non-metro cities including Patna, Jaipur, Lucknow, Ahmedabad, Varanasi, Guwahati, among others. Few of the sectors such as Delhi-Patna, Mumbai-Varanasi, Bengaluru-Guwahati are witnessing unusually high demand as compared to typical busy routes like Delhi-Mumbai and Bangalore-Delhi. Paytm Travel is working closely with all airlines and also keeping abreast with all the guidelines of the aviation ministry as well as rules being laid out by the various state governments to ensure that passengers are able to return home safely.

Abhishek Rajan, Senior Vice President - Paytm Travel, "There is a pent up demand for non-metro destinations from metro cities. Eager flyers are booking tickets to go back home. This has led to a jump in searches and ticket bookings on our platform. While there is a surge in demand, we think it will taper down with time."

Paytm Travel over the last several weeks has taken a number of steps to help travellers who had booked tickets but were not able to fly due to the ongoing lockdown. It was among the firsts to provide the ability to its users to view and use their credit shell refund balance on Paytm for booking any new flight of their choice. Travellers who had booked tickets for these suspended flights were issued a refund by the airlines in the form of a credit shell balance of an amount equal to the cancelled flight ticket value. Users can redeem this balance for booking a flight ticket on the same airline for any future journey date in the next 12 months.

Paytm Travel is India’s first horizontal major to enter online travel and has been a pioneer in launching innovative features for flight, bus and train travellers. The company has already launched a free cancellation service that allows users to cancel their travel tickets without requiring to pay any cancellation charges. Other popular features include Live Train Tracking and Voice Search that was rolled out to make train ticket booking, seamless experience for users.

Paytm Insider brings The Bombay Canteen, O’ Pedro and Bombay Sweet Shop digital and at home experiences

‘365 days of Eggs Kejriwal’ gift cards, GoanPoee making digital workshop and lots more on sale

Mumbai 13^thMay 2020:Hunger Inc, the parent company to Bombay’s beloved restaurants The Bombay Canteen, O’ Pedro and Bombay Sweet Shop has launched ‘Countdown to Good Times’ on the Paytm Insider platform. Fans of its food, drinks and design philosophy can now learn from Hunger Inc’s top chefs in online workshops, purchase its merchandise and even book future dining experiences that the team will create for customers at their homes.

The first digital workshop on May 9, which sold out within 2 days of launch, is a GoanPoee making workshop with The Bombay Canteen’s Chef Hussain. Keeping in mind restrictions in place, people have had the option to get the Poee ingredients delivered home ahead of the workshop if they choose, or get tickets that only provide access to the online workshop for a lower price. Paytm Insider’s seamless online experience, where e-tickets provide access to the online event over Zoom, will be in use here.

The team is also thinking ahead and providing a series of ‘at home’ experiences including a 4 course curated dinner for 4-8 people and a pastry making class with Pastry Chef HeenaPunwani or Mithaiwala Chef Girish Nayak that can be booked in advance. These will be delivered once lockdown restrictions are lifted and the restaurant resumes full operations in compliance with government regulations. And there’s more. The Bombay Canteen’s now iconic dish, ‘Kejriwal Toast’ can now be booked for a whole year, and the experience gifted to others through Paytm Insider.

The range of experiences announced helps re-imagine the near future of restaurant experiences and drives innovation at a time it is most needed. View all experiences available here -  https://bit.ly/3fpzonX

Paytm Insider CEO, Shreyas Srinivasan adds “We’ve been big fans of the thinking and commitment of the Hunger Inc team to bring a stand out dining experience. With the ‘Countdown to Good Times’, Paytm Insider is happy to be able bring something to look forward to now with Hunger Inc’s digital events, as well as in the future.”

About Paytm Insider

Paytm Insider is one of India’s leading entertainment platforms to discover and find tickets to the latest movies and exciting live as well as digital events and experiences. The company has welcomed fans to over 20,000 events across the country and sold over 7.5 million tickets (2018) to some of the most exciting and unforgettable experiences.

National Pension System (NPS) Now Live on Paytm Money

 

Paytm Money Launches the National Pension System (NPS) on its App

• Retirement planning with an additional tax deduction of up to Rs.50,000 under section 80 CCD (1B) over and above the benefits available under Section 80C
• Now invest in Tier 1 (Tax Saver scheme) and Tier 2 (Zero Lock-in Period scheme)

Kolkata, May 12, 2020: Paytm Money today announced the launch of the much-awaited National Pension System on its app, post-approval from the Pension Fund Regulatory and Development Authority (PFRDA), making it one of the first online platforms in the country to do so. This new addition is expected to benefit investors by helping them save for their retirement while also enabling tax benefits. In 2009 the ‘All Citizen Model’ in NPS was launched which allows any individual to enroll in NPS. However, till date, only 13 lakh investors have enrolled under the ‘All Citizen Model’. Paytm Money intends to increase this number manifold by enabling investments in NPS via a simple and quick digital investing experience.

“In a country like India with its huge young working population, retirement planning needs to be simplified. We want to bring NPS investing to millions of Indians and help them build a retirement corpus. It sits perfectly with our vision of democratizing wealth management in India. NPS as an offering also incentivizes the users to save additional taxes & hence complements the wide range of existing tax-saver mutual funds on our platform, said Amit Nayyar, President, Financial Services-Paytm. Paytm Money will be offering NPS with the choice to invest in Tier 1 (Tax Saver scheme) and Tier 2 (Zero Lock-in Period scheme), and provide a comprehensive platform to investors to invest in both the Tier 1 and Tier 2 accounts seamlessly.

The addition of NPS to an already feature-rich platform is a smart move that will aid investor journey in more ways than one. NPS is a smart pension scheme that helps in building a retirement corpus in a systematic way with a regular income post-retirement. Additionally, one also gets to claim a tax benefit of up to Rs.1.5 lakh under Section 80 CCD (1) and an additional tax deduction of up to Rs.50,000 under section 80 CCD (1B) over and above the benefits available under Section 80C. The tax benefit available under Section 80 CCD (1) is within the overall ceiling of Section 80 CCE. Hence, investments in NPS allow one to enjoy tax benefits to the tune of Rs 2 lakh.

With more than 5 million users exploring its platform for investments, today Paytm Money claims to have investors from 98% of pin codes of India. The team at Paytm Money sees a similar trajectory for NPS on its app given the limited penetration of the product in the country and the ease of accessibility the app offers.

About Paytm Money:

Paytm Money is a wholly-owned subsidiary of One97 Communications that owns and operates Paytm. In addition to direct mutual funds & NPS investments, it intends to offer Digital Gold also on its platform. The company has received regulatory approval for offering Stock Broking to its users and is expected to launch them soon.

Paytm Money’s vision is to become a full-stack investment and wealth management platform and bring wealth creation opportunities to millions of Indians. Headquartered in Bengaluru, the team is 300+ member strong.

Paytm Payments Bank registers a sharp increase in fixed deposit during lockdown; crosses Rs. 600 crores in FDs

Mumbai, 8^th May’20: Paytm Payments Bank Ltd (PPBL), which is India’s largest & only profitable payments bank has crossed Rs. 600 crores in fixed deposit accounts, held with its partner IndusInd Bank. During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits during the ongoing lockdown.

The bank, which started with the aim of bringing the underserved masses into the digital banking fold has continued to lead the way with its innovative offerings. PPBL offers its customers to opt for an FD account with its partner bank, allowing them to earn up to 7% p.a. interest, which is among the highest in the industry. The customers can instantly redeem the partial/complete amount from their fixed deposit at any time free of charge.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “Our efforts are aligned with our mission of bringing financial inclusion in our country. We believe that wealth management products should be available to all, irrespective of their quantum of wealth. It is a proud moment for us to see that millions of bank account holders understand the benefit of fixed deposits. This also signifies the trust & relationship that we have built with our customers over the years."

After crossing Rs 1000 crores in savings accounts, this is another milestone achieved by the bank. PPBL has also played a leading role in spreading the reach of debit cards across the country. With over 57 million digital debit cards, the bank now has a debit cardholder in every district of India and is one of the largest RuPay card issuers in the country. It offers flexibility to its customers to choose from VISA, MasterCard, and RuPay debit cards.  

Paytm Payments Bank crosses Rs 1000 crore in savings account deposits; launches Direct Benefit Transfers scheme

Paytm Payments Bank Ltd (PPBL), which is India’s largest & only profitable payments bank has crossed one more milestone in its successful journey. The bank today announced that it has crossed Rs. 1000 crore in deposits by over 57 million savings account holders. PPBL has been witnessing an accelerated rise in the deposits, as more people are embracing digital banking during this global pandemic of COVID-19.

In a statement, PPBL has also confirmed that its customers can now receive the benefits of over 400 government subsidies directly into their PPBL Savings Account. The bank has now implemented the option to avail benefits of Direct Benefit Transfers (DBT), which is a scheme by Government of India to transfer the subsidies of various social welfare schemes like LPG gas subsidy, MNREGA payments, Old Age Pension, Scholarships directly into the beneficiary’s bank account.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank said, “We have always strived to provide a wholesome banking experience to our users, and direct subsidy transfers would help millions of customers, especially those from the tier 2 & 3 cities”.

PPBL’s savings account holders can opt for DBT by submitting an online request through their Paytm Payments Bank Android app. Once the required details are submitted, it would take 2-3 days to process the request. There are no charges for account linking to receive subsidies, and customers can also check the status on their banking app.

The bank which was started with the aim of bringing the underserved masses into digital banking fold has continued to lead the way. Besides offering current & savings bank accounts, the bank has also played a leading role in spreading the reach of debit cards across the country. With over 57 million digital debit cards, the bank now has a debit cardholder in every district of India. It offers flexibility to its customers to choose from VISA, MasterCard, and RuPay debit cards. PPBL registers over 4.5 million debit card transactions per month.