One 97 Communications Ltd (PAYTM)

Paytm Introduces UPI Lite and Prioritizes RuPay Credit Card Integration - 25 Apr, 2024

Paytm has introduced UPI Lite on its app for wallet users, enabling quick and clutter-free small-value UPI payments up to ₹500 per transaction. The fintech firm is also prioritizing the integration of RuPay Credit Cards with UPI, aiming to encourage more frequent credit card usage among customers. Paytm is collaborating with banking partners to facilitate a seamless shift to its updated Unified Payments Interface (UPI) platform.

Paytm Struggles with UPI Migration as Market Share Drops - 24 Apr, 2024

Paytm faces challenges migrating existing users to its new UPI platform, causing a drop in market share to 9%. The company is collaborating with banking partners to ensure a smooth transition and plans to integrate RuPay Credit Cards on UPI.

Paytm Launches Soundboxes for UPI Payments - 23 Apr, 2024

One 97 Communications' subsidiary Paytm has launched two Made-in-India soundboxes for UPI and credit card on UPI payments, promising better instant notification when payments are received via QR code.

Paytm Completes Migration of Merchant Handles to YES Bank - 22 Apr, 2024

One97 Communications, the parent company of Paytm, has completed the migration of merchant handles on its platform to YES Bank after NPCI's direction last month.

Paytm Payments Bank Loses Market Share Due to Regulatory Constraints - 20 Apr, 2024

Paytm Payments Bank, the third-largest player in the UPI landscape, has experienced a decline in market share due to regulatory constraints imposed by the Reserve Bank of India. However, there are reports that the National Payments Corporation of India may review its decision to implement a 30% cap on payment players offering UPI services by the end of 2024.

Paytm's Market Share Drops Due to Regulatory Action - 19 Apr, 2024

One 97 Communications Ltd's subsidiary, Paytm, saw a decline in its market share from around 13% last year to 9% in March due to regulatory action against its associate company, Paytm Payments Bank. The firm also processed fewer transactions in March compared to January.

Paytm Receives Approval for User Migration to New PSP Handles - 18 Apr, 2024

Paytm has received approval from NPCI to migrate its users to new Payment System Provider (PSP) bank handles, including SBI, Axis Bank, HDFC Bank, and Yes Bank. The move comes after RBI restrictions on Paytm Payments Bank led to a drop in Paytm's unified payments interface market share. Shares of One97 Communications Limited surged following the announcement.

Paytm Receives Approval for User Migration to New PSP Banks - 17 Apr, 2024

One 97 Communications Ltd, the parent company of Paytm, has received approval from NPCI to migrate its customers to new payment service provider banks including Axis Bank, HDFC Bank, SBI and Yes Bank. This comes after Paytm Payments Bank faced regulatory issues in January.

Paytm Investment Approval Deferred by Indian Government - 16 Apr, 2024

The Indian government has deferred approval of Paytm's ₹50-crore ($6 million) investment in its Paytm Payment Services arm due to concerns about a Chinese shareholding in the parent company. However, Paytm denies receiving any communication indicating a deferral of a licence application or the imposition of penalties with regard to Paytm Payment Services Ltd (PPSL).

New Licensing Framework to Affect Third-Party Operators Like Paytm and BharatPe - 15 Apr, 2024

The Reserve Bank of India is expected to introduce a new licensing framework for point-of-sale players, which could affect third-party operators like Paytm and BharatPe. These operators would need to obtain a license to continue their operations.

Paytm Faces Existential Crisis as Magicpin Provides Tech Services - 12 Apr, 2024

One 97 Communications Ltd's subsidiary Paytm is facing an existential crisis due to severe restrictions imposed by the Reserve Bank of India on its payments bank. The company is now looking at loan distribution business to offset revenue loss. Meanwhile, Magicpin is providing technology services for ONDC integration.

Paytm Stock Tumbles Amid Resignation and Regulatory Actions - 11 Apr, 2024

Shares of One97 Communications Ltd (Paytm) tumble due to the resignation of Paytm Payments Bank CEO and MD, regulatory actions, and corporate governance issues. The company's market valuation eroded by Rs 463.84 crore as Paytm Payments Bank faced prohibitory action from RBI.

Paytm Faces Regulatory Crisis Amidst Resignation of Key Executive - 10 Apr, 2024

Paytm faces a regulatory crisis as its associate entity, Paytm Payments Bank Ltd (PPBL), faces prohibitory action from banking regulator RBI. Despite this, mutual funds and foreign portfolio investors have increased their stakes in the company. However, shares of One97 Communications, parent company of Paytm, fell over 1% after PPBL's Managing Director and CEO resigned. Bank of America has resumed coverage with an underperform rating and a target price of Rs 400.

Paytm's Stock Erodes Following RBI Ban - 09 Apr, 2024

Paytm's parent company, One97 Communications, faces a decline in UPI market share and the resignation of Paytm Payments Bank's CEO amidst an ongoing RBI ban. BofA predicts earnings recovery is 2-3 quarters away.

One97 Communications Approves Grant of Stock Options and Allotment of Equity Shares to Eligible Employees - 06 Apr, 2024

Paytm parent company, One97 Communications, has approved the grant of 91,250 stock options under ESOP 2019 and allotment of fully paid-up 2,91,388 equity shares under ESOP 2008 and 2019. Each stock option is convertible into one fully paid up equity share with an exercise price per stock option of Rs 9.

Paytm Parent Company in News Amidst RBI Restrictions - 05 Apr, 2024

Paytm's parent company, One97 Communications, faces an expected net loss for Q1 2024 due to RBI restrictions. Meanwhile, Pai Platforms launches a new shopping app on ONDC, while One97 Communications approves grants of stock options and fully paid-up equity shares. Additionally, Paytm has restarted its lending operations.

Paytm Resumes Lending Activities with Existing Partners - 02 Apr, 2024

One 97 Communications' subsidiary Paytm has resumed its lending activities starting with merchant loans through partnerships with SMFG India Credit and Shriram Finance. The company is also in talks to onboard Muthoot Finance as a new lending partner for both personal and merchant loans.

Paytm Shares Drop Due to High Valuation and Regulatory Issues - 29 Mar, 2024

One 97 Communications' subsidiary, Paytm, witnessed an 80% drop in its shares since its listing in 2021. Additionally, the company's stock prices dropped by 36% between April 2023 to March 2024 period due to regulatory issues such as RBI's order to wind up payments bank business and senior management resignations.

Paytm Nears Third Partner for Merchant Migration - 28 Mar, 2024

One 97 Communications Ltd, parent company of Paytm, is set to bring HDFC Bank onboard as its third partner for merchant migration. The move follows the addition of Axis Bank and Yes Bank as merchant acquisition partners earlier this month.