Skip to main content

Paytm’s IPL Plan Is Back

 


Payments unicorn Paytm on Monday brought back the cricket-led cashback scheme it removed from its app last week amid a fracas with Google.

Paytm had earlier claimed that the cashback feature was the reason why Google dropped it from its PlayStore. However, Google said cashbacks do not violate its policies but linking to an external website where users enter paid tournaments to win real money does.

“While we remain firm in our stance on the action taken by Google, we have made a few changes to our promotions so that our cricket celebrations with you continue uninterrupted. The essence of ‘Paytm Cricket League’ remains the same—you get surprise cricket player stickers on each transaction and earn cashback on collecting them," Paytm said in a blog post on Monday.

On 18 September, Google removed the Paytm and Paytm First Games from its Play Store, citing violation of its guidelines on gambling. The Paytm app was restored after the company complied with the platform’s rules.

Paytm First Games app, however, remains suspended.

“Our users can be assured that Paytm has never been involved in anything that can be considered betting or gambling. We believe such arbitrary actions and accusatory labelling go against the laws of our country and acceptable norms of fair competition by arbitrarily depriving our users of innovative services," Paytm said on Monday.

Through its ‘Paytm cricket league’ cashback, Paytm claims its users can earn ‘Paytm cricket player stickers’, and add them to their album on the Paytm app. On completing player sticker related milestones, Paytm users will be eligible to get cashback up to ₹1,000, the payments company explained on its blog.

“In the previous version, users were given free stickers on doing certain transactions. Upon collection of a certain number of free stickers, users were given some cashback. Users could also use these free stickers to be part of a free contest. In the current version, users are given free stickers on doing certain transactions and upon collection of a certain number of stickers they get cashback," a Paytm spokesperson told Mint.

Paytm last week termed the temporary ban an ‘arm-twisting’ tactic, adding Google didn’t give it an opportunity to explain its new cashback sticker feature. “This (removing apps temporarily from Play Store) will be familiar to all Indian internet firms as they face similar arm-twisting and fear of Google’s dominance," the Noida-based company said last week.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t
Post a Comment
Read more

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res
2 comments
Read more

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p
10 comments
Read more