Abhishek Securities

  Noida-based financial services company,  Paytm  said that it will be partnering with various card issuers to introduce co-branded  credit cards , as it plans to issue two million cards to customers in the next 12-18 months. Along with this the company also announced that it has been building ‘Next generation’ credit cards which include - insurance protection against fraudulent transactions, a personalised spend analyser, and will offer instant one-touch services for changing of security pin, updating address, and blocking the card. Along with this, the company has digitised the credit card experience on the Paytm app - to include a digital application process, and help customers track issuance of their new credit card. It also offers the flexibility of choosing a convenient time for the collection of documents, on the app Paytm had launched its first co-branded credit card, called ‘Paytm First’ in May, last year, in partnership with Citigroup. Through this offering...

  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...

  Amid the tensions at the Line of Actual Control (LAC) in eastern Ladakh, in a major revelation, an Indian Express report claimed that China has hatched an espionage conspiracy against India.  A Shenzen-based technology company, named Zhenhua Data Information Technology Co. Limited, with links to the Chinese government and the Chinese Communist Party is keeping an eye on more than 10,000 Indians and organisations. The company calls itself a pioneer in using big data for 'hybrid warfare' and the 'great rejuvenation of the Chinese nation'. Among the prominent politicos include President Ram Nath Kovind, Prime Minister Narendra Modi, several union ministers, state Chief Ministers, among others.  The report claimed that those targeted also include venture capitalists, angel investors, founders and chief technology officers of the country’s promising startups and e-commerce platforms, and foreigner investors based in India. The focus is also on founders, CEO, CFOs, CTOs, an...

  With anti-China rhetoric gaining momentum in India,  Paytm  parent One97 Communications Ltd has come under fire after its single-largest shareholder ANT Financial said it has ‘significant influence’ over the company. The Hangzhou, China-headquartered financial institution, ANT Financial, which is gearing up for an initial public offering, had made the declaration in its draft prospectus in August. Responding to the criticism,  Paytm’s  founder Vijay Shekhar Sharma said: “It is illogical to call Paytm a Chinese company, when all our products and licences are governed by Indian regulators. Unlike other payment service providers, our payment operation is completely housed under Paytm Payments Bank (PPBL) [...] On the topic of significant influence, by accounting standards, any company with more than 20% stake in an establishment is considered to have a tag of ‘significant influence’." Paytm has successfully raised money from international investors, and counts So...

  Digital financial services  firm  Paytm  on Friday said its revenue for fiscal year ended March 31, increased to Rs 3,629 crore supported by increase in number of transactions across various segments and  point of sale  devices. The home-grown financial technology firm said its losses have narrowed by 40 per cent on a year-on-year basis. "We are on the path to empowering millions of Indians with digital financial services that would play a key role in building Atmanirbhar Bharat. We are also investing heavily in building digital services for our merchant partners. "Our efforts have started reflecting in the strong adoption of more profitable services by our consumers and merchants," Paytm President Madhur Deora said in a statement. Major growth registered from financial services and point of sales devices and optimising expenses resulted in a 40 per cent reduction in losses as compared to last year, the statement said. "We are on path to become ...

Paytm Money  is planning a full-scale launch of its retail stock broking service in six to eight weeks, newly appointed CEO  Varun Sridhar  told ET in an interview, marking the transition of the company into a retail broking platform. The wealth management subsidiary of Noida-based  One97 Communications Ltd  is currently operating in an “early-access” beta mode, with the full set of features available only to about 80,000 Android-based existing users on its platform. Paytm Money, which till now only allowed users to invest in  Mutual Funds , is targeting 250,000 new active users over the next year hoping to hit daily volumes of about 600,000 trades a day, said Sridhar. “We are planning to democratise the money management space for 300 million Indians,” said Sridhar, who recently replaced Pravin Jadhav who resigned as CEO earlier this year. Its new business model would involve a mix of commissions on intraday trades, interest income on loan against s...

  ·         Paytm Money stock trading option can be accessed by android users for now ·         Paytm Money received approval to start stock broking from Sebi in December last year   Paytm Money rolled out stock trading services through its application earlier this week on Monday. The largest mobile wallet company already had  mutual funds  and National Pension Scheme or NPS in its portfolio. The stock trading option can be accessed by android users for now. The company is working on to allow stock trading for iOS users as well.  Paytm  Money received approval to start stock broking from Sebi in December last year. Here are the key features. ·         Paytm Money supports 100% paperless account opening and a fully digital KYC process. The process of setting up an account and KYC compliance will take 24 hours. ·      ...

Paytm is one of the few large scale companies where hundreds of employees have made their fortune through employee stock options (ESOPs). Besides its staff, founders and employees of startups that were acquired by the Soft Bank-backed firm have also made significant amounts through ESOPs. Founding teams and employees of Plustxt, Shifu, Cube26, Little and Near buy have all benefited from such offerings. And now, Paytm has allotted equity shares to WeavedIn’s co-founders and employees, a company it had acquired in October 2018. According to regulatory filings, Paytm has allotted 2,309 equity shares to eight WeavedIn employees under the ESOP Scheme 2008 at an exercise price of Rs 90   per share. As per  Fintrackr ’s estimate, the six employees along with two co-founders have been collectively allocated the ESOPs worth Rs 4.8 crore. WeavedIn’s co-founders Jose kuttan and Jacob Pattara have been allotted Rs 1.73 crore and Rs 1.51 crore worth stocks respectively. The fresh allotment...