India has once again pushed back a contentious plan to limit big technology companies’ control of the nation’s digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any individual […]
India again delays rules to break PhonePe-Google Pay duopoly Read More »
India’s payments regulator is set to decide as early as Monday whether to curb the dominance of Walmart’s PhonePe and Google in the nation’s fast-growing mobile payments market, a move that could reshape how its billion-plus population moves money. The decision centers on UPI, or Unified Payments Interface, a network backed by more than 50
India’s mobile payments dilemma | TechCrunch Read More »
Paytm has agreed to sell its stake in Japanese payments firm PayPay to SoftBank for $279.2 million, as the Indian firm sheds non-core assets following a bruising regulatory clampdown earlier this year. The sale of Paytm’s stake in PayPay, which it received through acquisition rights six years ago, follows months of restructuring at the Indian
Paytm sells PayPay stake to SoftBank for $279.2 million Read More »
Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction on many of its operations. UPI, which processes over 15 billion monthly transactions, dominates India’s online payments. Walmart-owned PhonePe and Google Pay process about 87% of UPI transactions, whereas Paytm’s market share has
India’s Paytm wins approval to resume payments growth Read More »
The governing body overseeing India’s popular UPI payments rail is considering easing its proposed market share cap for operators like Google Pay, PhonePe and Paytm as it struggles to enforce limitations, two people familiar with the matter told TechCrunch. National Payments Corporation of India (NPCI), which reports to India’s central bank, is considering increasing the
India weighs easing market share limits for UPI payment operators Read More »
Zomato, the Indian food delivery giant, has acquired the entertainment ticketing business of financial services firm Paytm for $244.1 million, signaling a strategic move to expand its “going out” offerings. The acquisition, among the largest M&A deals among new-age Indian tech companies, includes Paytm’s ticketing services for movies, sports, and events. As part of the
Zomato buys Paytm’s entertainment ticket business for $244 million Read More »
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Paytm’s loss widened even as revenue declined by 36% year-on-year as the once-poster star of Indian startup ecosystem continues to grapple with the Reserve Bank of India’s clampdown that significantly curtailed the payments bank business unit. The Noida-headquartered firm’s loss more than doubled to $100 million in the quarter ending June, it disclosed Friday. The
Paytm loss widens and revenue shrinks following regulatory clampdown Read More »
Indian digital payments platform Paytm warned of job cuts on Wednesday after reporting that its net loss widened in the fourth quarter as it grapples with a recent regulatory clampdown. One 97 Communications, Paytm’s parent, said it expects to cut employee expenses and pare down its annual costs on staff by $48 million to $60
Paytm warns of job cuts as losses swell after RBI clampdown Read More »
