Commuters on the Mumbai Metro service will soon be able to pay for journeys using mobile payments platform Paytm... More
Paytm
Mobile payments to become ‘de-facto payment mode’ in India after banknote change
Mobile payment transaction volume in India is expected to grow more than 90% each year over the next five years, with digital payments becoming the “de-facto payment mode” in the country, in the wake of the government’s withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes... More
Paytm moves towards launching payments bank
Indian mobile payments provider Paytm has partnered with IT services company Wipro for the launch of its payments bank, which is expected in the first quarter of this fiscal year... More
Paytm aims to sign up 4m stores in India for mobile payments
Indian mobile payments platform Paytm plans to double its in-store merchant acceptance to four million locations this year, the company’s CEO has told Economic Times... More
Nielsen reports on mobile wallet market in India
Paytm is the most popular mobile payment app among Android smartphone owners in urban India, research from Nielsen reveals, with 39% of users with an internet connection making use of the service for an average duration of 70 minutes a month. More
Paytm trials sound-based payments
Indian mobile payment platform Paytm is trialling a Sound Pay feature that will enable users of its mobile app to make in-store payments via ultrasonic sound waves which transmit data — including payment amount and customer credentials — to the point of sale... More
Alipay parent seeks $1.5bn investment
Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports... More
India’s Paytm moves into banking
Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year... More
Alibaba and Ant Financial make “strategic investment” in India’s Paytm
Chinese e-commerce giant Alibaba and its affiliate Ant Financial are to make a “strategic investment” believed to be worth some US$680m in Indian mobile payment platform Paytm through an agreement with its parent company One97 Communications... More
Uber ‘to launch mobile wallet in India’
Taxi service Uber is to introduce its own mobile payment wallet in India, Times of India reports... More
InMobi unveils Miip payment platform
Indian advertising platform InMobi has unveiled Miip, a platform that can be integrated into mobile apps to allow users to make payments through buy buttons on product ads... More
Reserve Bank of India asked to increase mobile wallet limit
One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157)... More
Alibaba to buy Paytm?
Alibaba is in advanced talks to buy an approximately US$500 million stake in One97 Communications, the parent company of Indian mobile payment platform Paytm... More