🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Paytm sees no impact of lowering of UPI incentives on its path to profitability

Economic Times

Economic Times · 11m ago

Paytm sees no impact of lowering of UPI incentives on its path to profitability

Paytm, the fintech firm behind One 97 Communications, does not expect any impact from the lower incentives allocated by the government to promote small ticket digital transactions. The company's CEO, Vijay Shekhar Sharma, remains committed to achieving profitability this fiscal year despite the reduced incentives. Paytm recently launched a Card NFC Soundbox machine that combines card-based payments with QR code payments, catering to a niche segment. The company reported a widening loss in the previous quarter, but Sharma expressed optimism about achieving profitability in the near future. Paytm also plans to introduce dynamic QR code technology for different payments.

1

Related News

Paytm Bank's exit from UPI unlikely to be disruptive

Economic Times

Economic Times · 1y ago

Paytm Bank's exit from UPI unlikely to be disruptive

Paytm Payments Bank's exit from the UPI platform may not have as disruptive an impact as feared, as most users have multiple backend accounts outside of Paytm. Only a small portion of Paytm UPI users rely solely on the app for transactions. A significant percentage of merchants also have accounts outside of Paytm. Macquarie Capital Securities predicts a decline in Paytm revenues, but the actual presence of Paytm Payments Bank may not be as high as projected. The success of UPI and competition from other apps provide users with alternative options.

Flipkart-backed Super.money climbs UPI rankings in Feb as leaders see volumes dip

YourStory

YourStory · 3m ago

Flipkart-backed Super.money climbs UPI rankings in Feb as leaders see volumes dip

Super.money has climbed to the fifth-largest position among UPI platforms, surpassing Cred and Axis Bank Apps by processing 139.1 million transactions in February. Despite PhonePe and Google Pay retaining top spots, overall UPI transactions saw a decline. Paytm remained third with a smaller transaction drop. The Indian government reduced the budget for promoting RuPay and BHIM-UPI incentives, which are crucial for facilitating low-value transactions amidst the absence of Merchant Discount Rate fees.

Paytm, Axis Bank To Submit TPAP Application With NPCI For UPI Biz

Inc42 · 1y ago

Paytm, Axis Bank To Submit TPAP Application With NPCI For UPI Biz

Paytm is seeking bank partnerships to support its UPI business as part of its response to RBI's restrictions on Paytm Payments Bank. They are set to jointly apply with Axis Bank to be a third-party application provider with NPCI for UPI on the mobile platform. Other banks like Yes Bank, HDFC Bank, ICICI Bank, and Canara Bank are also being considered. Paytm currently has around 90 million UPI users on its platform.

Loot On Streets As Fintechs & Banks Battle For Paytm’s Merchant Base

Inc42 · 1y ago

Loot On Streets As Fintechs & Banks Battle For Paytm’s Merchant Base

Amid the crisis facing Paytm, banks and fintech companies are aggressively targeting Paytm merchants, trying to convince them to switch to their platforms. Paytm is working hard to retain its 37 million-strong merchant base by assuring them that they can continue using soundboxes for payments even after the February 29 deadline set by the RBI. Paytm's strength lies in its vast QR code network, but the recent restrictions imposed by the RBI threaten its path to profitability. The release of frequently asked questions (FAQs) by the central bank is eagerly awaited to clarify the transition process for end-users.

Paytm has a way out of the payments bank mess, but it's a treacherous path

Startup News FYI

Startup News FYI · 1y ago

Paytm has a way out of the payments bank mess, but it's a treacherous path

During an investor call, Paytm's leadership failed to address concerns over the recent action taken by the RBI against Paytm Payments Bank (PPBL). Paytm's CEO, Vijay Shekhar Sharma, stated that the payments bank has not shared details with Paytm about the RBI's opinion based on audits conducted over the past two years. Paytm's stock price has fallen by almost 36% in just two sessions, raising concerns about its path to profitability. Paytm is now focused on assuaging investor fears and has outlined steps it plans to take before the RBI-imposed deadline of February 29. However, Paytm is facing several challenges, including negotiations with other banks, migration of loan repayments, and the potential loss of user retention. The company's future remains uncertain.

Mukesh Ambani's Jio Soundbox is all set to give tough competition to Sharma's Paytm

IndianStartupNews

IndianStartupNews · 1y ago

Mukesh Ambani's Jio Soundbox is all set to give tough competition to Sharma's Paytm

Mukesh Ambani's Jio is entering the UPI payment market with the introduction of Jio Soundbox. It will compete against Paytm, Google Pay, and PhonePe. The Jio Soundbox utilizes existing Jio Pay app and is currently in its trial phase. This move comes at a time when competitors such as Paytm are facing setbacks. Jio plans to offer incentives to shop owners to promote the adoption of Jio Soundbox. This initiative is part of Jio's strategy to diversify and dominate the digital payment ecosystem in India.

NPCI pushing new UPI players to offer incentives to expand market share

Economic Times

Economic Times · 1y ago

NPCI pushing new UPI players to offer incentives to expand market share

The National Payments Corporation of India (NPCI) is urging new third-party payment apps on Unified Payments Interface (UPI) to invest and offer incentives to users. This move is aimed at reducing the concentration of transactions on platforms like PhonePe and Google Pay, which currently hold around 85% market share. The NPCI is in constant communication with the leaders of these new UPI players, discussing the offers they are running. However, small incentives may not be enough to significantly shift market share. The deadline for implementing a 30% cap on UPI transactions is the end of this year, and new UPI apps are seeking clarity on its extension.

RBI moves to ensure continuity of UPI payments on Paytm

VCCircle

VCCircle · 1y ago

RBI moves to ensure continuity of UPI payments on Paytm

The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to consider Paytm's request to become a third-party application provider (TPAP) for the country's Unified Payments Interface (UPI). If approved, Paytm would require a group of banks to support its app for processing UPI payments. The RBI stated that the NPCI should bring in four to five banks capable of processing high volumes of UPI payments to serve as service providers for Paytm. The move by RBI aims to ensure the continuity of UPI payments on Paytm.

Paytm UPI payments drop further in March; PhonePe, Google Pay show gains

Economic Times

Economic Times · 1y ago

Paytm UPI payments drop further in March; PhonePe, Google Pay show gains

Paytm, a leading digital payments company, experienced a slight decline in Unified Payments Interface (UPI) transactions in March. While Paytm processed around 1.2 billion UPI transactions, down from 1.3 billion in February and 1.4 billion in January, its competitors PhonePe and Google Pay saw an increase in transaction volumes. Google Pay processed 5 billion transactions in March, while PhonePe processed 6.5 billion transactions. Paytm has been steadily losing market share on UPI and has shifted its UPI payments to four large banks. Overall, UPI payments rose to 13.4 billion in March. NPCI is closely monitoring the market share dynamics as there is a regulatory mandate to restrict any single payment application from exceeding 30% market share on UPI.

ONDC Slashes Network Partner Incentives By More Than 80% Ahead Of The Festive Season

Inc42 · 9m ago

ONDC Slashes Network Partner Incentives By More Than 80% Ahead Of The Festive Season

The state-backed network has reduced incentives for its participants by 84%, lowering the maximum limit from INR 2.5 Cr to INR 40 Lakh. The cumulative subsidy given to the buyer side app, seller side app, and logistics platform has also been capped at INR 40. Participants with over 3 Lakh orders in the previous month are no longer eligible for incentives.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Flexport CEO calls out India’s ‘u ...

Jack Dorsey working on Bluetooth ...

ChatGPT is testing a mysterious n ...

Download the medial app to read full posts, comements and news.