One 97 Communications

Paytm currently has a cash balance of over Rs 10,000 crore. The Rs 2,364 crore sale would expand it by over 20 per cent

Paytm's parent, One97 Communications, is set to sell its $250 million stake in PayPay to SoftBank as part of its strategy to divest non-core assets and focus on expanding its payments business

UBS highlighted that further business growth must now be driven by revenue, as most cost optimisation efforts have already been realised

The northward move in the stock price is fueled by the news that the company has launched UPI International, allowing Indian travelers to make UPI transactions in 6 foreign countries

The surge in Paytm share price came after the company announced that National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users

Paytm Q2 results: The company's net profit was boosted by a one-time gain of Rs 1,345 crore from the sale of its movie ticketing business to Zomato

Fintech firm One97 Communications -- the owner of Paytm brand -- has received the government's approval for downstream investment in wholly owned subsidiary Paytm Payments Services Ltd, a regulatory filing said on Wednesday. The company will reapply for a payment aggregator (PA) licence, it said. "We would like to inform you that PPSL has received approval from the Government of India, Ministry of Finance, Department of Financial Services, vide its letter dated August 27, 2024, for downstream investment from the Company into PPSL. With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners," Paytm filing said. The Reserve Bank of India (RBI) had rejected Paytm's PA licence permit application in November 2022 and instructed the company to reapply with Press Note 3 compliance under foreign direct investment norms. As per Press Note 3, the government had made its

Paytm NFC card soundbox will allow small shops to accept a range of payments, including credit and debit cards as well as UPI

The stock price surged on the back of reports claiming that the company had received the government nod to invest Rs 50 crore in its associate entity Paytm Payments Services Limited (PPSL)

The uptick in the share price came after reports indicated that the Government has approved Paytm's FDI proposal for payment aggregator business.

The discussions between Paytm, officially known as One97 Communications Ltd., and online food delivery firm Zomato are in advanced stages

Paytm accounted for 8.1% of total UPI transactions in May, down from 13% in January, according to data released by the National Payments Corporation of India

The decline followed the company's announcement of its Q4 results, which fell short of market expectations. Paytm's loss widened to Rs 549.6 crore in Q4FY24

Paytm Q4 FY 24 results: Shares of Paytm were trading at Rs 349 at 9:35 am on the BSE following the release of the company's quarter earnings report

UPI Lite processes low-value transactions that have been set at below Rs 500, according to the National Payments Corporation of India (NPCI) website

Stocks to watch on May 10, 2024: Paytm has denied media reports about its lending partners invoking loan guarantees due to repayment defaults

Gupta's resignation comes just as the firm is set to announce its annual and fourth quarterly results. Gupta resigned from his position at the company citing personal reasons

The company added that investor Ant Financial did not have any board representation or special rights

Chawla was appointed as managing director and CEO of Paytm Payments Bank in January 2023 after it received a nod from RBI

Paytm said the company is undergoing a routine appraisal process involving performance assessments which may lead to 'role adjustments'