One 97 Communications stock gains 3% as Paytm unveils UPI International

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

Shares of fintech giant One 97 Communications, owner of digital payment platform Paytm, jumped 3.02 per cent to the day's high of Rs 839.30 on the BSE during intra-day deals on Thursday.

 

The northward move in the stock price is fueled by the news that the company has launched UPI International, allowing Indian travelers to make Unified Payments Interface (UPI) transactions in the 6 foreign countries. The new feature allows users to make cashless payments using the Paytm app in the Singapore, France, UAE, Mauritius, Bhutan, and Nepal.

 

“As pioneers in mobile payments, we are thrilled to extend UPI International to Indian travellers. With this launch, we aim to enhance the convenience of foreign travel, empowering users to make secure, cashless payments across countries like the UAE, France, Singapore, and more. The upcoming holiday season will see this feature as a game-changer for travel enthusiasts,” a Paytm spokesperson said.

 

 

One 97 Communications is a Financial Technology (Fintech) company operating as a digital ecosystem for consumers and merchants. The company offers a digital payments platform for use cases such as money transfers, online and in-store merchant payments, and bill payments. It offers commerce and cloud services such as ticketing and advertising, technology-led financial services such as loans, insurance, and wealth management offered through financial partners.

 

As of November 21, 2024, Paytm enjoys a market capitalisation of Rs 53,258.35 crore on the National Stock Exchange (NSE). The company is a constituent of the Nifty Midcap 100 index.

 

Paytm shares have offered a whopping 137 per cent return in the last month, while for the year-to-date, their return stands at 29.32 per cent.

 

At around 02:37 PM, Paytm shares were quoted trading at Rs 835.90, up 2.66 per cent from their previous close of Rs 814.25. A combined total of nearly 10.95 million shares, worth around Rs 904.67 crore, exchanged hands on the BSE and NSE.

 

In contrast, the benchmarks BSE Sensex was at 77,090.78, down 487.60 points or 0.63 per cent, and NSE Nifty50 was at around 23,330.65, down 187.85 points or 0.8 per cent