New Delhi: Alibaba and SoftBank-backed Paytm on Friday said it witnessed 600 per cent growth in the Unified Payments Interface (UPI) transactions in the last six months. One97 Communications Limited, that owns the brand Paytm in India, said the platform registered over 179 million UPI transactions in October. “It is[Read More…]
Tag: SoftBank
Paytm launches payment bank with 4% interest on deposits
Digital payments firm Paytm on Tuesday launched its payment bank with 4 % interest rate and cashback on deposits, zero fee on online transactions and no minimum balance requirement, as they seek to attain a target of 500 million people by 2020. The firm is backed by Chinese firm Alibaba[Read More…]
Paytm signs deal to acquire FreeCharge
Paytm is ready to buy rival digital payment platform FreeCharge as it has signed a non-exclusive term sheet to acquire it. It is set to buy this Snapdeal-owned company, in what is expected to be an all-cash deal. According to people who are closely associated with the developments, Paytm will[Read More…]
SoftBank President Nikesh Arora quits
President and chief operating officer of Japan’s SoftBank Corp. Nikesh Arora, will step down from the telecom giant effective June 22, the company said on Tuesday. Arora was the third-highest-paid executive in the world last year, according to Bloomberg. He earned about 16.6 billion yen ($135 million) between joining the[Read More…]