Paytm’s regulatory troubles appear to have pushed Indian consumers to Walmart and Google-owned payments operations. Data released Wednesday (March 5) by the National Payments Council of India (NPCI) showed that the value of Paytm payments made using the country’s Unified Payments Interface (UPI) system fell 14% between January and February. Meanwhile, PhonePe, owned by Walmart and Google’s GPay, saw a respective 7% and 6% …
The Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI) to consider One97 Communications’ request to become a Third-Party Application Provider (TPAP) for the Unified Payments Interface (UPI) channel. The move is meant to enable continued operation of the Paytm app after RBI placed business restrictions on Paytm Payments Bank, RBI …
One97 Communications, a pioneering fintech firm operating under the Paytm brand, is poised to achieve positive free cash flow by the conclusion of this year, according to a high-ranking executive. During an earnings call, Paytm founder and CEO Vijay Shekhar Sharma attributed the company’s growth in the June 2023 quarter to its expansion in payments, …