The last year has been challenging for Paytm, with fintech rivals expanding rapidly and its Paytm Mall e-commerce platform scaling down operations. In an exclusive interview with ET, founder and CEO Vijay Shekhar Sharma says Paytm is eyeing multiple ways to expand products and start making money off users including tapping gaming, content, commerce and wealth management to shore up revenue and retain customers. Excerpts. Have you started positioning Paytm as one beyond just a payments company?Yes, Paytm is creating an ecosystem with lifestyle and financial services. We are creating content like gaming and video; commerce includes ticketing, travel, online to offline; and advertising includes deals, banners and video ads. From user transaction data, we have created fintech services such as banking, loans and wealth management. The foundation of Paytm remains the same. There are consumers who pay to merchants online and offline, and payments is our moat and differentiator. With … [Read more...] about Zero merchant fee is a force multiplier for digital payments: Paytm’s Vijay Shekhar Sharma
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Apple Inc.’s digital wallet is expanding in Europe just as regulators crack down on the tech giant’s move into financial services.At issue is Apple’s role as a platform for other services. Spotify Technology SA already complained to antitrust regulators that Apple favours its own music service. Now banks and other payments providers say the company gives its Apple Pay service an unfair advantage by limiting access to a key component inside iPhones.“Access to technical interfaces is now a key competitive factor for payment systems,” Kerstin Altendorf, a spokeswoman for the Association of German Banks, said. “The same conditions should apply to all market participants.”The arguments levelled at Apple come as lawmakers and regulators look to curb the power of Silicon Valley technology platforms, including Google and Facebook Inc.European Union antitrust chief Margrethe Vestager has begun scrutinizing Apple Pay, and … [Read more...] about Apple keeps payments tech for itself but this could soon change in Europe
BENGALURU: Indian digital payments startup Paytm's parent has raised nearly $660 million from investors including Alibaba's Alipay, SoftBank's SVF Panther (Cayman) and funds managed by T Rowe Price among others, according to a filing. The board of One 97 Communications Ltd will allot about 2.6 million shares to the investors, financial data accessed by business intelligence platform Tofler dated December 12 showed. This is SoftBank-backed Paytm's second fundraise after the Japanese tech investment giant and other backers such as Ant Financial and T Rowe Price Associates pumped in $1 billion last month, valuing the company at $16 billion. Paytm did not immediately respond to a request for a comment on the latest funding. … [Read more...] about SoftBank-backed Paytm raises $660 million
From artificial intelligence, digital India to ecommerce versus the traditional brick-and-mortar, gen-next leaders recently discussed what will be the idea of India over the next few years. Rohan Murty Founder, Murty Classical Library of India On artificial intelligence Machines replacing humans is a faraway thought, says Rohan Murty.(Image: BCCL) “Think about how much life has changed in the past 100 years. From being an entirely human-driven effort, we are now doing extraordinary things with machines, with AI, with automation. The largest telescope in California is automated and run by an AI system. There is a piece of art that was auctioned, which was entirely computer generated. For a long time, humans felt that creativity was in the realm of our hands, but it looks like machines are beginning to encroach on some of these territories. But I also have a slightly different view. The battle is not all lost for mankind. We hear about self-drive cars and trucks and how … [Read more...] about From Rohan Murty to Ananya Birla, what does new-gen India Inc think of the future of business?
This is the time to go for defensive sectors, largecaps and quality, It is best to avoid momentum, Nilesh Shah, MD, Kotak AMC, tells ET Now. Shah says only the consumption theme will get supported over next 12 months.Edited excerpts: What is the big rise with India theme that you are studying this summer? There are global macro headwinds including the rising cost of capital with rates going up. Back home, we have started talking elections even though that is not a pet theme right now. There is oil, currency weakness as well rates going up. How is all that shaping your market philosophy? When times are tough, the tough get going. In 2017 calendar year, India had relatively good macros and weaker micros. In 2018, we have given up some gains on the micro side. Oil prices have risen. Global interest rates are rising. Domestic interest rates are rising. Inflation is rising. Liquidity is tight. There is uncertainty about political situation post 2019. Against the deteriorating micros, we … [Read more...] about In range-bound market, only one theme to work for next 1 year: Nilesh Shah, Kotak AMC