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Posts Tagged ‘ One97 Communications Ltd. ’

Why Paytm levied 2% fee on top-up via credit card, and MobiKwik seized the moment

Thursday, March 9, 2017 | More »

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India’s mobile wallet companies have a knack for being in the news. Just a day after Vijay Shekhar Sharma-led market leader Paytm said it will levy 2% fee for adding money to the wallet using credit cards, arch-rival MobiKwik has announced that it will continue to offer “free” uplo...

Alibaba

Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

Paytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt. Ltd, a wholly-owned subsidiary of Chinese internet giant Alibaba Group Holding Ltd, a financial daily reported on Th...

2 March, 2017 | More »

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Paytm bets $89 mn on QR code payment system

Digital wallet firm Paytm, operated by One97 Communications Ltd, plans to invest Rs 600 crore ($89 million) to develop a QR code-based payments solution, several media reports stated. The company, which plans to train 10 million merchants to accept digital payments across 650 districts by the end of...

20 February, 2017 | More »

Sell_think_fe

Reliance Capital looking to sell its 1% stake in Paytm for $50-60 mn

Anil Ambani-controlled Reliance Capital Ltd is reportedly in talks to sell its 1% stake in digital payments firm Paytm as it looks to trim its proprietary investment portfolio and monetise non-core assets. Press Trust of India reported, citing some people in the know of things, that the company was ...

18 February, 2017 | More »

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Why a potential Snapdeal-Paytm merger makes perfect sense

Will they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring ...

18 February, 2017 | More »

Alibaba

Paytm investor Alibaba’s Ant Financial to buy US firm MoneyGram for $880 mn

In step with its international ambitions, Ant Financial Services Group, the payment business arm of Chinese e-commerce giant Alibaba Group, has agreed to buy US money-transfer company MoneyGram for $880 million. Alibaba and Ant Financial hold a significant stake in One97 Communications Ltd, the pare...

27 January, 2017 | More »

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Hero Group’s Sunil Munjal eyes stake in Paytm at $5.7 bn valuation

Hero Corporate Services chairman Sunil Munjal and Adventz Group chairman Saroj Poddar are reportedly looking to buy a stake in digital wallet and e-commerce firm Paytm. Munjal and Poddar are together negotiating to buy Paytm shares from early investor and former IDFC Securities analyst Nikhil Vora, ...

3 January, 2017 | More »

Vijay Shekhar Sharma, Founder, Paytm

Flashback 2016: Paytm gets note ban boost but payments bank hits a bump

If there is one man who is wholeheartedly welcoming Prime Minister Narendra Modi’s decision to scrap Rs 500 and Rs 1,000 banknotes, it’s Vijay Shekhar Sharma. The Paytm founder and CEO has turned out to be one of the biggest beneficiaries of the move as the cash crunch prompted people to increas...

26 December, 2016 | More »

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Paytm hits PayPal hurdle in trademark row

Mobile wallet and e-commerce firm One97 Communications Ltd’s bid to seek a trademark for Paytm has hit a hurdle with global online payments company PayPal Inc. challenging the Indian company’s move. PayPal has filed a notice with the Indian trademark office in which it opposed Paytm’s applicat...

15 December, 2016 | More »

Vijay Shekhar Sharma, Founder, Paytm

Vijay Shekhar Sharma sells 1% in One97 to raise $48.1 mn for payments bank

Paytm’s founder and chief executive Vijay Shekhar Sharma has sold 1% of his holding in the digital wallet’s parent firm One97 Communications Ltd, to raise nearly $48.1 million (Rs 325 crore). With the latest transaction, One97’s valuation reportedly stands at $4.8 billion (Rs 32,438.4 cror...

9 December, 2016 | More »

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