Spice Money: Industry Monitoring 31 May 2019
- Priyanka Kanodia
- Jun 10, 2019
- 3 min read
Spice Money
Competitors
Industry News
Paytm logs 400 million transactions a month
Publication- The Economic Times
Edition- Online
Date- 31 May, 2019
The digital payments and payments gateway business are picking up steam. Paytm, the largest digital payments company in India, said it was processing more than 400 million transactions every month. Paytmalso claimed it was five times bigger than its closest competitor. It has seen threefold growth in the number of transactions over the last one year, Paytm told ET. The payments firm, backed by Soft-Bank and Alibaba, is pushing hard on the payments processing business as well, which is not much of a consumer-facing sector but works closely with ecommerce companies to help them accept payments remotely.
“We continue to witness impressive growth in transactions through the Paytm Payment Gateway across fast-growing categories such as transportation, food delivery, gaming as well as travel and telecom,” said a company spokesperson. The company is also working towards deep platform integrations, mainly focusing on easy integration, from its earlier instant plugand-play offerings. The company also claimed high success rates for transactions, especially for RuPay cards and the Unified Payments Interface (UPI). Paytm competes with the likes of PayU and Razorpay in the payment gateway business. PayU is one of the largest payment processors in the country. Razorpay has also grown fast to challenge the incumbents in this space.
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Paytm payment gateway logs 400M transactions a month
Publication- The Tech
Edition- Online
Date- 31 May, 2019
Paytm’s payment gateway processed more than 400 million transactions every month clocking a three-fold growth over the last one year, the company said. The payments firm, backed by SoftBank and Alibaba, is aggressively pushing its payments processing business, which works closely with e-commerce companies to help them accept payments. Paytm is one of the most used gateways for players like Zomato, IRCTC for railway ticket booking, Grofers, PVR, Club Factory among others. “We continue to witness impressive growth in transactions through the Paytm Payment Gateway across fast growing categories such as transportation, food delivery, gaming as well as travel and telecom,” said a company spokesperson.
The company is also working towards platform integration through its instant plug-and-play offerings. Paytm claimed high success rates for transactions, especially for RuPay cards and the Unified Payments Interface. It has more than 150 million saved cards on its system. Paytm competes with the likes of Naspers-owned PayU and Razorpay in the payment gateway business. PayU, is one of the largest payment processors in the country. The Y Combinator-incubated Razorpay has also been growing to challenge the incumbents in this space. Razorpay said it was adding fresh merchants at the rate of almost 20% per month and was seeing a 15% growth in gross payments through its platform, without divulging specific numbers.
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Blockchain: A game changer for collateral management
Publication- Money Control
Edition- Online
Date- 31 May, 2019
Blockchain continues to create a lot of buzz within financial services (FS), for its ability to provide robust and secure solutions that minimize risk exposures. With the emergence of several blockchain infrastructure providers, the perceived potential for the application of distributed ledger technology (DLT) has been soaring. Collateral management is one such domain where trials for the application of blockchain have displayed promising results.
In global financial markets, an approximate value of a total value of US$12.2 trillion in securities (excluding cash) is currently being used as collateral for various purposes, including over-the-counter (OTC) derivative margins, secured funding, trading and settlement. With the potential to increase efficiency, improve regulatory control and eliminate unnecessary intermediaries, blockchain can introduce a fundamentally different approach to data management and validation in the domain of collateral management.
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