Tag: Paytm

Categories
Startup

Hottest Startups of 2020: Paytm, Dream11, Zomato, Ola, Swiggy Among Top 10 Startups of 2020, Says Report

Startup
Startup (Photo Credits: Pixabay)

Mumbai, December 10: As per the Hottest Startups of 2020 Report, Paytm, Dream11, Zomato, Ola, Swiggy, Big Basket, Oyo, Byjus, Snapdeal, and Unacademy are the top 10 hottest startups of 2020. It needs to be mentioned here that all the ten startups hold the title of unicorns.

Paytm topped the list in terms of creating the most consistent buzz throughout the year while Dream11 bagged the title for the prominence of its brand.

The Hottest Startups of 2020 Report by Wizikey, celebrates the top 100 most influential startups in India emerging sectors like Fintech, E-commerce, SaaS, Logistics & Edtech, that have successfully redefined the ecosystem in 2020.

2020 also emerged as the year of Fintech due to the strong wave of cashless transactions like UPI and wallet payments that were witnessed in both metro and non-metro cities.

Some of the new players that have found a place in the list of hottest startups are- CRED and Khatabook. Big Basket found itself leading the sectoral list but ranking overall at number 6, way above Grofers which is ranked at 15.

 

Categories
MSME Technology

Paytm to Double Loan Disbursement for MSMEs From Rs 550 Crore in Last Fiscal Year to Rs 1,000 Crore by March 2021

Paytm (Photo Credits: Facebook)

New Delhi, November 9: In a major boost to the micro- and small and medium enterprises (MSMEs), financial services platform Paytm on Monday announced to double its loan disbursements for the MSMEs from Rs 550 crore in last fiscal year to Rs 1,000 crore by March 2021. The firm said that it has company expanded collateral-free loans of up to Rs 5,00,000 at a low-interest rate and unique daily EMI product customised for micro-merchants.

Paytm continues to lead the offline payments (P2M) segment with over 50 percent market share by offering all digital payment methods. Bhavesh Gupta, CEO, Paytm Lending was quoted by IANS saying that with the firm’s collateral-free instant loans, it is trying to help kirana stores and other small business owners who have been left behind by the traditional banking sector and do not have easy access to loans and credit.

According to a report by IANS, the company informed that the recently launched Paytm All-in-One Android POS device has enabled over two lakh MSMEs to accept all payment modes. The company said it will continue to offer collateral-free loans under the ‘Merchant Lending Programme’ in Paytm for Business app. The firm said it has digitised the entire process starting from the loan application, approval to disbursal with no additional documents required in partnership with NBFCs and banks.

Rrports inform that in the last financial year, the company processed loans worth Rs 550 crore, benefiting over a lakh merchant partner. “Going forward, we will especially focus on EDC merchants and provide higher loan amounts based on their EDC transactions,” Gupta said.

Categories
Finance

Paytm Launches Same-Day Bank Settlement For Businesses That Depend on Immediate Availability of Funds; Here Are Details

Paytm (Photo Credits: Paytm website)

Bangalore, October 13: Paytm has started same-day settlement facility for all kinds of fund transfers on its payment gateway, the company said in a press note today. This settlement feature will help businesses that depend upon immediate availability of funds for their business. It includes e-commerce companies, government institutions, and all businesses involving inventories.

The feature can be accessed from Paytm Merchant Dashboard or Paytm for Business app. The minimum amount that can be transferred is Rs 50, and the maximum amount is Rs 2 lakhs in a single transfer request. The merchants will be able to define the frequencies and the funds will get transferred automatically. Frequencies can be once a day, twice a day or even three times a day.

As a norm digital payments made to a merchant is usually not settled on the same day. According to industry standard, the settlement happens after one day or two days, depending on the specific day of the week. However, payment startups have been innovating on same day settlements to encourage small merchants who need cash in their bank account daily to start accepting digital payments.