Hotline: 1800 102 2007
X
Search Business Opportunities
May, 15 2018

Paytm to invest Rs 5,000 cr towards growing online transactions

Besides, customers can now also use the feature to make recurring, high value payment and other monthly expenses in an easy manner, Paytm said in a statement.

The Alibaba and SoftBank-backed digital payments major Paytm has planned to invest Rs 5,000 crore over the next three years as it looks to enhance bank transfer and other payments facilities for customers through its platform.

The mobile payment platform said it has unified 'bank transfers' under a new 'My Payments' feature on its app that will allow users to transfer money from one bank account to another by using UPI and IMPS methods.

Besides, customers can now also use the feature to make recurring, high value payment and other monthly expenses in an easy manner, Paytm said in a statement.

Paytm in a statement said, "Paytm is aiming to process Rs 60,000 crore in monthly bank transfers alone by the end of this year... The company is also planning to invest Rs 5,000 crore in its core business, expecting to increase the number of transactions from 1 billion to 2 billion this year.”

It added that the company has been educating customers to link their bank accounts and using bank transfers to pay for recurring use cases like house rent, business payments, fee, salaries and peer-to-peer payments.

Comment
image
Related opportunities
  • Fashion Accessories
    About Us: Franchise Partners Invited for KOREA’S DESIGNER LIFESTYLE BRAND  Beccos, a..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Mahindra First Choice Wheels Ltd (MFCWL) is a part..
    Locations looking for expansion Maharashtra
    Establishment year 1999
    Franchising Launch Date 2003
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai City Maharashtra
  • Automobile maintanance related
    About Us: Since 1968, Koch-Chemie has stood for high-quality cleaning and..
    Locations looking for expansion Maharashtra
    Establishment year 2008
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Pizza is about the Pleasures of Life, Storytelling, Traditions,..
    Locations looking for expansion Delhi
    Establishment year 2000
    Franchising Launch Date 2007
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities