About Paytm Payments Bank
Paytm Payments Bank, the payments bank business of Paytm, is building a new business model in the banking industry, focused on bringing financial services to hundreds of millions of unserved or underserved Indians.
Research containing Paytm Payments Bank
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Paytm Payments Bank in 1 CB Insights research brief, most recently on Mar 8, 2022.
Expert Collections containing Paytm Payments Bank
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Paytm Payments Bank is included in 3 Expert Collections, including Digital Banking.
Companies and startups in this collection provide banking services to consumers and businesses, as well as enhance, automate, and/or digitize operations for banks and financial institutions.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Excludes US-based companies
Latest Paytm Payments Bank News
Sep 12, 2023
Paytm Payments Bank hopes to get out of an RBI-imposed embargo this fiscal. 12 Sep 2023, 1:54 PM IST 12 Sep 2023, 1:54 PM IST WhatsApp Paytm pavilion at the Global Fintech Fest. (Source: Vijay Sartape/ BQ Prime) There is no definite timeline on as to when the Paytm Payments Bank will resume its operations, said the chief operating officer of the fintech giant was barred from onboarding new merchants in 2022.However, Bhavesh Gupta, Paytm president and COO, is hopeful that the embargo will be lifted by March 2024.In December 2020, One97 Communications Ltd., which owns the Paytm brand, had proposed to transfer the payment aggregator services bu... There is no definite timeline on as to when the Paytm Payments Bank will resume its operations, said the chief operating officer of the fintech giant was barred from onboarding new merchants in 2022. However, Bhavesh Gupta, Paytm president and COO, is hopeful that the embargo will be lifted by March 2024. In December 2020, One97 Communications Ltd., which owns the Paytm brand, had proposed to transfer the payment aggregator services business undertaken by it to Paytm in order to comply with the RBI's payment aggregator guidelines. However, the central bank rejected its application. Two years later in November 2022, the RBI directed Paytm to re-submit its application to operate as a payment aggregator. The banking regulator then put a pause on onboarding online merchants by Paytm until approvals are pending. The reason for the ban could be violations related to know your customer, data storage, data privacy and outsourcing of data, among others. Gupta, at the company's annual general meeting on Tuesday, said the company is working on these issues and is inching towards resolution. It has been nearly a year since the company has not onboarded any new online merchants. "On Oct. 21, 2022 the bank received the final report thereof from RBI outlining the need for continued strengthening of IT outsourcing processes and operational risk management, including KYC/AML at the Bank," Paytm said in a report. On the profitability front, the Group CFO Madhur Deora indicated that the fintech firm is about to turn into positive cash flow "soon". In the quarter ended June, Paytm's consolidated net loss narrowed to Rs 357 crore, compared with Rs 644 crore a year earlier. However, the loss has widened from Rs 168 crore reported in March quarter. "Paytm has about Rs 1,300 crore cash balance," Deora said, adding that the company does not need additional funds for its operations. It is 100% debt free, he said. Since its inception in 2009, Paytm has raised a total funding of Rs 38,504 crore from 76 institutional investors, including marquee names like Alibaba Group, SoftBank Vision Fund, BlackRock and more.
Paytm Payments Bank Frequently Asked Questions (FAQ)
Where is Paytm Payments Bank's headquarters?
Paytm Payments Bank's headquarters is located at A-80, Udhyog Marg, Noida.
What is Paytm Payments Bank's latest funding round?
Paytm Payments Bank's latest funding round is Unattributed - III.
How much did Paytm Payments Bank raise?
Paytm Payments Bank raised a total of $60.6M.
Who are the investors of Paytm Payments Bank?
Investors of Paytm Payments Bank include Vijay Shekhar Sharma and One97 Communications.
Who are Paytm Payments Bank's competitors?
Competitors of Paytm Payments Bank include Circle, BitGo, Ledger, Toss, Zoona and 14 more.
Compare Paytm Payments Bank to Competitors
Lianlian Pay, operated by Lianlian Group, is a mobile and micropayment service provider. The company operates a network of agents in China where consumers can convert cash into mobile-phone minutes. It allows customers to purchase airline tickets, video gaming credits, and utility bills with its network. It was founded in 2003 and is based in Hangzhou, China.
Airwallex offers a payment platform for modern businesses. It allows customers to issue and pay international invoices and bills and offers domestic and international business accounts, company cards, and expense management through its integrated platform. The company was founded in 2015 and is based in Melbourne, Australia.
Coins.ph provides a blockchain-based platform. It offers consumers access to basic financial services, such as remittances, bill payments, and mobile airtime. It was founded in 2014 and is based in Pasig City, Philippines. In April 2022, Coins.ph was acquired by Wei Zhou.
Ant Group (SGX: 5VJ) offers financial services, serving small and micro enterprises and consumers. Its products include a payment and lifestyle platform, a comprehensive wealth management application, and an independent, private, and alternative credit service. The company was formerly known as Zhejiang Ant Small and Micro Financial Services. It was founded in 2014 and is based in Hangzhou, China.
Ledger is a global platform for digital assets and Web3. It offers various products such as integrated tools and live applications to enable consumers to securely buy, store, swap, grow, and manage cryptocurrencies. The company was founded in 2014 and is based in Paris, France.
MoMo develops an online mobile payment application. It allows users to make payments and transfer money digitally. It was founded in 2007 and is based in Ho Chi Minh City, Vietnam.