Paytm Payments Bank company logo

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paytmbank.com

Stage

Unattributed - III | Alive

Total Raised

$60.6M

Last Raised

$18.9M | 5 yrs ago

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.

Paytm Payments Bank Headquarter Location

A-80, Udhyog Marg Sector 2

Noida, 201301,

India

0120 4366761

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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 Banking.

B

Banking

729 items

F

Fintech 250

748 items

F

Fintech

3,403 items

Latest Paytm Payments Bank News

Paytm Payments Bank Expects Central Bank Curbs To Be Lifted In Three-five Months

May 22, 2022

By Nupur Anand 05/22/22 AT 8:14 AM Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. Photo: Reuters / DADO RUVIC India's Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters. In March, the Reserve Bank of India ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers. The bank is working with the RBI to complete the IT audit and address the regulator's concerns. "The process is underway and we think it should take three to five months from where we are right now," Madhur Deora, group chief financial officer, Paytm, told Reuters on Sunday. The central bank did not immediately respond to an email seeking comments. Paytm in March denied a Bloomberg news report that said RBI had found its servers were sharing information with China-based entities that indirectly own a stake in the firm. Paytm is backed by China's Alibaba Group Holding and its affiliate Ant Group. One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher payment processing, marketing and employee costs. Deora said the company was on track to achieve profitability by September 2023. "We are seeing good growth in high margin businesses and as a result we are seeing improvements in contribution margin." "Our indirect expenses will not grow as fast as last year as we don't expect to make any significant investments in new businesses or employee cost this year as we have already made those in the last year," he added. Paytm made its stock market debut in November last year in one of the country's biggest-ever initial public offerings, but the shares have since sunk 70%. © Copyright Thomson Reuters 2022. All rights reserved. Join the Discussion

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  • 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 Paga, Coins.ph, Circle, Ripple, MobiKwik and 14 more.

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