Paytm Payments Bank turns profitable in second year of operation

Paytm Payments Bank Limited (PPB)  has posted profit to the tune of Rs 19 crore within second year of its operation in fiscal 2019. The bank had reported  loss of Rs 20.7 crore for the fiscal ended March, 2018,

PPB, which was incorporated in August 2016, formally began its operations in 2017.

Satish Kumar Gupta, MD and CEO of Paytm Payments Bank, said the bank performed “exceptionally well” in the last year. He claimed that PPB was the first payments bank in the country to announce profit, that too within two years of its operations.

As of April 2019, the bank has more than Rs 500 crore deposits in its savings account.

PPB claims to lead mobile banking transactions with over 19 per cent market share as of March 2019. Nearly a third of the total mobile banking transactions in India are powered by PPB and it processes over Rs 3 lakh crore worth of digital transactions on an annualised basis, the company said in a statement.

The majority of PPB earnings accrues from investing in government treasuries and FDs, besides commissions on facilitating payments across its saving bank accounts and its e-wallet holders. The e-wallet, which had a deposit of Rs 1700 crore, was able to generate 6-6.5 per cent interest for the company.

Gupta said that the deposits are expected to rise three-fold by the next financial year end.

Earlier, RBI data on payment banks revealed that Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018.

In December last year, Paytm witnessed over 240% rise in deposit to Rs 371.4 crore (48% of total deposit) from Rs 107.3 crore in March, added the report. In total, payments banks hold around Rs 780 crore in deposits, including savings and current accounts till the end of last year.

PPB now aims to introduce more products and features on its platform to increase the monthly processing of savings account payments from Rs 24,000 crore to Rs 40,000 crore in FY’20.

Paytm Founder Vijay Shekhar Sharma holds 51 per cent share in Paytm Payments Bank, while the rest is held by One97 Communications.

Besides Paytm, Airtel, Fino and India Posts are the other fully operational payment banks. There has been doubts about the earnings of the payment banks as they cannot generate revenues by lending. Besides the transaction size is always going to be small.

They are hoping to bring more people from the unbanked segment, which stands at 233 million, within their fold to achieve the scale.

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Source: https://entrackr.com/2019/05/paytm-payments-bank-turns-profitable/

Major ways that Block chain will change the world we live in

Everything has a digital identity

Character the executives lies at the center of blockchain’s capability to change the products and services we offer our clients, and how our clients interface with us. Ensured by blockchain’s impervious security, physical resources become advanced resources; documentation is digitized; individuals have secure computerized IDs; and information ends up accessible to all blockchain members. By joining these dabs and utilizing strategies like AI and computerization, governments and firms alike can quickly and responsively designate their administrations where they will be utilized generally productively.

An inclusive ecosystem

An amazing 19% of India’s populace is unbanked or monetarily rejected, as per an ASSOCHAM and EY contemplate – and this isn’t an issue one of a kind to India. At the core of the issue lies this current section’s absence of documentation – yet government-drove blockchain activities can settle this by furnishing residents with secures advanced IDs. From this, they’ll have the capacity to get to banking administrations, dispatch cash home, and attempt online exchanges. That is possibly another 1 billion individuals progressing web based, having been beforehand monetarily prohibited, and this must definitely be a standout amongst the most valuable parts of blockchain.

Urban communities smarten up

By connecting computerized IDs to taxpayer driven organizations, brilliant city activities bring blockchain into sharp core interest. This can possibly upgrade the manner in which those urban occupants get to open administrations and utilities, the manner in which that they travel through the city, and the plan itself of their living surroundings. By making a circulated record of IDs, resources and contracts, there’s very little in urban life that can’t be decidedly affected – everything from traffic to land to items on racks can possibly be effectively overseen by, for example, joining utilization information with variable evaluating to enhance the distribution of open and private assets. Envision, for example, having the capacity to call up a self-governing vehicle, and teach it to take the course that best weds your requirement for speed with your eagerness to pay for a quicker course. It can evade development; course itself around blockage, charge tolls straightforwardly back to you… And it’s most likely far and away superior at stopping than you are.

Fast, secure settlement

In spite of the fact that it’s an open record, blockchain’s encryption levels and conventions make it very secure. Working couple with this upgraded security, payment passages will almost certainly use AI to hail fake conduct over the system, protecting the two dealers and their clients. Also, blockchain will almost certainly significantly diminish the time it takes to send payments abroad – from days to seconds. This blend of speed and security stands to settle on blockchain the channel of decision for the exchange of significant worth, where promptness matters.

Buyers demand more

Blockchain is something of a riddle to the man in the city – and most other individuals other than. In any case, by being forced to bear the mechanical progressions that blockchain stands to bring, purchasers will probably search out and embrace innovative advancements themselves – they’re being habituated to great tech. What’s more, this has clear advantages for divisions, for example, online business: it helps trust in, and appropriation of, online trade and digital payments. City-or across the nation activities, for example, brilliant urban areas, utilizing advances, for example, blockchain, help change purchaser desires – and encourage a situation of development. On the vendor’s side, this implies they will progressively need to search out innovation partners that can join the dabs over the innovation biological system for them, and to furnish them with access to the advancements that their very own clients progressively request.

World is going faster day by day with the power of digital information & technology. The world is varying – more and more services are being made available online, from booking train tickets, making a doctor’s appointment and doing the weekly shop to further education, promoting your business and online banking.

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As E Wallet plays a mighty role in today’s business world, Roamsoft developed a digital wallet solution, RPay with mobile friendly features, well documented API s, plug-ins that suits all major Ecommerce platforms.

Google Pay is ahead of Paytm and PhonePe in UPI transaction value

Grabbing the lion’s share of UPI transaction has become imperative and priority for Paytm, PhonePe, Google Pay, BHIM and other UPI-enabled payments apps.

While government-promoted BHIM has not been able to take off, private players have grabbed the opportunity with freebies, discounts, and other luring features to gather more UPI transactions on their platform.

Early adopters like PhonePe and Paytm have been maintaining their mojo until tech giant’s Google UPI app – Google Pay silently started to eat up their market share with a new avatar (previously, it was known as Tez).

Up from 25 million monthly active users in September 2018 to 45 million monthly active users in March 2019, Google Pay is now neck to neck with Paytm and PhonePe’s volume with around 225 million UPI transaction.

In February, media reports suggested that PhonePe and Google Pay were doing around 220 million transactions each while Paytm was leading the pack with 225 million transactions.

Interestingly, Google Pay recorded UPI transactions worth Rs 43,000-Rs 45,000 crore in March. On the contrary, PhonePe and Paytm are said to have done transactions worth Rs 31,000-32,000 crore each.

An ET report also added that PhonePe is marginally ahead of Paytm in terms of the value of transactions.

This essentially means Google Pay is quite close to Paytm in terms of volume and way ahead of the Alibaba-backed company in terms of value.

Google in its official statement also said that it hit $81 billion (or Rs 5.7 lakh crore) annualised transaction run-rate in March.

In terms of average transaction value, Google Pay’s ATV is higher by 50 per cent compared to PhonePe and Paytm. According to recent data revealed by BharatPe, Google’s Pay ATV hovers around $4.6 while PhonePe and Paytm recorded their ATV as $2.6 and $2.4 respectively.

Till date, Google Pay is accepted at over 2,000 online merchants such as foodtech, travel, movie/event tickets, and even trading and investments. To gather more users, the tech giant is reportedly spending $12-15 million on a monthly basis.

Apart from P2P transfer and retail payments, Google Pay is also targeting its arch rivals through wealth management products like digital gold buying. It may enter into a full stack wealth management business and integrate other payments use cases to drive more transactions and build loyalty amongst customers.

Of late, Google has partnered with Pine Labs to boost its offline transaction where PhonePe is the market leader. The collaboration with Pine Labs will give access to over 3,30,000 point-of-sale terminals in over 3000 towns.

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Source : https://entrackr.com/2019/04/google-pay-upi-transaction-march/

Digital Wallet White Label – R Pay Digital Wallet Solution

Digital Wallet Script

Roamsoft is a software & mobile application development Company which provides a very good technological platform for start-up companies across the world.

Roamsoft introduces a digital wallet platform “RPay” with customer app, merchant app, end- to- end admin panel. With digital wallet solution Customers can load money into their account in a bounty of ways. Customers can also purchase movie tickets, pay bills, purchase goods offline provided the merchant has installed digital wallet. Digital wallet will be the secured online payment solution for requesting payments from customers digitally.

Power of Digital Information

World is going faster day by day with the power of digital information & technology. The world is varying – more and more services are being made available online, from booking train tickets, making a doctor’s appointment and doing the weekly shop to further education, promoting your business and online banking.

mobile-wallet-payments

As E Wallet plays a mighty role in today’s business world, Roamsoft developed a digital wallet solution with mobile friendly features, well documented API s, plug-ins that suits all major Ecommerce platforms.

This secured online payment solution brings to easy to use options that are designed to be accessible, convenient and simple backed by reputed partners to provide security and a credible and reliable customer experience. Users can get through a purchase in negligible seconds with an easy tap or scan of their gadget, minimizing the aggravation of long checkout queues.

Continue reading Digital Wallet White Label – R Pay Digital Wallet Solution

Top 10 Digital wallets in India – Rpay

What is a Digital Wallet?

Digital Wallet is a like a financial balance where one can stack cash and utilize it to pay for different offline and online services. Dissimilar to Bank accounts, these wallets don’t offer any enthusiasm on the cash kept in the wallet however are more for simplicity of computerized exchanges and benefiting a few offers on utilizing their services. Paytm is a standout amongst the most mainstream digital wallets right now.

Benefits of digital wallet

  • Allows you to go cashless without the need to go through the process of acquiring credit cards.
  • Makes transactions trackable and easier to manage
  • Get offers, benefits and rewards for using digital wallets
  • Allows you to do multiple things like – Transfer to friends, Online Shopping, Pay at offline merchants or even pay your Bills
  • Is instant and free (for users)

Is Digital Wallet same as BHIM/UPI?

Digital Wallets are not same as the BHIM application or UPI service is essentially a payment interface enabling simple shared exchanges. Google Pay utilizes this innovation thus will Whatsapp. Some computerized wallets do support UPI cash exchanges however they give far greater usefulness to the clients.

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Favorable circumstances of a Cashless Society

A cashless society is a monetary state where budgetary exchanges are not directed with money or physical cash. In less demanding words, we can state that a cashless society is where no banknotes and coins are utilized for a budgetary or monetary exchange or buy. The exchanges and buy are somewhat done carefully between the gatherings, or, in other words portrayal of cash.

Cashless society is definitely not another idea and it existed some time before the idea of cash, and it was known as trade framework, where products and enterprises were given in return for merchandise and ventures. Advanced exchanges are somewhat like that to deal framework as in both the cases there is no exchange of physical cash. Cashless exchanges have turned out to be conceivable with the utilization of charge cards, Mastercards, and mobile wallets like Google pay, Phone pay, Paytm, online financial balance exchange and furthermore through computerized monetary standards, for example, bitcoin. Be that as it may, all these have made the procedure very simple and agreeable for the general population.

As now there is no compelling reason to stress over money and going banks and ATM oftentimes. Yet, there is significantly more to consider than the straightforwardness and comfort. There are a few concerns identified with protection and control as each buy and exchange are currently recorded some place and checked by somebody. While a greater part of individuals wouldn’t fret this, a few people need their exchanges and buys to stay private for numerous reasons.

Favorable circumstances of a Cashless Society

Effective and Convenient

Going cashless decreases the issue of illustration money and liberates from the strain that whether trade out hand is adequate to make a payment or not. With cashless and digitized payment framework it has turned out to be more productive and helpful for the majority. This likewise accelerates the procedure of the budgetary transaction.

Continue reading Favorable circumstances of a Cashless Society

The inspiring journey of Paytm Founder Vijay Shekhar Sharma

“To the winners, who won because they didn’t give up.”- Vijay Shekhar Sharma, founder of Paytm.

The man, who always wears a welcoming smile, stands true to every word he wrote during the most difficult times of his life. Vijay Shekhar Sharma owns a company whose current value is a little over $3 billion in the market in 2016, a dream dreamt when he was struggling to make ends meet with Rs 10 in pocket. But he tasted victory the hard way. Nothing came easy for him. The tears he hides behind the chirpy self that he puts up in front of the world could not be hidden for long while recollecting his journey. Interestingly, it was not talking about his failures that brought tears in his eyes; it was his hard earned victory.

Continue reading The inspiring journey of Paytm Founder Vijay Shekhar Sharma