Rapyd, a global Fintech as a Service company, has entered the Indian market with partners including Paytm, PhonePe, PayU, Citibank,...
Paytm is looking to expand beyond their Indian roots and Canada is their first test case; “Paytm Canada is our beta test, or our warhead to get an entry into new geography beyond India,” said founder and CEO Vijay Shekhar Sharma to TearSheet; while their bill pay products help top build customers their big revenue driver is when businesses pay them fees to accept payments; the current test case in Canada has Paytm signing up thousands of Canadian companies where they incentivize customers to pay bills with cash back offers; having a large Indian population in Canada has helped the company gain early success, but expanding to markets like the US is a different type of challenge. Source.
CreditMate is a Mumbai based fintech startup; they help dealers and financiers provide vehicle loans to those with no formal credit history; Paytm plans to partner with the firm as part of the investment. Source
India was one of the fastest growing digital payments markets before the pandemic hit and now many of the companies...
Paytm Payments Bank is aiming to have 500 million accounts offering a wide range of financial services products; the bank launched officially on Tuesday; they are unveiling their money market fund, launching a debit card and will have the capabilities for businesses to open up accounts. Source