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<ul><li><keyword id="10815895" type="PERSON" weightage="20" keywordseo="jaskaran-singh-kapany">Jaskaran Singh Kapany</keyword>, Vice-President Marketing, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> will be moving on after being a part of the organization for 6 years. </li><li><keyword id="193898" type="PERSON" weightage="20" keywordseo="Abhinav-Kumar">Abhinav Kumar</keyword>, Vice President, Product Marketing at Paytm has been given the additional responsibility for now. </li></ul>Jaskaran Singh Kapany, Vice President - Marketing, Paytm will be moving on from the organization. The news was confirmed to us by a highly placed source in the industry on the condition of anonymity. With Kapany moving on, Abhinav Kumar, Vice President, Product Marketing at Paytm has been given the additional responsibility to handle the marketing portfolio for now, the source revealed. Kapany has been a part of Paytm for almost 6 years now and has been responsible for a lot of Paytm’s well-known campaigns. Prior to Paytm, he was VP, Marketing &amp; E-commerce, at <keyword id="75577" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life">ICICI Prudential Life</keyword> where he conceptualized the re-positioning of the master brand with the ‘Achche Bandeh’ corporate campaign. He has also been a part of JWT where he has worked on brands like Rin, Brylcreem, De Beers (DTC) and SBI Mutual Fund, amongst others.

Exclusive: Jaskaran Singh Kapany, Vice President - Marketing at Paytm moves on

Just in case you are still fancying ‘Made in China’ products, here’s some good news for you. <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, the Indian handcrafted mobile payment platform will now allow 1,00,000 sellers from Chinese e-tailer Alibaba’s online shopping portal <keyword id="667611" type="COMPANY" weightage="20" keywordseo="AliExpress">AliExpress</keyword> to start retailing in India. This initiative by Paytm from August is expected to double up the gross merchandise within 6 months. 
 
 
As per a news report in The Economic Times, Paytm, which crossed $1.5 billion (about Rs 9,600 crore) in gross merchandise value (GMV) during the year till April end, expects an additional $1.5 billion from AliExpress business alone in the next six months 
 The development is part of <keyword id="2873073" type="UNKNOWN" weightage="20" keywordseo="Jack-Ma-led-Alibaba">Jack Ma-led Alibaba</keyword>'s plans to grow beyond China. The company bought 25% stake in Paytm for $650 million (about Rs 4,160 crore) in February, giving it access to India's $6 billion (Rs 38,400 crore) ecommerce market 
 <keyword id="386081" type="PERSON" weightage="20" keywordseo="Lakhotia">Lakhotia</keyword> told the the ET that customers will have an option to pay cash on delivery for all products they buy from Chinese merchants. "From a customer perspective, there'll be no difference between an Indian and a Chinese merchant. We'll be the one responsible for the logistics and customer care." 
 Paytm currently has 40,000 sellers in India, of which only 10,000 transact on a monthly basis. But the company expects to have 1,00,000 Chinese sellers right at the launch. This will require the company to scale up its infrastructure rapidly. Much of the $650-million <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> from Alibaba is being used for this purpose, the company executives said. 
 Earlier this month, Alibaba <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> <keyword id="2809713" type="UNKNOWN" weightage="20" keywordseo="Daniel-Zhang">Daniel Zhang</keyword> said the company will <keyword id="47916" type="UNKNOWN" weightage="20" keywordseo="invest">invest</keyword> heavily in existing and new ventures abroad to become a global enterprise. 
 
 (Image: <keyword id="-101" type="COMPANY" weightage="20" keywordseo="India-Times">India Times</keyword>)

​Thanks to Paytm, you can now buy Chinese goods directly from China

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has partnered with EY to probe a <keyword id="7625462" type="UNKNOWN" weightage="20" keywordseo="cashback-fraud">cashback fraud</keyword>, according to reports. </li><li>However, the company has said that it has partnered with <keyword id="123893" type="COMPANY" weightage="20" keywordseo="EY">E&amp;Y</keyword> to build a technology driven fraud prevention system.</li></ul><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> is back in the news again for trouble brewing in its quarters. The company has brought in consulting and auditing giant EY to probe into a possible cashback fraud involving a Paytm employee, according to a report by <a href="https://timesofindia.indiatimes.com/companies/ey-probes-cashback-fraud-at-paytm-mall/articleshow/69299398.cms?">TOI.</a> No further details are known yet and when reached out, Paytm spokesperson was unavailable for comment. If true, this will be the second time Paytm will face a setback from one of its own employees. Earlier in October 2018, Paytm was caught in a <a href="https://www.businesstoday.in/current/corporate/paytm-extortion-i-am-stunned-but-still-believe-sonia-vijay-shekhar-sharma/story/286422.html">scandal</a> involving its Chief Communications Officer Sonia Dhawan in an extortion case. Dhawan was accused of allegedly blackmailing the Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, to extort ₹20 crore from Sharma. However, Paytm Mall has said that it has partnered with E&amp;Y to build a technology driven fraud prevention system. The company has released an official statement regarding its partnership with E&amp;Y, which will help build Paytm Mall a secure network for its users. “Our partnership with E&amp;Y will help benchmark with global best practices as we build a Technology Driven Fraud Prevention System to scale our operations. Our teams continue to work closely with E&amp;Y to share our learnings and insights. We are committed to build a trusted commerce platform and will take strict action against wherever needed,” said Srinivas Mothey, Sr. Vice President – Paytm Mall. While Paytm has seen a fairly smooth and fast growing journey of success, its subsidiary Paytm Mall has run into multiple problems since its launch in 2016. There were even reports that Paytm Mall might not see the light of the day, however things seem to be turning around for the company. According to the company’s statement, Paytm Mall has seen a 200% growth in the past six months. Over the months, it also went on a hiring spree to bring on board 200 people who will help map its growth. “Paytm Mall is a business that has learnt that Online to Offline (O2O) is the best business model. Our attention on partners keeping items in warehouses has now significantly reduced and we have offloaded many partners," Paytm founder Vijay Shekhar Sharma had said in an earlier interview with Business Insider. "Our focus now is on shops – from where the shipments will happen. This model has worked out incredibly well for us. Year on year, we are up and have already cut one third of the costs." See Also: <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">‘I want it all and I want it now’, says Paytm founder Vijay Shekhar Sharma as he plans a ticket to the US</a> <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce </a>

Paytm Mall ropes in auditing giant EY to crack down on frauds

In a block deal, 3.4 per cent equity (or 2.1 crore shares) of <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword>'s parent company One97 <keyword id="4584578" type="General" weightage="50" keywordseo="communications-ltd" source="Orion">Communications Ltd</keyword> (OCL) changed hands on Friday. Sources in the know of the development say that Chinese multinational Alibaba has sold its entire stake in Paytm in today's block deal. With this sale, Alibaba is no longer a stakeholder in Paytm. The company had sold around 3.1 per cent of 6.26 per cent equity in Paytm in January. This latest deal almost completes Alibaba's exit from <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> since it had earlier sold its stakes in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="964794" type="General" weightage="20" keywordseo="bigbasket" source="Orion">BigBasket</keyword>. The news will bring cheer to the market as it ends the Chinese stakeholding in the homegrown Paytm. Paytm's shares have been rallying in the last few days since it announced operating profitability in its Q3FY23 results with EBITDA before ESOP cost at Rs 31 crore, significantly ahead of its guidance of September 2023. The fintech giant revenue from operations increased to Rs 2,062 crore (no <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> incentive recorded this quarter), a growth of 42 per cent on a yearly basis. This was followed by Paytm's robust operating update of January 2023 that it filed with the stock exchange on February 8. The company has continued to witness sustained growth momentum in its key payments and lending business. Paytm strengthened its leadership in offline payments with the deployment of 6.1 million devices while its average MTU at 89 million registered a 29 per cent growth for the month of January 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/what-is-formula-e-all-you-need-to-know-ahead-of-inaugural-race-in-india/articleshow/97795878.cms">What is Formula E? All you need to know ahead of inaugural race in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rrr-kgf-chapter-2-game-of-thrones-spider-man-no-way-home-among-most-pirated-content-in-india-in-2022/articleshow/97795322.cms">RRR, KGF Chapter 2, Game of Thrones &amp; Spider-Man: No Way Home among most-pirated content in India in 2022</a>

Chinese multinational Alibaba exits India, sells its entire stake in Paytm

<ul><li><keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> has released its monthly spends by ₹400 million and aims to turn profitable in two years. </li><li>The company aims to rake in a ₹170 billion GMV by 2022.</li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall has had multiple problems since its inception, where there were also rumours that the company might not see the light of the day.</li></ul>Paytm Mall, the e-commerce subsidiary of One97 communications which owns Paytm, is aiming to turn profitable in the next two years. The company said that it reduced its monthly spends by ₹400 million, is targeting an EBITDA breakeven by 2021-22. EBIDTA is earnings before interest, depreciation, tax and amortization. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022. “We do not lose money on any order we ship. More than GMV, we are focused on increasing revenue and factors contributing towards it. We expect 70-80% of the orders being shipped from the same city. We would be happy to be a cost attention company rather than no attention at all,” said Srinivas Mothey, Sr. Vice President – Paytm Mall. This is good news for the company, as its prospects did not look very good a while back and reports said that it might close down. Online to Offline Yet its fortunes changed by May 2019 as the company said that it grew by 200% in six months, and hired 200 people. In an earlier interview with Business Insider, Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> shared what worked for them. “Paytm Mall is a business that has learnt that Online to Offline (O2O) is the best business model. Our attention on partners keeping items in warehouses has now significantly reduced, and we have offloaded many partners," he had said. Today, the platform has 100,000 sellers and is planning to scale up by three times. It also plans to piggyback on the success of Paytm, whose monthly transactions are as much as 400 million transactions per month, to drive demand.

Paytm Mall hopes to turn profitable in 2 years

With a few more days to go for Diwali, <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> acquired <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge" target="_BLANK￿￿￿￿">Freecharge</a> is already having a blast. You must be wondering what the reason is. Well, Jasper Infotech, the parent company of Snapdeal will be raising $300 million (Rs 2,000 crore) for its digital services platform <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge" target="_BLANK￿￿￿￿">FreeCharge</a>. 
 The fundraising exercise will bolster <keyword id="6377963" type="UNKNOWN" weightage="80" keywordseo="Freecharge">Freecharge</keyword>’s grounding and thereby aid Snapdeal to extend more goods and services to the customers. In the news report, The Economic Times has also said that Snapdeal had earlier raised $500 million from Alibaba, <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn" target="_BLANK￿￿￿￿">Foxconn</a> and SoftBank. 
 
The ET news report further confirmed that two sovereign funds are also keen on investing in this round. While the identities of these investors haven’t been ascertained yet, this proves that India is becoming a luring ground for investors funding in digital space. 
 
Freecharge’s rival <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm" target="_BLANK￿￿￿￿">Paytm</a> has raised almost $680 million from Alibaba. This fundraising by Freecharge will help Snapdeal to counter <keyword id="6357120" type="UNKNOWN" weightage="60" keywordseo="PayTM">Paytm</keyword>. Vijay Shekhar Sharma, the founder of the company which owns Paytm, is one of the 11 entities to receive an RBI licence to start a payment bank, reported the ET. 
 
However, the new <a href="http://www.businessinsider.in/searchresult.cms?query=fund+raising+" target="_BLANK￿￿￿￿">fund raising</a> would not have any secondary components. This would mean that Freecharge <a href="http://www.businessinsider.in/searchresult.cms?query=fund+raising+" target="_BLANK￿￿￿￿">investors</a> including Sequoia Capital, hedge funds Valiant Capital and Tybourne Capital, ru-Net and Sofina will keep holding Snapdeal’s stock.

Freecharge gets fund booster as Snapdeal readies to raise $300 million

<ul><li>In an interview with Business Insider, <keyword id="323682" type="PERSON" weightage="20" keywordseo="Rudra-Dalmia">Rudra Dalmia</keyword>, Executive Director, <keyword id="4225623" type="PERSON" weightage="20" keywordseo="Paytm-Mall">Paytm Mall</keyword> shares the aggressive growth plans <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> Mall has. </li><li>In July, American e-commerce giant eBay had bought a 5.5% stake in Paytm Mall. </li><li>The company is already contribution margin positive and is aiming for net profitability. </li></ul>Paytm Mall is headed to new shores – Middle East, thanks to its latest investor – e-commerce giant eBay. American e-commerce giant eBay had bought a 5.5% stake in Paytm Mall, <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>’s new e-commerce vertical in July. “We are going to build a very large Gulf business and export is going to be a big thing for us. Currently, we are testing the partnership with Ebay, who will expose our Indian catalogue there,” said Rudra Dalmia, Executive Director, Paytm Mall in an interview with Business Insider. Through eBay’s investment, Paytm Mall will also make eBay’s entire catalogue available to Indian users. The company ended the last financial year with a Gross Merchandising Value (GMV) of ₹130 billion and is now aiming for ₹170 billion GMV by 2022. It also cut it costs by 85-90% every month. “We are already make a margin positive contribution. Now we don’t sell anything, where we lose money. The aim is to now achieve net profit which will take a few years,” said Dalmia. Hard decisions It was a cold December morning, when the newly joined Dalmia had a meeting with Vijay Shekhar Sharma, who said “this is not working”. That’s when Paytm Mall changed the way it worked to become an O2O model led business. With this, Paytm Mall now drives its online traffic to offline stores through gift vouchers, offers and uses offline strength to push online traffic through digital payments only. “We took some hard decisions and decided to focus on the bottom line. We cut all unnecessary costs with an aim to be contribution/revenue positive. So, we turned the focus on paytm’s strengths – merchants and huge user base,” said Dalmia. It plans to piggyback on the success of Paytm, whose monthly transactions are as much as 400 million transactions, to drive demand. Better business, not a bigger business Today, Paytm Mall is a ‘for, by and of the merchants’ platform. While e-commerce still has a 40% role, O2O now takes up the 60% chunk of its business. “We want to be a better business, not a bigger business. Paytm already has over 13 million merchants onboarded. And there’s a lot of trust. One of the biggest achievements of Vijay has been to convince people that Paytm money is real money,” said Dalmia. This is good news for the company, as its prospects did not look very good a while back and reports said that it might close down. Yet its fortunes changed by May 2019 as the company said that it grew by 200% in six months, and hired 200 people. And they are still hiring aggressively across roles, informs Dalmia. “In hyper growth companies, you grow, you consolidate and then you turn profitable. We are currently consolidating and we will show how it is done,” said Dalmia.

You Searched For "Paytm news" and got 7 results

Exclusive: Jaskaran Singh Kapany, Vice President - Marketing at Paytm moves on

Samarpita Banerjee

Thanks to Paytm, you can now buy Chinese goods directly from China

BI India Bureau

Paytm Mall ropes in auditing giant EY to crack down on frauds

Sanchita Dash

Chinese multinational Alibaba exits India, sells its entire stake in Paytm

ANI

Paytm Mall hopes to turn profitable in 2 years

Sanchita Dash

Freecharge gets fund booster as Snapdeal readies to raise $300 million

BI India Bureau

‘We will show how it’s done’ – Paytm Mall heads to the Middle East, with a push from eBay

Sanchita Dash

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You Searched For "Paytm news" and got 7 results

Exclusive: Jaskaran Singh Kapany, Vice President - Marketing at Paytm moves on

Samarpita Banerjee

​Thanks to Paytm, you can now buy Chinese goods directly from China

BI India Bureau

Paytm Mall ropes in auditing giant EY to crack down on frauds

Sanchita Dash

Chinese multinational Alibaba exits India, sells its entire stake in Paytm

ANI

Paytm Mall hopes to turn profitable in 2 years

Sanchita Dash

Freecharge gets fund booster as Snapdeal readies to raise $300 million

BI India Bureau

‘We will show how it’s done’ – Paytm Mall heads to the Middle East, with a push from eBay

Sanchita Dash

Popular Keywords

Buying Guides

Thanks to Paytm, you can now buy Chinese goods directly from China