The Indian electronic payment is paytm. This company is based out of Delhi NCR and is considered to be the e-commerce company. The launching of this company took place in August 2010. It is considered to be the Parent One97 Communication’s Consumer brand. The name of paytm signifies pay through mobile. Up to the date of January 2017, over 13000 employees are hired by this company. Across India, it also comprises 3 million offline merchants. Paytm Wallet and Paytm payment are also operated by it. In 2015 for receiving funding from Chinese eCommerce company Alibaba, paytm became the first Indian company. In 2015 it had got a license to start “Paytm Payments Bank Limited” which is considered to be India’s first payment bank.
Launching WhatsApp With Payment Option By Paytm
New Messaging service is going to be launched by payments bank Paytm by the end of August to compete with WhatsApp. In accordance with the news report of Reuters, digital payment option of Paytm chat app will be offered so as “to buy everything from food to plane ticket. To carry out a digital transaction on the chat platform is the option offered by WeChat which has gained popularity in China. Plans had been shared by Whatsapp earlier for payment integration in the app. Users can send video, audio, texts, and pictures by this messaging service which is added to the report.
Hike wallet has been introduced recently by rival messaging app Hike. Free and Instant bank to bank transfers can be done by users to their friends by Unified Payment Interface (UPI) support enabled in Hike 5.0. Recharging of phones and payment of postpaid bill are carried out in Hike 5.0. In news, Payment bank of digital payment firm had been introduced as Paytm Payments Bank.