Monday, March 27, 2023
Outlook India
Outlook Business

Paytm Payments Bank

The success rate of transactions via Paytm UPI LITE is said to be improved further as it is designed to reduce the load on bank systems for small-value payments

The Paytm board approved the buyback of shares worth Rs 850 crore on December 13, representing 6.67 per cent of the total paid-up share capital

The platform has won the award in recognition of the superfast and secure transactions powered by Paytm UPI

With this, PPBL has aimed to empower users with convenient payments through a greater acceptance of RuPay credit cards, strengthening the credit card ecosystem in India

Paytm's EBITDA (earnings before interest, taxes, depreciation, and amortization), an indicator of operational profit, before ESOP cost margin improved to Rs 31 crore during the third quarter ended December 31, 2022

Earlier, Paytm Payments Bank was undertaking this activity under in-principle authorisation from the Reserve Bank of India

Paytm Payments Bank is a joint venture between Paytm and its founder Vijay Shekhar Sharma