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Paytm To Offer Foreign Exchange Services And Remittance Soon

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Paytm Offer Foreign Exchange Services And Remittance Soon,Startup Stories,2018 Latest Business News,Startup News India,Paytm New Offers,Paytm Launch Foreign Exchange Services,India Largest Digital Payments Platform,Paytm Foreign Exchange Services,Paytm Business News

India’s largest digital payments platform, Paytm, is set to foray into foreign exchange and cross border payments under its payments bank entity. Paytm is on the road to dominate the Indian digital payments space with its recent entry into wealth management and insurance services as well as entering into cross border commerce among other services. According to reports, Paytm already received the authorized dealership license from the Reserve Bank Of India to offer services of foreign exchange to foreigners traveling in India as well as Indians looking for foreign exchange before embarking on a trip abroad.

The Economic Times reported the newly formed bank is all set to start offering foreign exchange services and going forward, could also enter into cross border remittance services for its customers, as per sources. A Paytm top executive further added, “Having started with payments, Paytm is slowly diversifying into other financial services and foreign exchange conversion will be a starting point and eventually it could also try to venture into cross border payments both outward and inward.

Along with Paytm, Airtel Payments Bank and Jio Payments Bank have also received the license for cross border payments from the Central Bank of India. Fino Payments Bank is the latest bank to join the list of companies taking a step closer towards becoming full service financial entities.

According to fintech company InstaReM the cross border remittance market in India is worth around $ 6 billion to $ 7 billion annually. InstaReM and PayPal are two of the biggest competitors to Paytm in this space. Paytm is also a majority player in the Indian digital payments space which is said to be worth $ 500 billion. The financial services company is backed by the world’s leading conglomerates Alibaba and SoftBank as well.

Launched in 2010, Paytm quickly grew in ranks by offering online services like mobile recharges, utility bill payments, travel, movies and events bookings as well as in store payments with the Paytm QR Code. As of February 2017, the company claims to have 800 million active users, over 13,000 employees and has 3 million offline merchants across India.

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Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

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My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

With this acquisition, Imarticus will bring MyCaptain’s employability bootcamps in digital marketing, design, and content to its 20+ classroom centers in 16 cities, blending online and offline learning. MyCaptain will operate as a fully-owned subsidiary, and all 250 of its employees will join Imarticus, expanding the combined workforce to over 850. The move supports Imarticus’s goal to reach five million learners by FY28 and deepen its offerings in non-tech domains.

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Kingdom of Innovation: Saudi Arabia Tops Global Startup Growth Rankings for 2025

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StartupStories

Saudi Arabia has been named the fastest-growing startup ecosystem in the world in the 2025 StartupBlink Global Startup Ecosystem Index, with a growth rate exceeding 200%—the only country in the global top 100 to achieve this milestone. This surge has earned the Kingdom the “Country of the Year” title, highlighting its transformation into a global innovation leader.

The report ranks 110 countries and 1,400 cities, with three Saudi cities—led by Riyadh—making the global top 1,000. Riyadh entered the world’s top 100 startup cities, posting a 134% growth rate, and solidifying its role as a regional tech hub.

Saudi Arabia now leads globally in HealthTech, nanotechnology, and transport tech, and ranks among the top in sectors like fintech, e-commerce, logistics, and gaming. The Kingdom’s rapid progress is fueled by Vision 2030, robust government support, and record venture capital investment, making it the most funded VC market in MENA.

Startups such as Tabby, Tamara, and Jahez exemplify this momentum, as Saudi Arabia emerges as a top destination for innovation and entrepreneurship.

 

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SC Grants Relief to Paytm’s First Games, Stays Massive GST Notice

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StartupStories

The Supreme Court of India has granted interim relief to Paytm’s gaming arm, First Games, by staying proceedings on a ₹5,712 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). The notice, sent in April 2025, demanded GST for the period January 2018 to March 2023, based on the department’s view that 28% GST should be levied on the total entry amount, rather than the 18% GST currently paid on platform fees.

First Games challenged the notice in the Supreme Court, which on May 23, 2025, ordered a stay on all further proceedings until a final decision is reached. The dispute is part of a broader industry-wide debate over the correct GST treatment for real money gaming platforms, with similar cases pending before the court. Following the stay, Paytm shares rose nearly 2% in early trading, reflecting investor optimism.

The Supreme Court’s order provides temporary relief to First Games and signals ongoing judicial scrutiny of GST demands across India’s online gaming sector.

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