‘Cross-border payments and GST new frontiers for Paytm’3 min read . Updated: 09 Mar 2021, 11:54 PM IST
We are getting ready for 5G deployment in the country and preparing our IoT-based payment devices portfolio accordingly
Digital payments giant Paytm is exploring ways to grow revenue and reduce losses. Paytm’s parent One97 Communications Ltd (OCL) is devising strategies to monetize its 20-million-strong merchant base in an effort to achieve break even at a group level over the next 12-18 months, after which it will consider an initial public offering. The firm is also looking at new payment devices that can provide real-time Goods and Services Tax (GST) reconciliation for merchants. It is also eyeing a licence for the New Umbrella Entity (NUE), for which it has partnered with Ola Money, ZetaPay, IndusInd Bank among others to focus on use-cases such as micro-merchants and cross-border payments.