New Delhi2 minutes ago
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After getting permission to work as Paytm again as online payment aggregator, its stock is boom today i.e. August 13. Paytm’s parent company One 97 Communications shares rose by about 4%. Its stock is trading at Rs 1,173.
Earlier, on tomorrow, August 12, RBI allowed Paytm to work again as an online payment aggregator. This information has been given by its parent company One 97 Communications to the Stock Exchange.
The RBI had previously banned the addition of new traders on Paytm Payments Services. Due to this, the company was not able to provide the facility to collect payment from new traders. Now after the ban is removed, the company can add new traders again.
What is a payment aggregator? Now a customer wants to pay a shopkeeper or a businessman with UPI, card or net banking, so the shopkeeper needs a system to take money directly and keep it safe. This is where the payment aggregator comes. The payment aggregator (eg Paytm, PhonePe, Payu) takes money from the customer.
The money keeps the money in the Escro account (a special bank account in which business money is protected). Then on time, he transfers money to the shopkeeper or businessman’s bank account. You do not have to get a mess to connect with different payment systems, the aggregator manages all one place.
Paytm’s share climbed 113% in 1 year Paytm’s stock has climbed 130% in the last one year. At the same time, 54% in 6 months and so far this year has climbed 18%. The company’s market cap is 75 thousand crores.
Paytm started in 2009 Paytm Payment App was launched by Paytm’s parent company One 97 Communications in August 2009. Its founder is Vijay Shekhar Sharma. At present, Paytm has more than 30 million users in the country. The market cap of Paytm is about 28 thousand crores.
