Paytm, owned by billionaire parent company One97 Communications is reputed as India's largest digital payments provider, proving significant due to the nations 1 billion+ population. Paytm has gained significant momentum due to India's low credit card penetration and recent complications with cash. Paytm offers a digital payments platform that allows the customer to transfer cash into an integrated wallet. These funds can then be used for routine payments such as phone and hydro bills.
Backed by notable giants AliBaba, AliPay, Meditek, SAIF Partners, Sapphire Venture, Silicon Valley Bank and K2 global, SoftBank is in talks of investing 1.4 billion into the fintech. It will be noteworthy to see how the funds are allocated to grow the digital giant.
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