Paytm: The long-struggling fintech startup Paytm has finally received some positive news after a long time. A government committee has allowed Paytm to accept an investment of Rs 50 crore from China. We inform you that Paytm Payment Services will be the recipient of this investment. Although Paytm will still need to get approval from the finance ministry before making any investment. Let us tell you that the government committee had opposed China’s Ant Group’s 9.88% ownership of Paytm before getting this approval. Watch the full video for the rest of the information.

Formerly called Ant Financial, Ant Group is a subsidiary of Alibaba Group, a Chinese business. With 80 million merchants and more than 1.3 billion users, the group operates Alipay, the world’s largest mobile payment platform. As of June 2020, the total payment volume has reached CN¥118 trillion.

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