×
185
Fashion Jobs
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
MUTHOOT FINCORP
Area Manager
Permanent · Tiruchirappalli
INFINIX
National Sales Manager
Permanent · MUMBAI
1MG
Sales Manager - Diagnostics
Permanent · National Capital Region
DODLA DAIRY LIMITED
Area Sales Manager -Salem
Permanent · Salem
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Fans & Lighting / Retail Sales
Permanent · Ludhiana
BASIC ENTERPRISES PVT LTD
Area Sales Manager
Permanent · Mumbai
ZEE LABORATORIES LIMITED
Area Sales Manager / Regional Sales Manager
Permanent · Bhopal
CROSS COUNTRY INFOTECH
Production Manager
Permanent · Jodhpur
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
RELIABLE CLOTHING PVT. LTD
Production Manager - Garment Manufacturing Export House
Permanent · Mumbai
HUMAN TOUCH
Sales Manager - Mumbai
Permanent · Mumbai
KAZO FASHION PRIVATE LIMITED
Garment Technician
Permanent · Noida
UMANO HEALTHCARE PRIVATE LIMITED
Regional Sales Manager / Area Sales Manager- (Pharma Sales) mp
Permanent · Bhopal
OLIVE GREEN CONSULTING LLP
Urgently Looking For Production Manager - Gurgaon
Permanent · Gurugram
MONEYWISE FINANCIAL SERVICES
Area Sales Manager || Nbfc (Lap / bl) - Delhi
Permanent · National Capital Region
MAGICBRICKS
Area Sales Manager
Permanent · Thane
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
RELAXO
Area Sales Manager
Permanent · Bargarh
OUTHOUSE JEWELLERY
E-Commerce Manager
Permanent · NOIDA
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
GOKALDAS EXPORTS
Manager - Fabric Warehouse - Garments Background - Bhopal, mp
Permanent · Bhopal
By
Reuters
Published
May 15, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Citigroup looks to vastly expand India reach with Paytm tie-up

By
Reuters
Published
May 15, 2019

India’s top digital payments firm Paytm on Tuesday launched a credit card with Citigroup, widening its financial product base while giving its banking partner an opportunity to vastly expand its credit card customer base in the country.


Paytm became a household name across India after New Delhi’s shock move to ban high-value currency notes late in 2016 led to a cash crunch and boosted use of its electronic wallet - Reuters


The new card should help Paytm stay a step ahead of rivals in the fiercely competitive digital payments market in India where companies from Alphabet Inc-owned Google to Walmart-owned PhonePe, are all scrambling to grab a piece of the digital payments pie that is projected to grow to $500 billion by 2020, according to the Boston Consulting Group.

For Citi, it is a big opportunity to extend its retail presence in India.

Even if only 1% of Paytm’s over 300 million customers use the new credit card, that’s a huge number, Stephen Bird, Chief Executive, Global Consumer Banking at Citi told reporters at a news conference.

“We think there is a tremendous potential for growth of this partnership,” Bird added.

Paytm became a household name across India after New Delhi’s shock move to ban high-value currency notes late in 2016 led to a cash crunch and boosted use of its electronic wallet.

Its parent One97 Communications counts Japan’s SoftBank Group, Alibaba and Berkshire Hathaway among its investors.

The Paytm First Card will offer 1 percent cashback on all transactions, unlike reward points offered by most rival credit cards in India.

“We understood that there is a set of the customer base or customer needs that get fulfilled when you have a credit card or card in the hand,” said Vijay Shekhar Sharma, founder and CEO of One97 Communications.

“That is why we had launched a debit card of our bank and today we complete our offering with a credit card partnership with Citibank.”

Sharma, a self-made billionaire, said his firm is targeting “urban aspirational users who are first-time credit users”.

© Thomson Reuters 2022 All rights reserved.