Paytm achieves 1.2 billion monthly transactions
Digital financial services firm, which has over 150 million monthly active users, said that it had made deep inroads into the grassroots of the country
Digital financial services firm Paytm on February 28 said it achieved over 1.2 billion monthly transactions on its platform, driven by growth in offline payments and financial services.
“We have been promoting all digital payment methods giving multiple choices to consumers that have helped us in consolidating our leadership position. In fact, a large percentage of our users who started their digital journey with Paytm, have now adopted & embraced our financial services,” Narendra Yadav, Paytm vice-president, said.
Paytm, which has over 150 million monthly active users, said that its digital financial services had made deep inroads into the grassroots of the country and had been adopted by millions of Indians in small-town and rural India. The company currently offers services such as banking, insurance, credit cards and investing platforms for mutual funds, stocks, IPO and ETF.
Further, the company added that it had the highest market share in offline merchant payments with 15% M-o-M growth. “The company is innovating & refining its products including Paytm All-in-One QR, Paytm All-in-One Android POS, Soundbox, Paytm for Business app for over 17 million merchants who have embraced and endorsed its services,” it said.
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Macau's gambling revenue surges 135.6% in February
Gambling revenue in Macau surged 135.6% in February year-on-year even as the world’s biggest casino hub struggled to boost visitors from its key market of mainland China as authorities there urged residents to limit travel.
February’s figure was 7.312 billion patacas ($915.14 million), according to figures released by the Macau government on Monday.
($1 = 7.9900 patacas)
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Indian bourses say operating fine after investors complain of glitches
MUMBAI, March 1 (Reuters) – Indian stock exchanges said on Monday their systems were working normally after some investors complained on social media of certain technical issues with their brokers.
The National Stock Exchange, India’s largest, said all operations on its platforms were “functioning smooth & normal” and its rival BSE Ltd said there were no issues with fresh orders or square-offs and that all segments were working fine.
BSE Chief Executive Ashish Chauhan separately said on Twitter their statement was in response to brokers and investors reporting problems on a competing exchange.
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Chicago Business Barometer Pulls Back More Than Expected In February
MNI Indicators released a report on Friday showing a bigger than expected slowdown in the pace of growth in Chicago-area business activity in the month of February.
The report said MNI Indicators’ Chicago business barometer dropped to 59.5 in February after jumping to a more than two-year high of 63.8 in January.
While a reading above 50 still indicates growth in Chicago-area business activity, economists had expected the index to show a more modest decrease to 61.1.
The bigger than expected drop by the business barometer came as the new orders index tumbled by 11 points to its lowest level since last August. The production index also slumped by 9.3 points.
MNI Indicators said anecdotal evidence painted a mixed picture, with some firms experiencing a downturn due to the coronavirus pandemic, while others report strong consumer demand.
Meanwhile, the report said the employment index jumped by 5.7 points to a sixteen-month high but remained in contraction territory.
The prices paid index also inched up by 0.1 points, reaching the highest level since September of 2018, as companies again noted increase in price for raw materials, especially tin.
MNI Indicators said 87.2 percent of respondents were undecided when asked if their organization would require their workforce and contingent labor to be vaccinated for the coronavirus.
Myanmar's Aung San Suu Kyi faces new court charges, lawyer says
- Myanmar's ousted leader Aung San Suu Kyi appeared in good health at a court hearing via video conferencing on Monday, during which an additional charge was added to those filed against her after a coup a month ago, a lawyer for her said.
- Lawyer Min Min Soe told Reuters Suu Kyi had requested to see her legal team during the hearing via video link.
- Min Min Soe said the next hearing would be March 15.
Myanmar's ousted leader Aung San Suu Kyi appeared in good health at a court hearing via video conferencing on Monday, during which an additional charge was added to those filed against her after a coup a month ago, a lawyer for her said.
Lawyer Min Min Soe told Reuters Suu Kyi had requested to see her legal team during the hearing via video link. The additional charge is from the country's colonial-era penal code, which prohibits publishing information that may "cause fear or alarm."
Min Min Soe said the next hearing would be March 15.