Paytm offers free recharge of Rs 30 for people suffering due to Chennai floods.

In a move to help those who are struck in the worst floods in the country , Paytm has decided to do their bit. The company has planned to recharge Rs 30 worth of talktime free of cost for anyone living in Chennai. The southern financial and Tech hub of the country is suffering from the worst floods ever and survival has been difficult for those who have been stuck.

This is the third internet company to do the bit after OLA and Zomata . OLA offered free OLA boats to take out people stuck in the flood affected regions. Zomato offered free meal to people who ordered through the app.

According to a blog from Paytm the company said “If you would like to recharge anyone’s mobile number so that they can remain connected during this tough time, please call us at 18001030033 and share the mobile number. We will recharge it with Rs.30 worth of talk-time, free of cost”.

Gestures like these are a good initiatives by companies  to help those in need.

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Paytm will partner with ICICI Bank to launch Prepaid cards.

Mobile commerce company Paytm  is planning a partnership with ICICI bank to launch virtual prepaid cards for its existing users. The partnership would allow its customers add money to their wallet at any ICICI branch. It will be a 16-digit, Paytm-ICICI Bank co-branded, virtual prepaid card that can be used at any retail organisation that accepts Visa, MasterCard and Rupay. It will go a long way towards having our wallet accepted across merchants,” said Vijay Shekhar Sharma, founder and chief executive of Paytm.

The partnership is one of its kind between an online retailer and a full scale bank. Both the companies are optimistic with the lauch and it will be interesting to see how the card suffices the need of current online savy shopper.

Indian banks have understood that they have to be a part of the mobile payments platform, either organically or inorganically, to preserve continuity of business,” said Jayanth Kolla, partner at research and advisory firm Convergence Catalyst.

The biggest advantage for the user will be that with this card they can shop not only on Paytm but also on other ecommerce sites like Amazon and Flipkart. The additional service of loading money into Paytm Wallets at over 4,000 ICICI Bank branches is yet another initiative to popularize the usage of electronic payments in the country, We don’t need to integrate our payments platform with all merchants, and this, in turn, will give universal access to consumers, who can shop at any establishment that accepts, credit, debit and prepaid cards.” said Rajiv Sabharwal, executive director, ICICI Bank.

Paytm minted 300 crore this Diwali.

M-Commerce pioneer , Paytm sold goods woth Rs 300 crore this Diwali . The company backed by China’s Alibaba group sold goods ranging from mobiles phones to motorcycles and bicycles .The company launched in 2010 made a huge progress in online to offline mode which is touted to be the big next thing in the ecommerce Industry .In this model the consumers selects and pays online while get the delivery from the showroom. Th ecompany sold more than 500 Mahindra motorcycle with whom they have the exclusive sale contract and 1000 bicycles. The company was providing a whopping 25% cash back on the Mahindra motorcycles.

Company’s biggest selling category , mobile phones showed a 5 fold incrase in the sales as compared to the daily average sale. The devices were also sold in an online to offline mode as the company has made a tie up with the mobile store , the largest retail chain for mobile phones in the country.