Paytm partners with Samsung India, share price rises over 8%

By Team Startupcity  |  Thursday, 13 June 2024, 11:14 IST

Paytm partners with Samsung India, share price rises over 8%
Paytm’s Parent company One 97 Communications Ltd announced the exchanges that the IRDAI – Insurance regulator IRDAI had permitted its request of extraction of its application to enroll as a general insurance company. 
Paytm informed that the significant move lines up with the payments aggregator’s s focus toward amplifying the area of insurance distribution across diverse sectors such as health, motor, life, gadget segments and shop through its subsidiary Paytm Insurance Broking Pvt. Ltd.
Paytm aims to emphasis on small-ticket insurance products for customers as well as merchants by centering on the offerings of small-ticket insurance along with its partners. 
In addition to this, Paytm announced that it has partnered up with Samsung to fetch travel and entertainment services to the Samsung Wallet in India. After is key step, the Paytm’s shares rose 8 percent today. 
In an official statement, the company said, "With the Paytm app being the go-to destination for travel and event bookings for millions of Indians, its partnership with Samsung opens new avenues for users to access its services, in line with its efforts to drive further convenience”.
Paytm shares were returned back over the mark of 400 after its price band was restructured to 10 percent from 5 percent earlier. From then, the company’s stock has climbed as much as 18 percent.  When the company went public in 2021, Paytm was one of the biggest IPOs in India. 
 

CURRENT ISSUE

BEST STARTUPS TO WORK FOR

siliconindia