Latest News | Paytm Partners Uber India to Offer Postpaid Service to Riders

New Delhi, Nov 11 (PTI) Financial services major Paytm on Wednesday said it has partnered Uber India to extend its postpaid service to riders.

With this integration, users will be able to pay for their Uber rides through their Paytm Postpaid account, enabling commuters to shift from cash to postpaid service, a statement said.

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Paytm already has a long-standing partnership with Uber with its payment gateway allowing Uber riders to make instant payments from Paytm Wallet, Paytm UPI and cards.

To avail this new facility, registered users can pay through the Paytm app with funds from their activated postpaid account after completion of a trip. The users can repay later by paying their Paytm Postpaid bill which is generated on a monthly basis.

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* * FASTag on PhonePe crosses 1 mn users, 7 mn transactions

Walmart-owned PhonePe on Wednesday said FASTag, the RFID-based system used to make payments at tolls, has crossed 1 million users with over 7 million transactions on its platform.

FASTag transactions, which were down during the lockdown due to travel restrictions, have since grown 280 per cent relative to January 2020, translating to a 21X jump for transactions on PhonePe, a statement said.

PhonePe supports recharges for 19 major FASTag issuing banks.

"We have seen over 400 per cent growth in private vehicle recharges alone indicating increased intercity travel as markets beginning to open up post the lockdown," Ankit Gaur, Director of Business Development at PhonePe, said.

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* * Nasscom announces winners of EMERGE 50 awards

IT industry body Nasscom on Wednesday announced the winners of Emerge 50 2020, a marathon search for India's most innovative and emerging software product companies.

This year's edition saw over 700 submissions which were then screened and scrutinised on various parameters and evaluation criteria, such as product excellence, market excellence, business excellence, vertical excellence and technology excellence, a statement said.

With Zinnov as knowledge partner, this year the award categories were aligned to reflect and capture the current business transformational areas, and the nomination categories were fintech, health tech, retail tech, logistics and supply chain, SaaS, enterprise, Bharat, IoT hardware and devices, strategic sector and cybersecurity, it added.

The top 10 winners of this year's Emerge 50 include RBJ Technologies (Foyr Neo), Khatabook, Increff (IRIS/IRISx), Devnagri, Shifu Orboot (PlayShifu), RFPIO Inc, Yulu, Cloudenablers, Inc (DBA CoreStack), Tutle Shell Technologies (Dozee), and PandoCorp.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)