Now Paytm Money users can track all their mutual fund investments on its app; claims over 1 million customers

Mutual Fund, Mutual Fund Performance In 2018, Equity Mutual Fund, Large Cap, Mid Cap, Small Cap, ELSS, Top Gainers Fund, Top Losers Fund

Paytm Money claimed of registering over 1 million users within six months of launch.

Popular online payment platform Paytm has said that its users would now be able to track the performance of their mutual fund investments on its subsidiary portal Paytm Money for free.

Investors would have to upload their Consolidated Account Statement (CAS) generated via Karvy Fintech on Paytm Money to track their all investments in their portfolio on the Paytm Money app, the company said in a statement.

Paytm Money claimed of registering over 1 million users within six months of launch.

Mutual fund investors putting their money via multiple channels including asset management companies, banks, advisors and distributors don’t get to look at the performance of their investments cohesively under a single platform.

Investors who haven’t invested via Paytm Money app can also track their daily portfolio performance irrespective of their channel or the mode of investment.

“We received many requests & feedback from Paytm Money users to be able to import their external investments to our platform. This assists an investor in keeping track of all investments in one place, further helping in their investment decisions,” said Paytm Money whole-time director Pravin Jadhav.

Paytm Money claimed to have partnered with 34 asset management companies covering over 94% AUM of the mutual fund industry.

Paytm’s mutual fund arm operates from Bengaluru and has a team of over 250 members Paytm Money, which aims to become a full-stack investment and wealth management services company, offer users mutual fund investments starting with Rs 100 via systematic investment plan or lump sum mode.

Recently at the World Economic Forum in Davos, Paytm’s chief financial officer said that the company is looking at expanding to 1-2 more developed markets this year. He told Reuters that the company has already found its footing in Canada and Japan while many of its commerce and financial services businesses have started to generate revenue and profits.

The company is also reportedly planning to expand into lending and credit cards services.

[“source=financialexpress”]

Warren Buffett’s Berkshire Hathaway Takes Stake in Paytm

Warren Buffett's Berkshire Hathaway Takes Stake in Paytm

Berkshire Hathaway invested Rs. 25 billion ($356 million) in the Indian company behind digital payments firm Paytm, according to a source with direct knowledge of the deal, in a foray by the conglomerate into India and the financial payments industry.

Billionaire Chairman Warren Buffett’s assistant, Debbie Bosanek, confirmed Berkshire’s investment in India’s One97 Communications in an email. She said Buffett was not involved in the transaction.

India’s Economic Times reported earlier on Monday that Berkshire was in talks to pick up a 3 percent to 4 percent stake in a deal potentially valuing Paytm at over $10 billion. The report cited people familiar with the matter.

One of Buffett’s key investment deputies, Todd Combs, who is also seen as a potential chief investment officer at Berkshire, is leading the transaction, the newspaper reported. It has been a busy year for Combs, who has also been heading Berkshire’s efforts to start a healthcare joint venture with Amazon.com and JPMorgan Chase & Co.

In May, Buffett said at Berkshire’s annual shareholders meeting that the financial payments industry is a huge deal around the world and that many companies are working to reinvent the industry.

His conglomerate, meanwhile, has been under pressure to find significant investments and whittle down a $108.6 billion stockpile of cash.

Japan’s SoftBank and China’s Alibaba Group are among the major backers of Paytm.

One97 Communications, SoftBank and Alibaba did not immediately respond to requests seeking comment.

© Thomson Reuters 2018

Disclosure: Paytm’s parent company One97 is an investor in NDTV’s Gadgets 360.

[“Source-gadgets.ndtv”]

Paytm Says Mobile Wallets Will Become Strong Players in Financial Ecosystem

Paytm Says Mobile Wallets Will Become Strong Players in Financial Ecosystem

Mobile wallets will become strong players in the financial ecosystem as the RBI guidelines on prepaid instruments will allow more features like unlimited transfer of funds between a bank account and a wallet, a top official of Paytm Payments Bank said.

Paytm Payments Bank MD-CEO Renu Satti said the RBI guidelines released this month will enable mobile wallets to gain access to more functionalities like unlimited transfer of funds between a bank account and a wallet and higher limit of up to Rs. 1 lakh for money transfer to beneficiary accounts.

She added that as part of Paytm Payments Bank, customers get the convenience of wallets and can earn interest on their deposits by transferring money from the wallet to their payments bank account.

“This will further strengthen the value proposition of mobile wallets and make them stronger players in the financial ecosystem,” Satti said.

Paytm has over 270 million registered wallet users. However, the mandate to undertake KYC of customers could be a challenge as mobile wallets companies will have to make additional investments in the diligence process.

The KYC (Know Your Customer) process allows banks and other institutions to obtain and verify information about customers’ identity and address.

As per the new norms, mobile wallets that were conforming to a minimum KYC format (like verification of mobile number) will have to get full KYC of customers done within 12 months of setting up the wallet.

Paytm has already said it plans to invest $500 million towards the KYC exercise over the next three years.

Satti said while the process may seem time-consuming, it will also help prevent identity theft, fraud and money laundering and ensure customers’ money is safer than ever before.

“The new RBI guidelines would bring greater confluence and power to m-wallets. It will also ensure money transfers are simpler and financial systems are safer,” she added.

Paytm has introduced a ‘Nearby KYC Points’ section in its app that directs users to nearby partner shops and locations where customers can get Aadhaar biometric KYC done for their Paytm wallets.

Paytm Payments Bank started its operations earlier this year. Its Chairman Vijay Shekhar Sharma owns majority stake in the company, while the remaining share is owned by One97 Communications.

Disclosure: Paytm’s parent company One97 is an investor in NDTV’s Gadgets 360.

[“Source-gadgets.ndtv”]

Paytm Mall Sale, Xiaomi Mi 5X India Launch Date, OnePlus 5’s New Skin, and More: Your 360 Daily

Paytm Mall Sale, Xiaomi Mi 5X India Launch Date, OnePlus 5's New Skin, and More: Your 360 Daily

HIGHLIGHTS

  • Paytm Mall sale kicked off a day before Flipkart offers and Amazon deals
  • Xiaomi Mi 5X has a dual rear-camera setup
  • OnePlus 5 buyers will now be able to choose a Soft Gold option

Paytm Mall began its Independence Day sale on Tuesday, a day before Flipkart Big Freedom Day Saleand Amazon Great Indian Sale kick off. The Paytm sale will go on for a full week leading into August 15. Discounts and cashback offers are being provided on a range of smartphones, laptops, home appliances, clothing and accessories. As part of the Paytm sale, you can get the iPhone 7 with up to Rs. 8,000 cashback, the iPhone SE at flat 15 percent discount and Rs. 3,000 cashback. The Xiaomi Mi Max 2 is also available as part of the sale.

There are Paytm cashback offers up to Rs. 20,000 on Apple, HP, and Lenovo laptops. DSLRs, TVs, and washing machines have a similar offer, while some watches from Titan and Fastrack are available at 40 percent cashback. If you spend more than Rs. 1,499 during the Paytm Mall sale period, you can enter to win an iPhone 7.

Xiaomi Mi 5X could be on its way to India next month, Mi Note 3 might have QHD display
The Xiaomi Mi 5X looks set to be coming to India in September, judging by a tweet put out by XiaomiIndia MD Manu Kumar Jain. Jain said it’d be Xiaomi’s first dual-camera phone in India, which leaves the 5X as the main contender. It has two 12-megapixel sensors on the back, a f/2.2 wide-angle lens and a f/2.6 telephoto lens. The Xiaomi Mi 5X was launched at CNY 1,499 (roughly Rs. 14,200) in China, so it should cost less than Rs. 20,000 in India.

Meanwhile, a new leak for Xiaomi Mi Note 3 has revealed that the device may come with a 2K (1440×2560) OLED screen developed by Samsung. The phone will also reportedly carry the Snapdragon 835 and have a near bezel-less display, so Xiaomi is clearly gunning for the Galaxy S8.

OnePlus 5 Soft Gold variant made official
OnePlus 5 now has a new limited-edition colour option: Soft Gold. Interestingly, the colour is only available with the lower 6GB/64GB RAM-storage variant – which costs Rs. 32,999 – and will go live on Amazon India and OnePlus’ website on Wednesday, August 9 at 12 am. This new OnePlus 5 colour option can leave buyers in a dilemma of sorts, considering Soft Gold is reserved to lower variant, and Midnight Black is locked to the higher 8GB/128GB option. The only common choice is Slate Gray.

Moto X4, Lenovo K8 Plus, Google Pixel 2 leaks
Lenovo’s upcoming Moto X4 is set to have a unique dual-camera design, judging by the new leaked render shared by Evan Blass. It counters the previous render he shared himself, which he said wasn’t reflective of the final product. In the new one, the two cameras sit side-by-side in a circular housing with the flash support at the top.

In other Lenovo news, the K8 Plus has been spotted on benchmark site Geekbench, ahead of the K8 Note’s launch in India on Wednesday. It runs Android 7.1.1 Nougat, is powered by an octa-core MediaTek Helio P25 chip, and has 3GB RAM.

Lastly, the Google Pixel 2 has shown up in leaked live photos, which suggest wide bezels (ugh) and stereo speakers. A picture of the back shows a single camera and a fingerprint sensor.

Galaxy S8 Active, Samsung U Flex unveiled
Samsung has launched the rugged, more durable version of its flagship – the Galaxy S8 Active – which comes with a shatterproof screen. It can be pre-ordered for $28.34 (roughly Rs. 1,800) per month for two and a half years via AT&T Next, or $849.99 (roughly Rs. 54,100) if you are paying up-front. The Samsung Galaxy S8 Active will be available in US stores this Friday, August 11. There’s no word on when the S8 Active will launch in other countries.

Available in Meteor Grey and Titanium Gold colour variants, the S8 Active has a metal frame and bumper that protects it against shock, abrasion, tilting or twisting. While that’s all well and good, the housing does take away from the bezel-less brilliance of the Infinity Display. The Galaxy S8 Active has passed military specification (MIL-STD-810G) testing, according to Samsung. In terms of specifications, the Galaxy S8 Active is on par with the standard version, except a battery pack that goes up to 4,000mAh.

Alongside, Samsung has also announced a pair of wireless headphones in U Flex, which gets its name from the bendable neckband. The U Flex also has a dedicated button for Samsung’s digital voice assistant Bixby, which can be reconfigured to choose from clock, timer, Samsung Health, or favourites. We don’t have pricing or availability details yet, though those will probably arrive with the launch of Galaxy Note 8 on August 23.

iPhone 8 design leaked again
The next iPhone launch is still over a month away, but the steady stream of leaks has given us multiple new looks at the upcoming models. An image shared by Evan Blass reiterated the bezel-less design we’ve seen before for iPhone 8, which includes a wrap-around display for the front camera, sensors, and earpiece. An image shared on Weibo shows that we might get a new Copper Gold colour with the new iPhone.

Meanwhile, Foxconn VP Luo Zhongsheng allegedly told reporters that the iPhone “will not be cheap” owing to supply chain issues, since yields are low on the new OLED display being provided by Samsung.

SoftBank now in direct talks with Flipkart
After the founders of Snapdeal called off merger talks with Flipkart, its biggest investor SoftBank has begun direct talks with the latter, according to CEO Masayoshi Son. “We respect the decision of Snapdeal founders and we are engaged with Flipkart,” Son said after the Q2 earnings were announced. SoftBank owns 35 percent of Snapdeal and was said to have mediated its sale during the past few months. The Japanese firm is now looking to invest $2 billion in Flipkart.

Disney apps may be spying on your kids
A class-action lawsuit filed in California last week has alleged that 42 apps made by Disney working with three companies – Upsight, Unity, and Kochava – have been collecting personal data on children, and illegally sharing it with advertisers without parental consent. US law prohibits companies from signing up those under the age of 13, as part of the Children’s Online Privacy Protection Act (COPPA). In a statement, Disney said it has a “robust COPPA compliance” programme and intends to defend itself in court.

LG V30 spotted in video contest entries, launches August 31
LG may have inadvertently revealed the look of its next flagship – the LG V30 – thanks to an online competition in collaboration with Joseph Gordon-Levitt’s HitRecord production company. Entrants are given early access to LG products, and their videos – though not available in high-quality – paint a clear picture of what the V30 will have. The back of the phone has a dual-camera setup, a fingerprint sensor, and the moniker ‘V’ etched below it. The LG V30 is set for its pre-IFA 2017 Berlin launch on August 31.

Google rolls out YouTube’s in-app messaging to everyone
YouTube’s in-app messaging system, which allows you to share videos and chat with your friends and family right in the app itself, is now rolling out globally for both Android and iOS users. Google may have lost the social media battle, but it still owns the world’s largest open video platform, so this new addition may well help keep users on the platform they watch the most. When you tap the Share button, you’ll be able to choose from people with Google accounts. Once you do so, or if someone shares a video with you, those conversations will be available in the Shared tab.

[“Source-gadgets.ndtv”]