PHONEPAY GOT $28 MILLION FUNDING FROM PARENT COMPANY
Phonepe is an Indian e-commerce payment system and digital wallet company and his headquarter in banglore,india. It was founded in December 2015, sameer nigam and rahul chari and his parent company is flipcart. phonepay got $28 million funding from his parent company flipacart.it is expected that during the covid19 epidemic phonepay is the most used digital payment in india. Phonepay revenue upsurged 42.79 crore and in (us $6.0 million). If we are talking about it’s user throughout the world is 218 million and phonepay is available in 11 languages. This takes the total funds in phonepay to $928 million till date and according the twitter review between phonepay and googlepay phonepay is much better than google pay and good that it is an Indian startup before flipcart before acquired and it is also said that soft bank has also invested in phonepay.
PAYTM HAS LAUNCHED CONTACTLESS IN-STORE ORDERING
Paytm is an Indian e-commerce payment system and financial technology company,based out of noida, india. Founder of paytm vijay shekhar Sharma has signed and enunciated the “ contactless in-store ordering “ technology for restaurants and eateries,just days after zomato launched a similar feature for the post covid world.”contactless in-store ordering” solution to help restaurant and eateries minimise physical contact for menu.
Paytm contactless in-store ordering model is same as zomato and swiggy but in contactless in-stores ordering in paytm is latecomer but we do not know how he will going to compete.paytm founder vijay shekhar Sharma do not disclose anything except funding how will he going to compete with zomato and swiggy.
COMPETITOR OF PAYTM CONTACTLESS-IN STORE ORDERING
Paytm is latecomers in contactless store ordering lots of industries are already engaged in this like swiggy,zomatto,foodpanda etc. But the thing is that no any proof have found that shows that which purpose for funding they have got whether funding is for starting counterless-in store ordering purpose or expanding paytm finance. If we are talking about swiggy have already got revenue of 875 crore (us $120 million) and zomato have got revenue of US $206 million but paytm can do better because they already have logistic partner so they can easily plan but the competition is very high and if we are talking about zomato users is 8 crore(80 million) monthly active users and it is also challenge for paytm how will he attract zomato and swiggy customers.
PAYTM HAS ALSO CONTRIBUTING FUNDS FOR FIGHT COVID19
Paytm announced that it is contributing 4 lacks mask and 10 lack hygiene product for frontline workers fighting covid-19 across the country thats a good steps of paytm that contribute welfare toward the society