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Mobile Payments

SoftBank to invest USD 1.4 billion in Paytm

Tuesday 2 May 2017 | 12:57 PM CET

SoftBank is set to announce it will invest USD 1.4 billion in India\'s Paytm to boost mobile payments. 

Paytm is an Indian digital-payments provider. Its parent company, One97 Communications, was valued at USD 4.2 billion in 2015, according to reports. However, recent estimates suggest the latest figure could be between 7 billion to 9 billion if the SoftBank India investment is factored.

Paytm offers consumers a mobile wallet solution in a nation of more than 1 billion people where credit card penetration is low and cash has become complicated recently.

Softbank, has invested in India's startups for some time. It's now heavily involved in India's e-commerce space and hoping to pressure a merger between Snapdeal and Flipkart, the two largest homegrown e-commerce groups in the nation, according to the Financial Times.

The potential merger would come as Amazon looks to spend USD 5 billion in an attempt to become India's dominant retailer.

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