Paytm

Paytm parent One97 Communications reportedly outlined its intention to issue $1. 6 billion-worth of new shares to be sold as part of a wider IPO, with existing investors set to vote on the matter at an EGM scheduled for mid-July.

Alibaba’s financial arm Ant Group rejected speculation it was considering offloading its stake in Indian mobile wallet company Paytm due to continued deterioration in relations between China and India, Reuters reported.

India-based mobile wallet company Paytm upgraded the credit facility on its app, the latest move by the company to increase the level of advanced financial services offered on its platform.

One97 Communications, parent of mobile payments provider Paytm, filed court proceedings accusing India’s largest mobile operators of failing to protect its customers against phishing attacks, The Times of India reported.

India mobile wallet company Paytm detailed a INR1 billion ($13. 2 million) loyalty programme designed to fund promotional material and measures to encourage the use of digital payments in grocery stores.

Paytm held talks with Microsoft about a potential investment of around $100 million into the mobile payments company, The Economic Times reported, as competition in the Indian wallet market continues to ramp.

Paytm Payments Bank announced it was set to offer Visa virtual debit cards alongside its accounts, with plans to eventually extend this to physical versions on request.