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Paytm partners insurance firms for cashless premium payments

  • Mobile payments wallet Paytm said it has partnered major insurance
    companies to offer online premium payments, reported the
    Press Trust of
    India.
      Paytm is targetting premium
    payments of Rs 1,000 crore by the end of the fiscal.
  •  
  • Insurance companies ICICI Prudential Life, Religare Health, Reliance
    • Mobile payments wallet Paytm said it has partnered major insurance
      companies to offer online premium payments, reported the
      Press Trust of
      India.
        Paytm is targetting premium
      payments of Rs 1,000 crore by the end of the fiscal.
    •  
    • Insurance companies ICICI Prudential Life, Religare Health, Reliance
      Life and Reliance General have partnered the Alibaba-backed company to assist
      consumers in paying their insurance premiums online.
    •  
    • “Our commitment is to provide users with simple and seamless
      payment experience. I strongly believe that we will be able to increase the
      renewal rate for the insurance companies,” Senior Vice President of Paytm
      Kiran Vasireddy said.
    •  
    • Paytm is going live with over 15 companies by the end of the next
      quarter, and over 100 million registered users can now pay their insurance
      premiums on-the-go. It also plans to offer consumers deals if they opt for this
      particular medium to pay renewal premiums.
    •  
    • With this, Paytm aims to be a one-stop shop for all bill payments
      and recharges. This is part of the larger expansion agenda of the firm, which
      recently entered into hotel aggregation.
    •  
    • Paytm has also been granted in-principle licence for payments bank
      from the Reserve Bank of India, and is looking to invest about Rs 1,200 crore
      in that space over the next three years, the company said.

     

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