Paytm Ties Up With RBL Bank To Boost Digital Adoption Among Lender's Merchant Partners

Paytm parent One 97 Communication Ltd. has partnered with RBL Bank Ltd. to strengthen digital payment adoption among the private lender's merchant partners, according to a press release issued on Monday.

As part of the tie-up, Paytm will provide Soundbox and card machines to the bank's merchant partners.

This initiative allows the lender's merchant partners to leverage Paytm's technology for secure and reliable payments, the release said.

The integration of "Paytm for Business dashboard" allows merchants to track transactions in real-time, providing enhanced transparency and operational efficiency, it added.

"This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. With innovative offerings like Tap and Pay-enabled NFC Card Soundbox and feature-rich Paytm Card Machines, we are committed to supporting businesses in their digital transformation journey," said Narendra Agrawal, head of branch banking and retail liabilities at RBL Bank.

Ripunjai Gaur, chief business officer for offline payments at Paytm, said the collaboration with RBL Bank allows us to "expand the reach of our pioneering Soundbox and card machines."

Shares of One 97 Communication were trading 1.9% higher at Rs 728.7 apiece on the NSE at 1:46 p.m., compared to a marginal decline of 0.02% in the benchmark Nifty 50. The company's stock has risen by 69.18% in the last 12 months.

Out of 19 analysts tracking the company, nine maintain a 'buy' rating, six recommend a 'hold,' and four suggest 'sell', according to Bloomberg data. The average of 12-month consensus price target implies an upside of 33.1%