Paytm Stock Jumps 7% Post Samsung Wallet Deal
Paytm revealed a collaboration with Samsung, incorporating the Samsung Wallet into the Paytm application
As per media reports, Paytm's stock surged by 7 per cent following two significant announcements. First, the company received IRDAI’s approval to withdraw its application to register as a general insurance company.
Additionally, Paytm announced a partnership with Samsung, integrating the Samsung Wallet into the Paytm app.
“We are delighted to launch new features on Samsung Wallet in collaboration with Paytm. These features allow Galaxy smartphone users to purchase bus and airline tickets, as well as movie and event tickets, without needing to switch between multiple apps,” mentioned Madhur Chaturvedi, Senior Director, MX Business, Samsung India.
A Paytm spokesperson said, “As pioneers of mobile payments, we are excited to partner with the consumer electronics giant Samsung India, as part of our constant endeavour to provide convenience and ensure superior user experience to Indians.”
