Paytm stock has surged following two major announcements. The company has received IRDAI’s approval to withdraw its application to register as a general insurance company.
It has also announced a partnership with Samsung, integrating 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,” said Madhur Chaturvedi, Senior Director, MX Business, Samsung India.
“As pioneers of mobile payments, we are excited to partner with the consumer electronics giant Samsung India, as part of our constant endeavor to provide convenience and ensure superior user experience to Indians,” Paytm Spokesperson said.
Shares of One 97 Communications closed at ₹432.90 on the NSE, higher by 7.55 per cent on Thursday.