ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Service charge on food bills: Big development from Delhi HC - No stay on guidelines prohibiting hotels, restaurants
  • Fixed Depsit Interest Rate: Check latest FD rates of HDFC Bank, SBI, Kotak Mahindra Bank, PNB, ICICI Bank, BoB, IOB, Ujjivan
  • Operation Demat Daka Big Impact: 4 out of 5 victims of demat account hacking receive compensation; Anil Singhvi lauds them for t
  • Indian Railways to shut 300 ticket counters this year, to make IRCTC server robust
  • India’s first electric double-decker bus Switch EiV22 unveiled | PHOTOS
Read in App
Business News » India News

Fintech startups likely to witness rise in hiring post demonetisation

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Fintech startups likely to witness rise in hiring post demonetisation
Deals marketplace Little, funded by Paytm, Tiger Global, SAIF partners and GIC, Singapore, is witnessing significant surge in transactions, post demonetisation. Representational image of Paytm website. Image Source: Official Website

Fintech startups are proving to be the biggest beneficiaries of the government's demonetisation move and with the rise in business, recruitment plans of these companies are likely to see significant uptrend in coming months, experts say.

E-wallet companies like Paytm, PayU India, MobiKwik, and Freecharge have been seeing significant rise in gross merchandise value (GMV) and the number of transactions since November 8 when Prime Minister Narendra Modi announced the demonetisation of Rs 1,000 and Rs 500 notes, making these notes invalid.

Experts believe that this move is going to positively impact the workforce and hiring needs of these companies. Besides, technology roles will now open up as these companies rush to meet the surge in transactions and there is likely to be a huge opportunity in other functions such as sales and marketing as well.

"We have observed unprecedented growth. Our user base has grown to 40 million and we have added 1,50,000 merchants, which makes us directly available at 2,50,000 retailers now," Mrinal Sinha, Chief Operating Officer at MobiKwik, said.

"Paytm and Mobikwik have already been in the overdrive to reach out to small traders to commence transactions on their platform and we do see a large number of roles opening up in this space," Naresh Sharma, Managing Partner, Antal International, Jaipur, said adding that "a number of other e-wallet companies do see this as an opportunity to expand and surely, the requirement of hiring would increase".

ALSO READ: Will people take to e-wallets like Paytm, Freecharge as Govt scraps some notes?

Deals marketplace Little, funded by Paytm, Tiger Global, SAIF partners and GIC, Singapore, is witnessing significant surge in transactions, post demonetisation.

"Definitely, there will be increase in demand for talent, primarily for on-boarding and digitising the payment solutions for offline businesses," Little CEO and co-founder Manish Chopra said, adding that "we are looking forward to ramp up the team size aggressively in coming months".

Meanwhile, pre-paid solutions company Qwikcilver has seen significant traction in the pre-paid card segment.

"With the demonetisation drive, we have seen three times growth in gifting through gift cards on our Woohoo.In and Woohoo app," Kumar Sudarshan, Co-Founder and CEO, Qwikcilver, said adding that "we are very positive about the environment and we will continue to evolve our plans around further investments in newer products".

Ritesh Chopra, Country Manager, Norton by Symantec, has a piece of advice, "While e-wallets make financial transactions very easy, one must adopt best practices to avoid any phishing attacks. People should ensure websites with which they transact financial business are secure and they should create strong passwords and monitor bank statements regularly."

"While on-the-go tools such as mobile banking apps and digital wallets make managing financial tasks easy, one must also take necessary precautions and follow best practices while accessing sensitive financial information anytime, anywhere," Chopra said.

ALSO READ: Not mobile wallets, cash will still be king in India 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Fintech StartupsEconomyNarendra ModiDemonetisationPaytmPayU IndiaMobikwikFreechargeHiring
Written By: PTI
Updated: Sun, Dec 04, 2016
12:56 pm
New Delhi , PTI
RELATED NEWS
 Demonetisation impact: GDP growth may fall to three-year lows Demonetisation impact: GDP growth may fall to three-year lows
Not mobile wallets, cash will still be king in India Not mobile wallets, cash will still be king in India
Brands go for cashless ads to attract cash-crunched consumers Brands go for cashless ads to attract cash-crunched consumers
Will people take to e-wallets like Paytm, Freecharge as Govt scraps some notes? Will people take to e-wallets like Paytm, Freecharge as Govt scraps some notes?
Demonetisation: Paytm records over 35 million online recharge transactions Demonetisation: Paytm records over 35 million online recharge transactions

LATEST NEWS

India's first electric double-decker air-conditioned bus unveiled in Mumbai

Apple iPhone 14 Pro Max release date set for September 7! Check expected price, specifications and more

India vs Pakistan Asia Cup 2022 Match Date: know how and where to book tickets, price, availability, all dos and don'ts

Maruti Suzuki to continue focus on small car segment - CEO Hisashi Takeuchi explains rationale

2022 Maruti Suzuki Alto K10 launched - Check price, booking amount, specifications and more

Apple layoffs 2022: iPhone maker sacks 100 contract recruiters, says report

Banks rush to woo depositors ahead of festival season, hike fixed deposit interest rates - should you invest?

Lord Krishna Janmashtami 2022: Date, time; city wise Puja Shubh Muhurat; ISKCON Schedule, Timing - Full Tithi Details

Telecom Minister Ashwini Vaishnaw's message to telecom service provider for 5G launch - All you need to know

Indian Railways longest freight train: VIDEO - Super Vasuki - 3.5 km-long goods train with 6 engines

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV