One 97 Communications Partners with Flip in Indonesia for Market Expansion
One 97 Communications Ltd, commonly known as Paytm, has entered into a partnership with Indonesian technology company Flip (PT Fliptech Lentera Inspirasi Pertiwi) and its subsidiary PT Duta Teknologi Kreatif (DTK) to expand services in the Indonesian market.The collaboration involves arrangements where the Company and its subsidiaries will provide device hardware and necessary technology to DTK. Furthermore, Paytm has made a minority investment in DTK.
Flip, an established financial services technology company based in Indonesia, will take the lead role in local market execution within this partnership structure.
DTK holds a PJP1 license, which grants it the capability to conduct merchant acquiring activities within Indonesia. The alliance aims to leverage Paytm's technological support and investment alongside Flip's deep understanding of the local market landscape.
PAYTM Stock Price Movement
Today, One 97 Communications Limited shares surged to close at ₹1262.90, finishing the trading session with a robust 3.24% gain. The rally was supported by active buying interest as over 2.38 million shares were traded during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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