Paytm shares off day's low after partnership with Flipkart for Big Billion Days 2022 sale

With Flipkart’s partnership, Paytm is offering cashback on payments made through Paytm UPI and Paytm Wallet, it said in a statement. “During The Big Billion Days, customers shopping on Flipkart will receive a Rs 25 instant cashback on purchase of Rs 250 and above on paying via Paytm UPI and an instant cashback of Rs 50 on spends of Rs 500 and above through Paytm Wallet,” it added.

The fintech said users shopping on Flipkart during The Big Billion Days will get the advantage of speedier, hassle-free, and secure checkouts with Paytm.

Meanwhile, Paytm and PayU premises across Mumbai, Delhi, Gurgaon, Kolkata and Lucknow were raided by the ED on Wednesday in connection with "illegal" Chinese loan app case.

As part of searches earlier this month, the federal agency had searched the premises of Razorpay, Paytm and Cashfree in Bengaluru. During the raids, the probe agency seized Rs 17 crore worth funds kept in "merchant IDs and bank accounts of these Chinese persons-controlled entities", an official statement said.

Following yesterday’s development, Paytm spokesperson said, "As we have mentioned before, ED continues to seek information about certain merchants from various payment service providers, we have shared the required information."