TRENDING: Paytm will get help worth crores from this Chinese company| Finance I Viral | ABP Paisa Live

Paytm: The long-struggling fintech startup Paytm has finally received some positive news after a long time. A government committee has given Paytm permission to accept a Rs 50 crore investment from China. Let us inform you that Paytm Payment Services would be the recipient of this investment. Paytm will still need to obtain the Finance Ministry's approval before making any investment, though. Let us tell you that the government committee had opposed China's Ant Group's 9.88% ownership of Paytm prior to receiving this approval. For the remaining information, watch the entire video.

Formerly called Ant Financial, Ant Group is a subsidiary of Alibaba Group, a Chinese business. With 80 million merchants and over 1.3 billion users, the group operates Alipay, the largest mobile payment platform in the world. As of June 2020, cumulative payment volume has reached CN¥118 trillion.