e-commerce
Paytm launches ‘Paytm Cashback Days’ – India’s biggest Payments Festival from 12-16th December 2018
MUMBAI: Paytm, the brand owned by One 97 Communications, India’s largest digital payments platform, launched the country’s largest Payments Festival, ‘Paytm Cashback Days’ from 12th to 16th December 2018. The festival is aimed at rewarding consumers who pay using Paytm at more than 10 million merchant outlets across the country, ranging from organised stores, supermarkets, restaurants, pharmacies, petrol pumps, milk-booths to millions of small retailers. The initiative will also drive greater sales & engagement for all Paytm merchant partners across India and grow their businesses multi-fold. Paytm will continue to celebrate this theme as an event during special occasions year-on-year going forward.
More than 100+ major brands as well as small retailers across the country that accept Paytm will be participating in this campaign. Some of the biggest participating names include Uber, Big Bazaar, Zomato, 24 Seven, Columbia Asia, Fortis, Cafe Coffee Day, Indian Terrain, Biba, Reliance Digital, Reliance Fresh, Super 99, Central, Heritage Fresh, US Polo, Flying Machine, Ed Hardy, Barista, Chaayos, Pizza Hut, Beer Cafe, Chaipoint, Mad over Donuts, Spencers, VIP Bags andZoomcar among others.
Kiran Vasireddy, COO – Paytm, said, "Paytm has become the preferred payment choice amongst customers for in-store payments in India. Today, Paytm is accepted at the largest variety of stores ranging from large brand outlets to online platforms as well as small retailers across India. With ‘Paytm Cashback Days’, we celebrate our customers choosing Paytm as their preferred mode for payments at offline or online merchants by rewarding them with the best deals & cashback of the year. This will be a significant part of our efforts to push the adoption of mobile payments in the country & also help our Merchant partners significantly.”
Customers can avail flat cashbacks of Rs. 200 on Rs. 2000 at Big Bazaar, while making a minimum purchase of Rs. 2500 at a Central store will make users eligible for cashback if Rs. 300. Eating out will also become more affordable during the campaign, with discounts of 15% at Beer Cafe, 20% off on a bill of 250 at Vaango & Mad Over Donuts, 15% cashback on a bill of Rs. 350 at Cafe Coffee Day and 20% off on a bill over Rs. 350 at Chaayos. They can also avail spectacular deals on fashion and apparel. For instance: US Polo is offering flat 20% cashback on a minimum bill of Rs. 3,999, flat 15% off at Woodland and flat 20% cashback at Ed Hardy and Flying Machine stores across India. Paytm users can also enjoy exciting deals and cashbacks while shopping at their neighbourhood stores.
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
