Paytm has completed the migration of merchant customer accounts from its payment bank to other unified payments interface (UPI) after it received a go-ahead from the National Payments Corporation of India (NPCI). On April 17, One97 Communications Limited (OCL), which runs Paytm, started the customer migration to partner with payment service provider (PSP) banks Axis … Read more
In the financial landscape of India, regulatory oversight plays a crucial role in maintaining stability and safeguarding consumer interests. Recent moves by the Reserve Bank of India (RBI), particularly targeting prominent financial institutions like Paytm Payments Bank, IIFL Finance, and now Kotak Mahindra Bank, underscore the focus of the regulator on transparency and compliance across … Read more
The Reserve Bank of India’s action against online recharge and bill payment service PayTM has created uncertainty among small businesses and traders who rely on the service for their daily transactions. The RBI has barred Paytm Payments Bank (PPBL), which has over 30 crore wallets and three crore bank accounts, from offering all forms … Read more
The regulatory action that brought Paytm Payments Bank (PPB) to a grinding halt on January 31 was as sudden as it was unexpected but it had been brewing for the past seven years or so since its launch, according to several people who spoke to ET on the matter. Violation of banking compliance norms on … Read more
India’s banking regulator has declined a payment aggregator licence for the One 97 Communications Ltd unit that owns the popular brand, asking it to reapply with 120 days after meeting certain conditions. The regulator asked Paytm Payments Services Ltd, a 100% subsidiary of One 97 Communications, to reapply after getting the necessary approvals for foreign … Read more
Vijay Shekhar Sharma, CEO and founder, Paytm on Thursday announced Rs 10 crore investment for mini app developers on Paytm Mini App Store. The platform was launched recently by the fintech giant days after the company, along with other startups accused Google of being unfair for charging 30% commission. “We are announcing a Rs 10 … Read more