Paytm is in talks with three banks - HDFC Bank, Axis Bank and Yes Bank - that can take on the payments and settlements load from Paytm Payments Bank. However, the process is yet to start since the Reserve Bank of India has not said anything yet.
Paytm merchants need not worry following Reserve Bank of India’s (RBI) direction to its associate bank as Paytm Soundbox, QR, EDC machines will keep working as usual, and merchants will still be able to accept payments.
Paytm(One 97 Communications) registered a 44% YoY rise in its merchant payments volume in January 2023. The company also disbursed a total of 3.9 million loans in last month, which was a 103% jump from January 2022
Paytm Reaffirms Its Digital India Vision, Says Merchants Can Enjoy UPI and RuPay Payments With Zero-Fees
FOLLOW US ON:
Paytm says that its all-in-one payment gateway for small-scale merchants is levying no hidden transaction charges or fees on UPI and RuPay card payments. The digital payment company has further announced that it is following guidelines set by the authorities and hopes to pursue more merchant partners and customers to adopt online payment modes - in a bid to promote the government s Digital India push. Launched last year, the all-in-one QR allows merchants to receive unlimited payments through Paytm Wallet, Rupay Cards and all UPI-based payment apps, that goes directly into their bank account at zero percent fee. The company had also introduced a new service Paytm Business Khata to maintain digital ledgers, that complements the all-in-one QR.