Among the retailers who have initiated or are considering the switch, PhonePe emerges as the preferred choice for 50 percent of respondents, followed by Google Pay at 30 percent, and BharatPe at 10 percent.
Paytm and its services continue to remain operational beyond 29th Feb, as most of the services offered by Paytm are in partnership with various banks (not just associate Bank).
Investors question if Paytm Payments Bank can thrive without regulator s trust. The Reserve Bank of India s ban on deposit or credit transactions has frozen the bank. Paytm can switch fintech customers to another institution but the ban signals regulatory concerns. The RBI s ban follows persistent non-compliances and material supervisory concerns. It also mandates termination of accounts of One 97 Communications and Paytm Payments Services. Confidence in Paytm s mainstream business and banking partners may be affected. Paytm s goal to turn profitable may be delayed. The investment case for Paytm weakens.
The RBI has banned Paytm Payments Bank from accepting deposits and onboarding new users. Here's what you need to know about withdrawing your money and alternative options.
Paytm is not among heavily-owned stocks by mutual funds in India as 23 fund houses via 69 schemes have invested Rs 1,995 crore in the company. Paytm’s average market-cap was Rs 53,327 crore during the June to December period.