Paytm | Udaipur Kiran udaipurkiran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from udaipurkiran.com Daily Mail and Mail on Sunday newspapers.
paytm: Paytm's card-on-file tokenization comes to Myntra, Oyo, Domino's and others – Rashtra News : Tech News rashtranews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rashtranews.com Daily Mail and Mail on Sunday newspapers.
After RBI's action against Paytm Payments Bank, several banking and fintech companies have brought out ads harping on the concept of trust, an essential attribute in all financial products.
Three fundamental sources of infirmity need fixing. First, the KYC process using Aadhaar must be made credible and secure. Second, since most UPI transactions are free, traditional lenders have little incentive to shorten their technology-upgrade cycle. Third, the monopoly of the National Payments Corporation of India, which runs the UPI, must end. As long as the country’s preferred system for moving money online is devoid of fair charges and free from competition, there are great risks
The Reserve Bank of India has taken regulatory action against Paytm and Visa Inc., and more nonbank intermediaries may be targeted. The growth of neo-banking in India has increased the risk of fraud. KYC regulations and digital payments face challenges, and nodal accounts are used for real-time processing.