Strategic Manoeuvres: Paytm's Response.!
Paytm Payments bank data-faces escalating challenges with the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india (RBI) imposing strict actions, including a ban on accepting deposits starting from february 29. This has raised concerns among merchants relying on paytm, leading to a gradual shift towards alternative options. In response, paytm reassured its users, stating that its QR codes will remain functional beyond february 29, and merchants need not seek other alternatives.
Addressing concerns and dispelling rumours, paytm clarified on tuesday that if a merchant's account is with Payments bank, it will be seamlessly linked to another bank. Merchants have the option to express their preferences while selecting the bank, ensuring that transactions through QR codes continue without disruptions. Amid these developments, Axis bank and hdfc bank have expressed interest in collaborating with paytm, pending approval from the RBI. paytm is reportedly in talks with several major banks, and an announcement regarding a partnership is expected soon.
The company's spokesperson assured that paytm is committed to ensuring a smooth experience for its merchants, and ongoing discussions with prominent banks aim to address the challenges posed by the RBI's recent decisions. Despite the RBI Governor, Shaktikanta Das, affirming that the central bank will not reconsider its decision, paytm remains proactive in exploring collaborations to navigate the evolving regulatory landscape.
Addressing concerns and dispelling rumours, paytm clarified on tuesday that if a merchant's account is with Payments bank, it will be seamlessly linked to another bank. Merchants have the option to express their preferences while selecting the bank, ensuring that transactions through QR codes continue without disruptions. Amid these developments, Axis bank and hdfc bank have expressed interest in collaborating with paytm, pending approval from the RBI. paytm is reportedly in talks with several major banks, and an announcement regarding a partnership is expected soon.
The company's spokesperson assured that paytm is committed to ensuring a smooth experience for its merchants, and ongoing discussions with prominent banks aim to address the challenges posed by the RBI's recent decisions. Despite the RBI Governor, Shaktikanta Das, affirming that the central bank will not reconsider its decision, paytm remains proactive in exploring collaborations to navigate the evolving regulatory landscape.