India’s Paytm Secures Approval for Consumer Digital Payments Platform
By: Tareq Sikder
Paytm has received approval to pivot. Its operations will be focused on a digital payments platform for consumers after Paytm Payments Bank was ordered to shut down by government orders. Paytm Payments Bank has been ordered to close by government orders. The company’s core values are not affected by the transition to development. Companies face regulatory challenges
Paytm Payment Platform for Consumers Approved by Regulatory Authorities
Yesterday, the National Payments Corporation of India announced its plans. Paytm received consumer approval on Thursday. Digital payment platform supported by reputed lenders like Axis Bank, HDFC Bank State Bank of India and Yes Bank. These banking partners include HDFC Bank, State Bank of India and Yes Bank. Unified Payments Interface enables peer-to-peer payments.Payments India’s revolutionary instant money transfer system.
Paytm previously operated under a license linked to Paytm. The bank was the subsidiary that managed digital wallets and payments. Traffic. Paytm payments have been banned by government orders. Paytm is trying to shut down banking operations due to persistent rule violations. Alternative arrangements to maintain business.
New Bank Partnerships in the Wake of Paytm Payments Bank Closure
Paytm Payments Bank: How to mitigate the impact Paytm is discontinuing its Paytm service but has partnered with other banks to complete the closure. Operational requirements. Paytm was replaced by Axis Bank last month. Payments Bank is the backbone of its merchant payment system Settlement .
UPI and digital payments in India The importance of the ecosystem cannot be underestimated. Its transactions are worth 18.3 trillion rupees. Processed in February alone. UPI is not directly profitable for companies. They use the platform to reach a large group of consumers. Cross-selling services such as mutual funds and insurance.
